The complex and ever-changing regulatory requirements constantly present the financial industry and its IT service providers with significant challenges. For example, the BAIT set of regulations formulated by the Federal Financial Supervisory Authority (BaFin) requires audit-proof evidence of IT performance parameters for IT outsourcing, regardless of whether these figures are provided by the company itself or obtained from third parties. For many companies, compiling and reporting these key figures poses a major challenge.
The quality of a service provided is usually reviewed and calculated in retrospect, often with many manually supported intermediate steps. The employees responsible manually collate company-wide monitoring data, tickets and incidents from various data sources and generate formatted status reports. Due to the wide range of services, manual reporting is complex, prone to errors and above all time-consuming - because it must be completely accurate. In order to continue to meet the technological challenges and increasing regulatory requirements in the banking sector, efficient process design and the implementation of company-wide standards are essential.
Between the conflicting priorities of client, department, management and regulation, Q-Board One represents a central interface for transparent information provision. Information and reports are automatically distributed across the entire company in a targeted and target group-oriented process. This noticeably reduces the burden on resources, sets standards and reduces costs..
The reports are created, shared and distributed by Q-Board One. Using Q-Board One reduces the time spent on monthly reporting by more than 80%. The quality of the collected data improves and potential for optimisation is also identified in internal processes. This supports upcoming audits in the longer term.