The Cooperative Bank in Porąbka switched from a classic reporting system to SaaS

About the Cooperative Bank in Porąbka

The Cooperative Bank in Porąbka has been operating since 1973, offering comprehensive financial services to individuals, companies and farms operating mainly in Silesia. It also supports the local community through its involvement in cultural and educational projects, as well as those related to community initiatives.

In order to remain competitive, the bank uses state-of-the-art technological solutions to facilitate customer service and ensure compliance with the provisions currently in force in the financial market. In 2024, the financial institution implemented an eON SaaS obligatory reporting system running on external cloud infrastructure.

Increasing computing power and moving to a predictable subscription model

Today's IT systems are based on advanced technologies that require ever-increasing computing power. This often forces organisations to make costly upgrades to their internal IT infrastructure and increases energy consumption costs.

The one-off cost of purchasing server drives, which can support modern solutions that additionally automate reporting processes, can be quite a financial challenge for small banks. Hence, cloud systems are an interesting alternative.

The eON SaaS system eliminates the need to purchase and maintain expensive hardware and local software. IT infrastructure costs are predictable and payable in a subscription model. In addition, eON is regularly updated by the supplier, eliminating the need for manual management of the software. - says Robert Majerski, Head of the Management and Analysis Team at the Cooperative Bank in Porąbka.

Cloud system security in line with supervisor guidelines

The processing of information by supervised entities in public computing cloud is strictly regulated by UKNF (Polish Financial Supervision Authority). This imposes numerous obligations on the provider, such as data separations (each tenant's data must be independently processed and encrypted with its own keys) or a cloud exit plan, the fulfilment of which allows the solution to be used commercially in the financial market at all.

The eON SaaS provider offers advanced data security and their systems meet regulatory requirements. Without this, our cooperation would not have been possible due to the legal regulations in the financial market when it comes to cloud systems. - Robert Majerski explains.

Freedom from the need to keep track of legal changes and keep the system up to date

Obligatory reporting regulations change frequently, requiring constant monitoring of regulations and updating of processes. For small financial institutions, it can sometimes be difficult to keep up. - Robert Majerski notes.

Small banks face the same regulatory requirements as large commercial banks. In order to comply with the reporting obligations, they are making changes to their internal processes, which entails additional responsibilities and the need for careful data management. The situation is further complicated by the fact that regulations change frequently, requiring constant monitoring and adjustment of procedures.

At FINGO Systems, we keep our hand on the regulatory pulse of the financial market. We introduce any changes required by the supervisor into existing reports on an ongoing basis. In turn, we are adding new reports to our systems before the new regulations take effect for obliged financial institutions. This is how fast our customers expect us to react to change. - explains Michał Stawniak, Project Manager at FINGO Systems

Implementation of the cloud-based eON SaaS system

Cloud systems based on external IT infrastructure are increasingly finding their way into small financial institutions because they do not require experts in security, IT networks or systems maintenance. The bank employee responsible for reporting simply logs into the secure system and does his or her job.

It has multiple benefits. But one is the most important - peace of mind. The Cooperative Bank in Porąbka has also set its sights on this.