Deployment of the eON SaaS at the Bank Spółdzielczy in Brodnica

Description

Bank Spółdzielczy w Brodnicy [Eng. Cooperative Bank in Brodnica, a bank established and owned by the local community of the town of Brodnica] was established in 1862. Today, it is one of the oldest functioning banks in Poland. In 2016, it was the first bank to leave the association institution, starting a successful independent operation. In the recent years, BS Brodnica has become a modern financial institution due to the development of both its offer to customers and its use of state-of-the-art IT solutions. Combining modernity with tradition, it meets the expectations of the most demanding customers.  

Problem

Obligatory reporting undergoes constant transformation. For several years now, its scope has been growing dynamically to cover more areas of banking activity. Today, the number of monthly reports already reaches dozens. Each new report or expansion of existing ones requires new resources on the Bank's servers, as well as frequent investments in computer stations to improve the efficiency and speed of the systems used to prepare the required statements.
Kamil Pabich – Director of the Risk Department at BS Brodnica

In many areas, we are currently seeing rapid technological development. At the same time, financial institutions are forced to look for modern and secure solutions and savings.

Reporting obligations have also been increasing in recent years, both in terms of the number and volume of reports, e.g., BPS2 Payment Statistics Database. This necessitates the need to scale the machines used to process them to ensure the stability and continuity of the reporting system.

A key element of the implementation of cloud solutions in the case of banking is to comply with the UKNF's communication on the processing of information by supervised entities in public or hybrid cloud computing. This document defines a reference model for the use of cloud computing services, which consists of:

• application guidelines;
• guidelines for the classification and evaluation of information;
• guidelines for risk assessment;
• minimum requirements for information processing in cloud computing;
• rules for informing UKNF of the intention to process or handle information in cloud computing.

Before moving information technology services to the cloud, financial institutions must take care to minimise risks and ensure data security, which requires a careful analysis of the risks involved in the process and the application of appropriate strategies.
When analysing the feasibility and legitimacy of moving reporting processes to cloud solutions, we considered maintaining a high level of security and increasing the efficiency of the process as the fundamental aspects.
Grzegorz Głowacki – Board Member for Information Technology and Innovation of BS Brodnica

The oracle2derby migrator was not prepared for additional tables beyond the scope of the database scheme in aSISt system.

The timing of the implementation of the eON system at the bank coincided with the reporting period, so it was important that the whole process did not disrupt the preparation and dispatch of reports.

IT Solutions

eON is a cloud-based solution for obligatory reporting. This SaaS application allows operation via a browser, without installation on the customer's infrastructure.

The state-of-the-art technologies used in the application fully ensure high system performance. This makes the preparation of the report very efficient. On the other hand, thanks to the XBRL validator with its real-time validation function, the client is assured that the generated reports comply with the supervisor's requirements.

Thanks to the additional Compliance package, the client was able to use ICO support and documentation created by FINGO when preparing the documents for the UKNF. The package guaranteed dedicated support until the submission of documents to the KNF.

A space for communication was created so that each party has the ability to answer any questions quickly.

The outcome

The solution provided by FINGO has given BS Brodnica many benefits, including:

• Improvement of the reporting process efficiency.
• Minimisation of risks and ensuring data security: the transfer of reporting processes to the cloud has been carefully analysed from a risk perspective.
• Resources saving: the cloud solution means avoiding the need to invest in servers and workstations.
• Support during the process of preparing documentation for the UKNF.
• Effective communication: the additional space for communication between the bank and the provider enables a quick response to questions and concerns.

The eON system uses cloud computing, which dramatically improves efficiency and saves time required to prepare the reports. The solution covers basically 100% of the reporting to the NBP and the BFG.
Kamil Pabich – Director of the Risk Department at BS Brodnica