Flexy is used by a mid-tier bank to calculate capital requirements and to approve it
This mid-tier Bank was calculating Capital requirement manually using the standardized approach using excel formulae. Approvals for this calculation was done over email and documents were not being source controlled. The capital calculation exercise is very important for the board, as well as the market and regulators and any issues with this could have serious consequences for the management as well as board.
"A mistake here would prove very costly to the bank in terms of reputation and fines."
Flexy to the Rescue!
The capital calculations were automated using Flexy. Inputs were inputted manually with full audit tracking. Capital calculation formulae were programmed into Flexy. The entire input and calculations were approved using Flexy's approval workflow before being released to internal and external stakeholders.