Czech bank streamlines its operations with SAS
Automated analysis reduces processing time and mitigates risk
Increased reporting and control accuracy
Company achieved this using • SAS® Enterprise Guide®
SAS supports ČSOB bank in automating and optimizing reporting processes
Československá obchodní banka, a. s. (CSOB) provides its services to all client segments, i.e., individuals, small and medium-sized enterprises, and corporate and institutional clients. CSOB offers its customers a wide range of banking products and services, including products and services of other CSOB Group companies.
The CSOB team, called the Middle Office of Financial Markets, provides P&L reporting, Account Management, and Trade Control monitoring for the Financial and Capital Markets (FT and ALM). It is responsible for the comprehensive reporting and control activities in this area. Its field of vision includes both proprietary and client trades. The team also collaborates with other departments of the bank in the implementation of new products, processes, or systems within the financial and capital markets.
Following technology trends
Given the scale and complexity of the supported tasks and processes, the team uses many tools to process data efficiently. However, with the rapid evolution of technology, new solutions needed to be implemented to provide a higher level of data management and task automation and to streamline key processes.
"As the world of technology around us changes, so must we. However, we are very fond of the macros and tools that we have created in the past and don't want to abandon them. We know that we can't do without looking for new opportunities and updating our tools, including implementing new technologies." Jaroslav Bělka Executive Data Director Československá obchodní banka, a. s.
That's why the bank has decided to look for new tools that best fit the department's skills and needs. This is not an easy road because of the knowledge and competencies required to use advanced technologies. The team is made up of business analysts, not programmers, so the process from implementing a solution to using it effectively can take some time. This caused concerns about whether effective use of the new tools would be possible and whether they would bring tangible benefits.
"The implementation of SAS Enterprise Guide helped us overcome these challenges, and today, we are already using the solution to handle control and reporting activities. The principle of learning from small, simple tasks and gradually gaining scale and experience has proven to be the best way to succeed." Jaroslav Bělka Executive Data Director Československá obchodní banka, a. s.
Time efficiency
For new requirements, the SAS Enterprise Guide is now the first and primary tool that the team reviews for suitability. One example is using the tool to streamline the implementation of the daily reconciliation of purchases and sales of KBC and third-party mutual funds traded through Patria Finance (comparing the bank's records with those of KBC and Patria Finance), which was a regulatory requirement.
Daily reconciliation is automated, and the SAS Enterprise Guide reduces processing time while mitigating the operational risks of manual reconciliation. Experts who have implemented this control process have had the opportunity to quickly learn in practice the capabilities and the way to work with the SAS tool. At the same time, the time required for this task was significantly reduced.
Skills development
The bank's team has been using SAS technology for only a short time, but they already appreciate the value of the solution. SAS Enterprise Guide is an effective tool for process automation and optimization. It is a solution that addresses the bank's business needs, significantly improves the efficiency of existing processes, and provides a foundation for future challenges.
"We started as newbies, gradually improving and taking on more complex tasks. We were able to expand its usability on our own, increase its efficiency, and last but not least, this new development activity is an opportunity for the team to learn something new and very useful in today's technology-driven world." Jaroslav Bělka Executive Data Director Československá obchodní banka, a. s.
ČSOB Group Facts and Figures*
4 mio. +
customers
8000+
employees
200+
branches
