BMW Finance is a credit institution and automotive captive finance company, recognised around the world. Here, Sonia Bourget, Regulatory Reporting Manager, shares her experience of working with Invoke and implementing the Invoke Analyzer module to strengthen the quality and internal control of their regulatory data.

A new SaaS partner to lighten the reporting burden

Invoke’s relationship with BMW Finance dates back to 2018, when AnaCredit came into force. BMW chose Invoke’s solution for its ease of use, and its ability to significantly reduce the technical and regulatory maintenance burden. Building on this first successful project, BMW Finance made the switch to use the solution for all their regulatory reporting needs, in 2019.

Moving towards automated internal control of their regulatory data

BMW Finance naturally turned to Invoke to help develop control of their regulatory data.  In the past, they had used Excel to manage data, which had been time-consuming and cumbersome. The objective was to set up a portfolio of analysis views directly within the solution, including consistency checks and variation analyses on the reported data, in order to be able to assess its validity and coherency at all stages of the process, before submission to the supervisor’s filing portal. 

The Invoke team was attentive and responsive”, says Sonia Bourget. “We had a demo of the Analyzer module, with concrete use cases which corresponded to the ideas we had suggested to them. To date, eighty percent of the project has been validated. All the Analyzer views implemented correspond exactly with what we specified we needed.

The Invoke Analyzer now enables BMW Finance do what they had hoped:

• perform real time data healthchecks,
• anticipate alerts on potential variations of key indicators,
• gain responsiveness,
• and establish a proactive dialogue with regulatory authorities.

All whilst minimising the impact of regulatory developments!