Retail Banking Regulations

A regulatory project to respond to Spanish Royal Decree-Law 19/2017, on basic payment accounts, transfer of payment accounts and comparability of commissions, for customers to be able to compare products more easily and move within the Union, benefiting from an internal market in the financial services field. This directive is intended to

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  Make access to basic banking services easier for potential customers

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  Improve the transparency and comparability of commissions applied to payment accounts

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  Improve the transfer of payment accounts

The objective is “to establish common rules of the game for all credit institutions and payment service providers”.

We participated in the process of setting the functional requirements in terms of the products affected, customers (natural persons), level of application (at the “account” level) to ensure proper project execution. With that starting point, we carried out the analysis of the entity’s information platform to determine how to extract the information necessary for the report, requesting the necessary information that does not exist at source. To ensure that the information is correct and necessary for the report, sampling or sets of information specimens are taken with the users.

In the project context, the transformation is also modelled and implemented in PowerCenter, for development of the modelling processes to enable the commercial product, customer, commissions associated with each product in the application period, interest charged and paid, interest rates to be obtained, as well as the loading and extraction of information that is not on the platform. Our team creates final tables and defines the output and reporting structure. 

To ensure the performance of the developments, a recovery of the entire volume of information associated with an account (several customers associated with it) in one year needs to be addressed. Similarly included within the scope of the collaboration are the necessary technical and functional documentation for the developments, the execution of comprehensive testing, test documentation and troubleshooting.

Transfer of the information is carried out by consolidating the information obtained and it is loaded in final tables, downloading information from final table to flat file for transfer. Exploitation of the information is finalised in MicroStrategy with availability of information detail for customer queries, as well as the creation of reports for exploitation of the information in reporting.

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