Avantage Reply helped the regulatory reporting department of a leading private bank to review its AnaCredit reporting, improving its data quality.
The bank regularly received negative feedbacks from the monetary authority because of issues with its AnaCredit data quality. A big part of those errors kept happening in relation with static data, mostly because of incorrect or missing Balance Sheet total Amount, Turnover and Number of Employees.
The bank’s management decided to tackle this issue by reviewing all of their static data at the same time in order to be on line with the regulator’s expectations. Avantage Reply helped the bank to review its data, ensuring its accuracy and completeness, as well as helping to gather missing information.
The objective for the customer was to improve the data quality of its AnaCredit reporting and to reduce the likelihood to receive negative feedback from the regulator.
The main challenges were:
Avantage Reply began its mission by: