Case Study: Automating Funds Disbursement Reporting for a Casino Client
Client Challenge
Our client, a prominent casino operator, faced a complex reporting requirement for their funds disbursement transactions. They were required to submit detailed reports to FINTRAC and other regulatory bodies, documenting each financial transaction made by customers. This reporting structure was particularly intricate because each customer’s account in the casino involved a variety of transaction layers:
- Account Setup: Each customer initiated their casino activities by opening a dedicated account.
- Transaction Types: Under each account, multiple transactions could occur, categorized as deposits and disbursements.
- Disbursement Complexity: Each disbursement had a specific method (e.g., cash, bank transfer) and a corresponding reason (e.g., winnings, refunds). Moreover, each method had subcategories for cash and bank accounts, creating a multilayered structure for transaction tracking.
Due to the detailed reporting requirements, this multilayered report was previously managed manually in Excel, resulting in labor-intensive processes, delays, and risks of errors due to data volume and complexity.
Solution
To address these challenges, we developed an automated reporting solution that organized and simplified this intricate data structure while ensuring compliance with FINTRAC guidelines. Our approach involved the following key steps:
- Data Denormalization
We denormalized the casino’s financial transaction data to create a more report-friendly structure. This allowed us to break down the data into meaningful, easy-to-read sections that aligned with regulatory reporting requirements. Denormalization ensured that data from various layers (account, method, reason) could be displayed on a single, comprehensive report for each customer. - Data Grouping and Hierarchical Organization
Using advanced grouping techniques, we structured the data by customer accounts, each layer representing specific transaction details. This grouping enabled the report to present clear and organized financial records per customer. - Implementation of Subreports
To capture the detailed subcategories within each disbursement method, we utilized subreports. Each main report included linked subreports for various disbursement methods, ensuring every cash and bank account disbursement was accurately reflected within its respective category. This made the report navigable, even with its multilayered data. - Automated Report Formatting and Output
The finalized report was designed in the document format required by FINTRAC and other regulatory entities. This automation reduced the time and effort involved in manual Excel-based reporting and allowed for faster submission to relevant departments.
Outcomes
By automating the funds disbursement report, we delivered significant benefits to the casino client:
- Efficiency: Reduced the need for manual data entry and formatting, minimizing the risk of errors.
- Speed: Enabled rapid report generation, expediting the submission process to FINTRAC.
- Compliance: Ensured that all financial transactions were recorded in the required format, aligning with regulatory standards.
- Scalability: The report could handle a high volume of customer transactions, accommodating growth in the casino’s client base.
This automated reporting solution transformed a challenging, multi-layered process into an efficient, reliable, and compliant workflow, enhancing the casino’s operational productivity and regulatory alignment.