Case Study: Erste Group achieves flexible, compliant financial consolidation with Wolters Kluwer CCH Tagetik

Erste Group - Customer Case Study

Erste Group Bank AG, a major financial services provider in Eastern Europe, faced significant challenges due to its rapid growth and complex regulatory requirements. Its existing consolidation software’s maintenance was ending, and it struggled to meet the impending, highly granular reporting demands of the European Banking Authority (FinRep) while managing a consolidation scope of 700 companies. To address this, Erste Group chose to implement the CCH Tagetik performance management software from Wolters Kluwer ELM Solutions.

Wolters Kluwer implemented CCH Tagetik, providing a unified application for group consolidation, IFRS/FinRep compliance, segment reporting, and risk management. The solution enabled faster, more flexible consolidations, decentralized intercompany matching, and established common group standards. This created a clean flow of information, greater process transparency, and allowed the bank to efficiently respond to new regulatory and internal ad-hoc inquiries, equipping them well for the future.

Erste Group

Barbara Kainz

Director Group Consolidation