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Central BankSupervisionCOREP
Validating 200+ Bank Submissions Monthly
National Central Bank
3,000+ employees
8 weeks
75%
Processing Time
40%
Rejection Rate
200+
Coverage
+35%
Data Quality
The Challenge
A national central bank responsible for prudential supervision needed to automate validation of COREP/FINREP submissions from 200+ supervised entities.
Pain Points
- ✗200+ monthly submissions to validate
- ✗Manual review creating 2-week backlog
- ✗Inconsistent feedback to banks
- ✗No visibility into submission quality trends
- ✗EBA xBRL-CSV transition planning
The Solution
Deployed Xerify as a pre-submission validation gateway, allowing banks to validate before official submission and reducing regulator workload.
Key Features Used
Pre-submission validation portal
Automated quality scoring
Standardized error messaging
Supervisory analytics dashboard
xBRL-CSV/OIM transition support
API for supervised entities
The Results
75%
Processing Time
Reduction in validation backlog
40%
Rejection Rate
Decrease in submission rejections
200+
Coverage
Banks using pre-validation
+35%
Data Quality
Improvement in submission quality
"The pre-validation gateway has dramatically improved submission quality. Banks now fix issues before submission, saving everyone time."
Director of Prudential Supervision
National Central Bank
Implementation Timeline
1
RequirementsWeek 1-2
Supervisory needs assessment
2
DevelopmentWeek 3-5
Custom portal development
3
PilotWeek 6-7
Testing with 20 pilot banks
4
DeploymentWeek 8
Full rollout to supervised entities
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