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Investec Bank (UK) Limited

Compliance monitoring and reporting system

Summary of issues/requirements

With both external regulatory reporting and internal monitoring of investment activities under ever increasing scrutiny, Investec found that their existing reporting system was too slow and inflexible.
They needed a reliable and robust system that would collate data and produce automated daily reporting for their compliance team. It was critical that this system was up and running within 3 months

Skills Used

  • Microsoft SQL Server
  • Sirius
  • ASP

Solution

Vega delivered a fixed cost solution within the 3 months’ timeframe. The data collection element was well automated and tightly controlled and the reporting system provides clearer and more comprehensive information, enabling the bank to make better business decisions. A secure browser based solution enabled selected roll out of key functionality to other departments in the bank, giving wider visibility and understanding of compliance requirements throughout the organisation. The system is now used by compliance departments throughout the global Investec Group.

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The need for business effectiveness and increased regulation has required us to focus on the use of software, and our user experience has been a good one. The service from Vega has always been client-focused, the team keep abreast of best practice and develop solutions to meet our current needs and maximise future opportunities.

Richard Agnelli, Collas Crill Trust

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Vega is fully aware of the challenges that Financial Services firms face; they understand our ever-changing requirements. The team see the value of well developed, robust and configurable software solutions and in the current wave of aggressive digital transformation, Vega will continue to be a core partner to us.

Adam Jefferies, JTC Group

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Linas Paulauskas, Kleinwort Hambros Bank Limited