CA Auto Bank collaborates with BearingPoint for ESMA compliance in Germany

In collaboration with BearingPoint, CA Auto Bank’s German branch has achieved ESMA compliance and simultaneously enhanced its ability to meet future regulatory changes through a more robust and technology advanced reporting infrastructure.

Established in 1929, CA Auto Bank is one of Europe’s larger providers of financial solutions in the automotive sector. The company provides financing, leasing, and insurance services for passenger and leisure vehicles in in 18 European countries.

In response to enhanced ESMA requirements for securitization transactions, the German business of CA Auto Bank launched a program to meet ESMA’s standards. Achieving reporting compliance wasn’t an easy task – consolidating the large volumes of loans and leasing data from multiple internal and external systems was a time-consuming and error-prone process.

An analysis of existing ways of working meanwhile found that CA Auto Bank was facing legacy processes and systems, which would hinder compliance in an efficient and effective manner.

The project

The goal of the change program was to meet ESMA compliance, which is essential to maintaining credibility and avoiding penalties, while minimizing manual effort, reducing operational risk, and creating scalable workflows. The bank brought BearingPoint on board as its consulting and technology partner. CA Auto Bank selected BearingPoint’s securitization solution as the foundation for its ESMA reporting.

The project team first assessed data sources, reporting requirements, and regulatory standards to prepare for integrating the securitization tool into CA Auto Bank’s IT system. The next phase involved standardizing the data models and mapping internal datasets to ESMA templates.

To ensure a successful implementation with minimal disruption to the bank’s ongoing operations, the project team conducted rigorous testing cycles to ensure the accuracy and reliability of the data. They also delivered a comprehensive user training program. After go-live of the solution, operational support was provided to facilitate smooth adoption.

A smooth go-live

The project was delivered within the timeframe agreed by CA Auto Bank and BearingPoint.

Commenting on the project, Donald Wachs from BearingPoint said: “Together, we have built a robust, future-proof reporting framework that ensures compliance today and provides flexibility for tomorrow’s regulatory challenges.”

Fast forward to today, and CA Auto Bank has achieved full compliance with ESMA reporting standards, effectively mitigating regulatory risks and ensuring adherence to stringent technical requirements.

Beyond ESMA

Recognizing the strategic relevance of this project, CA Auto Bank seized the ESMA backdrop as a dual opportunity to modernize and strengthen its broader reporting infrastructure.

The agile and scalable reporting infrastructure now helps the bank respond quickly to other new regulatory demands. Additionally, the solution’s flexible architecture allows for smoother upgrades in the future.

“Partnering with BearingPoint has been pivotal in not only meeting the regulatory challenges posed by ESMA but also in strengthening our overall reporting infrastructure,” said Heike Simon from CA Auto Bank. “The seamless integration of their securitization solution has enabled us to automate complex reporting tasks, improve data governance, and position ourselves for future regulatory changes with confidence.”