Challenge

The Client, a global leader in banking, prioritized business agility over auditability and traceability, leading to the proliferation of Excel-based end user computing (EUC) apps across their financial risk department. These apps were an essential part of their financial operations & allowed end users to manage, control and manipulate data quickly and efficiently. This made EUCs appealing and critical to business structures, but also were susceptible to fraud and errors due to manual interventions, regulatory and compliance challenges, and a lack of forensic and audit capability.

 

In one such instance, an inadvertent human error led to a large overpayment, resulting in billions of dollars in losses and fines. Under regulatory pressure, the client needed to remediate these high-risk EUCs

 

Solution

With over 1000 EUCs, across 3 business centers, 8 functions and 800+ SMEs; each EUC was a process in itself with constantly changing regulatory, computational, and process requirements. Most of the existing solution lacked enterprise-scale process orchestration, security, access and version control, extensive integration capabilities, and an open system to enable extendibility of product functionality.

 

Wipro created a structured solution through its EUC remediation framework (governance, people, technology and process) and led with a product-style digital delivery through its proprietary EUC automation platform built on Appian. The platform provided a low-code, configurable approach to remediating EUCs into an auditable, traceable, regulation-compliant core IT application while retaining the flexibility of Excel and accommodating changes without much rework.

 

We engaged the risk centers of the client to create an exhaustive change-management program where users were continuously engaged across the SDLC through workshops, demos, trainings, and assisted production run to ensure full adoption.

 

Outcomes

Wipro’s accelerated implementation allowed the bank to meet its regulatory requirements and avoid millions of dollars in additional fines. With 100% adoption of its platform, the goal is to prevent future losses by ensuring a traceable, auditable, compliant risk process that is free of all unnecessary manual interventions.

 

Some key benefits of leveraging Wipro’s framework:

  • 100% configurable
  • 30% to 50% faster than traditional approaches for remediating EUCs
  • 30% to 40% reduced SME time during the remediation process
  • up to 60% reduction in time to add/modify existing EUCs

 

To know more about the solution, click here.

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