Enhancing Quality Assurance in Financial Services through Automated Data Reconciliations

Through our experience, we've observed a recurring challenge faced by many institutions: the inability to consistently achieve their quality assurance objectives. This shortfall often exposes organisations to a range of issues, including operational inefficiencies, heightened error rates, and vulnerabilities in regulatory compliance. A common denominator underlying these challenges is the continued reliance on outdated manual processes for testing and validation.

Manual methods are inherently time-consuming, prone to human error, and often unable to scale with the growing complexity of modern systems. As a result, they fail to provide the accuracy, speed, and reliability required to maintain robust quality assurance frameworks. This not only hinders the ability of organisations to adapt to market demands but also increases the risk of costly mistakes and potential regulatory breaches.

By highlighting the limitations of manual processes, it becomes evident that embracing automation is not just a strategic advantage, but a necessity for institutions striving to elevate their quality assurance standards and enhance efficiency.

Automated data reconciliations offer a range of tangible benefits for financial services institutions with the QA space:

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By embracing automation, institutions can enhance the efficiency, accuracy, and agility of their reconciliation processes, positioning themselves for sustained success in an increasingly complex regulatory landscape.


‍Client Engagement Use Case: Automated Reconciliation for System Upgrade and Data Migration‍

This year, Delta Capita were engaged to project manage a system upgrade and migration project for a retail bank. The objective was to migrate the data, reports, user profiles and other elements from the current legacy vendor platform to the upgraded system.

A Delta Capita team comprising two individuals with expertise in data analytics, automation, and project management were engaged to manage and deliver the new solution within a 7-month timeline. DC owned the data elements of the system migration, including validating the data migration from the current system to the new system. Python was identified as the best tool for the job due to the client technology and data size. The tool enabled the following:

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Following the successful delivery of the automated reconciliation tool the client realised these benefits:

• Increased accuracy of data being reconciled as the script was able to reconcile every datapoint from both files (75 million total) instead of manual checking a subset of rows

• Removed error prone manual checks performed by members of the project team and end users while allowing them to focus on other important tasks

• 10 FTE days reduction by replacing manual data reconciliation into automated python script

• Automated MI built using Python, reducing reporting time and improving insights

• Leveraging script for other important tasks within the project including reports validation, UAT and QA checks

Learn More on how Delta Capita can partner with you. If you are interested in learning more about how Delta Capita can support your Data, Technology Enablement, Automation, Process Improvement, Testing & Quality Assurance, please reach out to Michael.Levens@deltacapita.com, Martin.hillier@deltacapita.com or Conor.Lane@deltacapita.com.

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