Use cases
BCBS 239: Compliance
The introduction of the BCBS 239 standard brings with it new requirements that players in the banking world must comply with. Find out how Tale of Data's functionalities can help our customers meet their compliance needs.
Credit Risk (RWA), BCBS-239, KYC, Basel III
The need
Our client, one of Europe's leading private bankers, needed to comply with BCBS 239.
BCBS 239 is a set of regulatory standards established by the Basel Committee on Banking Supervision (BCBS) on January 9, 2013. Its main objective is to ensure that banks have robust risk data aggregation capabilities and reliable risk reporting practices. By adhering to these standards, financial institutions can improve their ability to effectively identify, measure, monitor and report on their risks.
In simple terms, the objective of this standard is to enable banks to improve their ability to produce reliable regulatory reporting.
Proposed solution
Comply with BCBS 239 effortlessly with Tale of Data!
- Automated Quality Audit report detects anomalies at cell, field or record level: missing or ill-formed data, insufficient number of decimal places, outliers, duplicates.
- Consistency check: natural language business rules engine to detect business inconsistencies (e.g. for a given record, field A and field B cannot be empty at the same time).
- Process chaining and automation (Flow).
Benefits
By choosing Tale of Data, our customer was able to achieve BCBS 239 compliance and benefit from multiple advantages, including:
- Reduced regulatory reportingtime.
- Automated data aggregation: alerts are automatically raised if consistency rules are violated.
- Production of accurate and reliable risk data.
- Reduced risk of non-compliance.
Product Benefits
Integrate
Seamless integration of AI and No-Code technology for effective data refinement.
Collaboration
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Visualize
Powerful
Quality
Achieve superior data quality faster and at a lower cost, while demonstrating the tangible value of investing in data excellence.