PwC gets the clients’ perspective
Qatar Development Bank (QDB) provides loans and financial services to Qatari entrepreneurs and businesses across a range of sectors, fulfilling its mission to support the national economy and promote exports. Based in Doha, QDB is wholly state-owned, and licensed and regulated by the Qatar Central Bank (QCB).
QDB previously used time-consuming, error-prone manual processes to prepare and deliver regulatory reports to QCB. In 2021 QDB engaged PwC to deploy and launch a fully automated end-to-end regulatory reporting solution using SAP Data Services. The solution, which went live in July 2022, has dramatically reduced the time needed to meet QDB’s regulatory obligations, while eliminating errors and ensuring consistency between internal and external reports.
Our Role
Around the world, PwC helps financial institutions to fully automate their regulatory reporting, promoting transparency and building trust. PwC delivered its solution for QDB using our proprietary digital asset “Regulatory reporting for banking”, which eliminates manual activities and allows finance, risk, business and IT teams to focus more on value-added strategic assignments rather than repetitive tasks. As part of our engagement, we have conducted a series of training workshops for QDB staff responsible for the regulatory reports, to ensure the bank has the in-house skills and know-how to operate the solution.
Background to the project
Before our engagement by QDB, the bank typically needed five people who used mostly manual processes to prepare and deliver monthly, quarterly and annual statements with the regulator, as well as ad hoc reports on other topics. . This repetitive task increased the possibility of errors in QDB’s regulatory reports, exposing the bank to financial penalties, as human error needs to be accounted for.
Describe the solution
The solution was customised to meet the QCB’s reporting requirements, which are based on the standards set by the Basel Committee on Banking Supervision (BCBS). In addition, we ensured that the platform that shared QDB’s reports could connect seamlessly with QCB’s portal.
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PwC’s automated solution has improved our data consistency and accelerated the reporting process, while ensuring that QDB is fully compliant with QCB’s requirements.
Nasser Jaber Al Marri
Senior Manager of Management Information Systems (MIS) and Budget
How we helped
Our solution used the SAP data management platform to eliminate all manual tasks, enabling QDB’s finance, risk and IT teams to focus more on value-adding activities. We also conducted workshops to train participants on how to use the platform and how to derive business insights from this information. A series of key performance indicators (KPIs) covering data accuracy, unmapped balances and submission completion, with input from the client, ensures that the platform operates to its full potential and that QDB avoids fines related to delayed or incorrect submissions.
Impact and potential
The solution has dramatically reduced the amount of time and resources that QDB has to devote to routine reporting in order to meet its regulatory obligations to QCB. Meanwhile, PwC has gained valuable experience from the project about how to implement its solution for other Middle East banks with similar reporting challenges.
Since 2016, five banks in Qatar and Kuwait have already adopted the solution, and over the next year, PwC aims to work with financial institutions in Saudi Arabia, the region’s largest banking market.
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Our fully automated solution has delivered a trusted, error-free data platform for Qatar Development Bank which allows its finance, business, risk and IT teams to focus more on value-adding tasks.
Mohamad Kawtharani
Director - Enterprise Solutions, PwC Middle East
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