Case Study: Financial Services Customer – SQL Modernisation and Moving to Azure

Analytics Advanced Specialization

Scenario: Financial Services Customer – SQL Modernisation and Moving to Azure

Problem

A financial institution needed to assess the regulatory reports submitted by reporting institutions  to ensure the information contained was correct and compliant with the requirements of Money Laundering and Terrorist Financing Control Regulations.

In order to support and enable this objective, the institution required a Compliance, Monitoring and Assessment System (CMAS) to ensure information is provided in an efficient and effective format to the internal stakeholders. This meant that data needed to be brought together in a single location from a variety of these reporting institutions, and then be made available to FIC users for analysis and assessment.

Data was stored in a system called goAML, developed by the United Nations, which utilised a complex JSON structure for storing data. Additional data was also stored in the Companies and Intellectual Property Commission (CIPC), which stored information about directors of businesses, who could also be persons of interest to the institution. The institution had never been able to combine these two sets of data before for analysis.

Solution

Altron Karabina developed a data warehouse solution using SQL Server 2019, tabular models, Power BI and Reporting Services. The first phase (Pilot) of the project took data from one external data source (CIPC) and their core line of business system (goAML) to prove that the solution would provide businesses with what they needed.

The project was initiated on-premise using SQL 2016 and upon go-live was migrated to VMs in Azure, using SQL 2019. Reports were developed in Power BI and Reporting Services.

Outcome

The benefits of the solution were immediately apparent. For the first time, users could see consolidated statistics on regulatory reporting which incorporated complex business rules on large volumes of data which could not be processed in the past.

Previously, reporting was limited to the basic operational reports available in their Line of Business System.

Are you looking to explore solving some of the challenges your business endures with a view to digitally transforming your business to cloud technology? 

Want a solution tailored for your organisation? Get in touch with us today.

Leave a Reply

Your email address will not be published.