One of the main objectives of the Enterprise Testing Team at Bank of America is ensuring that all regulators are notified of any applicable transactions. Given that there are millions of transactions happening every minute at BoA, manually preparing and cleansing this data for QA was an extremely slow process. It wasn’t until up to two months after the transaction had occurred that the team could be assured that the appropriate regulators had been notified. This delayed response left BoA susceptible to costly regulatory fines should anything in the system fail and require correcting.
How Designer Cloud Solved this Problem
Bank of America built an automated data ecosystem that included Designer Cloud for data engineering and a combination of Tableau, Qlik, and MicroStrategy for visual analytics. This data stack created a streamlined workflow that alerts BoA in real time should they need to take corrective action on any regulatory measures. Automated recipes developed in Trifacta wrangle data from a variety of sources on command, which are then determined to “pass” or “fail” certain regulatory standards and, later, are made visible in a regulatory monitoring dashboard. The team can easily share these Designer Cloud recipes for regulatory transparency or make quick modifications, if necessary.