Advanced Financial Reporting & Insights for a Global Bank

Industry: Banking & Finance

Technology Used: Power BI, Azure Data Factory, SQL Server, SSRS, Azure Synapse Analytics

Region: North America

Challenge: A global bank was facing challenges in its financial reporting processes due to a fragmented data landscape across various business units. Different departments and regional offices maintained their own data systems, leading to delayed, inaccurate, and inconsistent financial reporting. The bank’s management needed a consolidated, accurate, and timely reporting system to meet regulatory compliance requirements, manage risk, and make informed business decisions.

Business Impact:

• Regulatory compliance risks due to inconsistent reporting
• Delays in generating financial reports
• Ineffective risk management due to incomplete or delayed data

Solution: MSP and IT unified the bank’s disparate data sources using Azure Data Factory, automating the ETL process and integrating data from various financial systems. Azure Synapse Analytics was used for advanced analytics, enabling fast querying of large data sets to support real-time decision-making. We leveraged Power BI to build interactive dashboards for key stakeholders, providing comprehensive views of financial performance, risk, and operational efficiency. We also automated compliance and audit reporting using SSRS, reducing the manual effort involved in regulatory filings.

Technology Stack:

• Power BI for interactive dashboards and real-time reporting
• Azure Synapse Analytics for data analysis and real-time queries
• Azure Data Factory for ETL automation
• SQL Server for data storage and management
• SSRS for regulatory reporting automation

Outcome:

• 20% reduction in report generation time
• 30% reduction in manual errors leading to improved compliance
• 10% improvement in risk management through real-time monitoring of financial metrics
• Improved decision-making with real-time access to consolidated financial data

Client Testimonial: "MSP and IT's solution helped us automate our financial reporting, ensuring real-time insights while complying with regulatory requirements. The new system has saved us time and improved the accuracy of our data."