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World’s 5th Largest Bank

In this regulatory compliance case study, our client, the world’s 5th largest banking enterprise, utilized Storyteller to help deliver compliance value faster through comprehensive regulatory events mapping, workflow-driven collaboration and auditable evidence. The bank already realized the full benefits of its investment in the forms of a more efficient evidence management program, a robust repository of regulatory requirements artifacts ripe for reuse and reduced operational risk.

Company Profile

Our client is the world’s 5th largest banking enterprise. Like other financial institutions, they were struggling to sail through this ever-changing compliance landscape. The bank was also spending an increasing amount of time and money trying to meet the expectations of both internal and external auditors.

Industry: Financial Services
Employees: 204,000
Annual Revenue: $110 Billion
Customer Since: 2016
"We wanted a regulatory change-management solution and not “just” a tool. We wanted a best-in-class, enterprise platform that would enable our business units to deliver effectively and efficiently on what was being asked of them, Storyteller not only served its purpose but surprised us with the excellent outcome."
- Senior Business Analyst | World’s 5th Largest Bank
Blueprint Selection Process
Benefits Achieved with Blueprint

Benefits Achieved with Blueprint

The bank decided to utilize Storyteller, a leading Agile planning & compliance management platform, to drive compliance and mitigate risk and achieved the following business benefits. 
Enabled Reuse Across Projects
The bank began using Blueprint’s Storyteller for regulatory compliance and change management to a selected group of users. After noticing significant benefits, it has now rolled it out for a wide range of departments and included additional regulatory compliance programs, including KYC/AML, CCAR, Liquidity Risk, CECL, Basel/FRTB, MiFID II and GDPR.
Integration with Other Tools
The bank also extended its regulatory compliance mapping to include data lineage for financial regulations by integrating Storyteller with its Collibra meta-data repository.
Regulatory Requirements Artifacts
With Storyteller, the bank has the best-in-class regulatory change management solution it wanted and has already realized the full benefits of its investment in the forms of a more efficient evidence management program, a robust repository of regulatory requirements artifacts ripe for reuse and reduced operational risk.
Challenges Faced before Blueprint

Challenges Faced

Large banking enterprises often struggle to achieve compliance in a rapidly changing compliance environment. The bank too faced the following challenges.
Manual Tasks
Teams were spending too much time doing manual work. Business units were relying on a highly manual, labour intensive, spreadsheet-driven processes that were prone to errors and oversights, cumbersome, expensive and static. Additionally, it was challenging to generate reporting to provide an executive view of compliance progress.
Critical stakeholder interpretations were often missed
Because the process was primarily manual, it was dependent on the availability of key stakeholders to provide inputs. Since it was a manual process, it was tough to collaborate and receive interpretive feedback.
Regulatory changes were impossible to manage
The lack of a tool to enable detailed mapping and analysis of anticipated regulatory changes left the Bank exposed to material risk.
Blueprint Key Features

Blueprint Key Features

The bank sought an enterprise-class platform to help deliver compliance value faster through comprehensive regulatory events mapping, workflow-driven collaboration and auditable evidence. The bank selected Storyteller for a variety of features the tool provides.
Unified Enterprise-grade Repository
With a shared, centralized repository of regulatory information, including source regulations decomposed into individual obligations, interpretations, processes, policies, procedures and controls and related system requirements, the organization has an auditable, scalable system of record, which is particularly useful for capturing feedback during review sessions where misinterpretations can be highlighted right away by stakeholders during the session. A shared repository also enables regulatory reuse and can be leveraged to drive machine learning activities, including Storyteller’s Intelligent Recommendations capabilities.
Regulatory Requirements Trace Engine
The bank leveraged this capability to efficiently map and manage Legal and Risk Review of Regulatory Changes, Obligations (Regulations and Business Requirements), Controls (Business and System Requirements) that are ultimately reflected in Evidence (Regulatory compliance reports to auditors). The bank has over 4,000 regulatory reports worldwide.
AI-driven Source Intake
Storyteller enables the bank to ingest regulations in a variety of ways automatically. A Storyteller PDF highlighter utility seamlessly parses documents into ingestible components. Storyteller also offers advanced regulatory horizon scanning and intake technology that leverages AI and Natural Language Processing.

Benefits Achieved with Blueprint

The bank decided to utilize Storyteller, a leading Agile planning & compliance management platform, to drive compliance and mitigate risk and achieved the following business benefits. 
Enabled Reuse Across Projects
The bank began using Blueprint’s Storyteller for regulatory compliance and change management to a selected group of users. After noticing significant benefits, it has now rolled it out for a wide range of departments and included additional regulatory compliance programs, including KYC/AML, CCAR, Liquidity Risk, CECL, Basel/FRTB, MiFID II and GDPR.
Integration with Other Tools
The bank also extended its regulatory compliance mapping to include data lineage for financial regulations by integrating Storyteller with its Collibra meta-data repository.
Regulatory Requirements Artifacts
With Storyteller, the bank has the best-in-class regulatory change management solution it wanted and has already realized the full benefits of its investment in the forms of a more efficient evidence management program, a robust repository of regulatory requirements artifacts ripe for reuse and reduced operational risk.

Challenges Faced

Large banking enterprises often struggle to achieve compliance in a rapidly changing compliance environment. The bank too faced the following challenges.
Manual Tasks
Teams were spending too much time doing manual work. Business units were relying on a highly manual, labour intensive, spreadsheet-driven processes that were prone to errors and oversights, cumbersome, expensive and static. Additionally, it was challenging to generate reporting to provide an executive view of compliance progress.
Critical stakeholder interpretations were often missed
Because the process was primarily manual, it was dependent on the availability of key stakeholders to provide inputs. Since it was a manual process, it was tough to collaborate and receive interpretive feedback.
Regulatory changes were impossible to manage
The lack of a tool to enable detailed mapping and analysis of anticipated regulatory changes left the Bank exposed to material risk.

Blueprint Key Features

The bank sought an enterprise-class platform to help deliver compliance value faster through comprehensive regulatory events mapping, workflow-driven collaboration and auditable evidence. The bank selected Storyteller for a variety of features the tool provides.
Unified Enterprise-grade Repository
With a shared, centralized repository of regulatory information, including source regulations decomposed into individual obligations, interpretations, processes, policies, procedures and controls and related system requirements, the organization has an auditable, scalable system of record, which is particularly useful for capturing feedback during review sessions where misinterpretations can be highlighted right away by stakeholders during the session. A shared repository also enables regulatory reuse and can be leveraged to drive machine learning activities, including Storyteller’s Intelligent Recommendations capabilities.
Regulatory Requirements Trace Engine
The bank leveraged this capability to efficiently map and manage Legal and Risk Review of Regulatory Changes, Obligations (Regulations and Business Requirements), Controls (Business and System Requirements) that are ultimately reflected in Evidence (Regulatory compliance reports to auditors). The bank has over 4,000 regulatory reports worldwide.
AI-driven Source Intake
Storyteller enables the bank to ingest regulations in a variety of ways automatically. A Storyteller PDF highlighter utility seamlessly parses documents into ingestible components. Storyteller also offers advanced regulatory horizon scanning and intake technology that leverages AI and Natural Language Processing.

“We now have the world’s best-in-class regulatory change management solution and already realized the full benefits of our investments. We now also have a robust repository of regulatory requirements artifacts ripe for reuse and reduced operational risk.”

Senior Business Analyst | World’s 5th Largest Bank

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