Generating P&L commentaries for a US tier 1 bank
Automating daily P&L affirmation reports for the product control department of a major global bank.
The business impact
The business challenge
The tier 1 bank’s product controllers produce affirmation reports for each of their 580 trading desks, daily. P&Ls must be written, totals tabulated, and amounts affirmed by traders broadly and frequently. Often, due to the volume, human error leads to issues in the reporting. This leads to criticism from regulators in addition to various internal reporting issues. They wanted to automate the “what” and allow their controllers to focus on the “why”.
The NLG solution
Yseop provided a secure, on premise, and multilingual NLG technology that fully automates the writing of the P&L reports. Based on financial data, Yseop’s software produces relevant commentaries taking into account all variations within the daily figures. This commentary is written automatically and sent back to the source system where it can be pulled by the product controllers whenever they want. The product controllers are freed up from ”stare and compare” work.
The Yseop engine produces this commentary in less than a second. We are just scratching the surface with this technology. Director, Global Process Owner, Product Control