The financial institution will already reach the break-even point in the second year.
There are constantly new developments in regulatory reporting that require the banks’ reporting software to be adapted. The associated release changes lead to high-testing efforts with increasing complexity.
BearingPoint RegTech has been Bank für Sozialwirtschaft’s (BFS) regulatory reporting software provider since 2006. The financial institution initially used ABACUS/DaVinci to fulfill its regulatory reporting requirements, and since 2018 the new Abacus360 Banking software generation. Until March 2020, tests were run through manual comparisons in BFS’s regulatory reporting department. The BFS was therefore looking for possible solutions to reduce the high testing costs. The logical solution was to extend the use of the regulatory reporting software and to start using BearingPoint RegTech’s test automation tool ABACUS/Testing. With the support of a BearingPoint consulting team, a business case was calculated, which highlighted the significant benefits of ABACUS/Testing. Based on experiences for test expenses without a tool, the business case showed that the potential savings with the use of ABACUS/Testing were estimated at 40 percent in the area of specialist software testing, and 30 percent in the area of test management. The business case was calculated and provided by the BearingPoint consulting team based on the license fee for the full version of ABACUS/Testing and on four to six releases per year.
The case study shows that the investment in ABACUS/Testing is beneficial for BFS and that the break-even point will already be reached in the second year. If you would like to read more about the benefits and the potential savings when using ABACUS/Testing, you can download the comprehensive case study here.