The Bank für Sozialwirtschaft AG (BFS), with headquarters in Cologne and Berlin, is the only specialized bank for companies and organizations in the social and health economy sector in Germany. BFS offers the full range of services of a universal bank.
These developments lead to changes of releases and high testing costs, due to frequent test cycles with an increase in complexity and growing requirements for data quality, documentation and auditability.
Regnology has been Bank für Sozialwirtschaft’s (BFS) regulatory reporting software provider since 2006. The financial institution initially used the Regnology Abacus engine to fulfill its regulatory reporting requirements, and upgraded in 2018 to the new software generation.
Until March 2020, tests were run through manual comparisons in BFS’s regulatory reporting department. The BFS was therefore looking for possible solutions to reduce the high testing costs. The logical solution was to extend the use of the regulatory reporting software and to start using Regnology’s test automation tool.
Regnology's Abacus testing solution enables the complete testing of §14 KWG reports much more efficiently than before. Previously, only sample tests were possible. In addition, a complete comparison of the temporary and final AnaCredit data marts can be made, leading to a considerable increase in quality of reports. We are very satisfied with [the solution].
Nils Ollig Senior Specialist Regulatory Reporting
Bank für Sozialwirtschaft
The software enables efficient testing thanks to a standardized procedure, which allows for a quick and reliable detection and analysis of deviations, achieving significant time savings.
The enhanced procedure shortens the test phases and releases capacity at the testing bank for bank-essential activities, such as ad-hoc reporting, report processing and other analyzes.Regnology Abacus testing also enables critical hotfixes or patches to be brought into production more quickly, thus enabling workarounds to be reduced more quickly if necessary.
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