ALM Partners’ vast expertise in the financial sector, as well as their long-standing experience with regulatory reporting, make them a flexible and high-quality partner. This is true for both services and business driven development projects.
Svea Ekonomi has grown from a Swedish financing and debt collection agency into a European group, which has led to an increase in its reporting obligations to the Bank of Finland. Svea has been active in the financing and debt collection business for almost 40 years, with the group employing more than 1900 people in over ten countries having its strongest market in the Nordics. As a result of Svea’s growth, reporting requirements have increased to a monthly level. This increase in reporting required Svea to renew its reporting system, which was previously implemented using Microsoft Excel.
ALM Partners is Svea’s partner and supports Svea in their growth. For example, ALM Partners built Svea a needed new reporting system, that is in line with the Bank of Finland’s monthly regulatory reporting requirements. ALM Partners’ regulatory reporting solutions are always tailor–made to individual client needs. Regulatory reporting in the financial sector is an area that requires expertise from various fields, such as banking, legal regulations, BI technology and information management. It also requires ongoing monitoring of the industry and of any legal changes. ALM Partners has a solid track record in reporting by combining business, regulatory and technological expertise in order to build high-quality and impeccable reports.
“ALM Partners’ vast expertise in the financial sector, as well as their long-standing experience with regulatory reporting, make them a flexible and high-quality partner. This is true for both services and business driven development projects.” says Svea’s CFO Jukko Rytkönen.
ALM Partners designed and implemented a new solution for Svea to produce central bank reports. An application product framework was chosen as the basis for the reporting, with a web-based interface from which the application can be used smoothly on workstations without client installation. ALM Partners then analysed the client’s products and balance sheet, as well as defined and uploaded the needed data for the application. Microsoft Power BI was introduced as the visualisation tool, to allow Svea to build reports independently.
Due to the successful project, Svea will be able to thoroughly answer any questions set forth by the authorities and to produce high-quality central bank reports, which are required for Svea to be able to grow. ALM Partners as a partner in regulatory reporting enabled Svea to have this new system, but it also allowed for their own experts to concentrate on their core expertise and their own customers.
“Our cooperation with ALM Partners has worked well. Their experts executed the project efficiently, supporting our work. They have done valuable and reliable work with a great emphasis on our individual needs.” says Rytkönen.
Svea Ekonomi Finland