Case Study: Berenberg accelerates profit center reporting with Progress Corticon

Berenberg accelerates 70 monthly profit center reports with Progress Corticon

Berenberg, a major European private bank, faced a significant challenge in its risk management reporting. The process of manually checking the underlying data for over 70 monthly profit center reports was extremely time-consuming for its analysts and made it difficult to remain compliant with BCBS-239 regulations. To address this, Berenberg turned to Progress Software and implemented its Corticon business rules management system.

Progress Corticon enabled Berenberg's business analysts to validate the rules powering their reports without relying on IT, thanks to an intuitive Excel-like interface. The solution automated accrual postings and cost allocations, which greatly accelerated the creation of reports. This resulted in analysts spending far less time manually correcting data, ensuring high data quality and a reliable, audit-proof basis for decision-making.

Berenberg