Case Study: MONETA Money Bank achieves 30% faster month-end close and automates IFRS consolidation with CCH Tagetik

MONETA Money Bank a.s. implemented CCH® Tagetik’s software for Disclosure management, iXBRL for ESMA and Consolidation

MONETA Money Bank, one of Czechia’s largest banks with about 3,000 employees and listed on the Prague Stock Exchange, faced a fragmented, Excel-based IFRS reporting and group consolidation process and had no ESMA/iXBRL solution. The bank sought a unified, automated platform to strengthen controls, improve data quality and shorten the monthly close.

Working with partner Inulta, MONETA implemented CCH Tagetik (Consolidation, Disclosure and iXBRL powered by CoreFiling) to automate IFRS conversion adjustments, group consolidation and generation of single-entity and consolidated financial statements. The solution went live on time and on budget in just 15 weeks, handled 200+ consolidation adjustments, achieved over 95% pass rate in UAT and cut the closing cycle from 7 to 5 working days (a 30% improvement).

MONETA Money Bank

Petra Jankovská

IFRS Reporting Manager