Retail and business banking rolling forecast

Business Context

The budgeting process in the retail and business banking is time consuming, inaccurate. Different business units have varying ways of calculating different financial metrics, which results in inconsistencies that the central team has to fix. The financial models are not set up optimally for testing hypothesis, resulting in the team having to manually create many versions of Excel files that are prone to error.

Challenge

Finance managers budget inaccurately based on biased intuitions

The finance managers create inconsistent and poorly performed forecasts and budgets based on biased intuitions. The financial models are built in Excel and difficult to update, version experiments and collaborate.

Solution

Create rolling forecast and allow for flexible what-if scenario planning

The solution pulls and update the latest income statements and balance sheets, and calculate the rolling forecast with predictive analytics models. The what-if scenario planning tools allow the finance managers to test assumptions iteratively.