Top Topic for Managing Directors: Integrated financial and risk architectures

Are you still busy with your guideline management or are you already working on your core business? Whether BCBS#239 for banks or IFRS17 for insurances, – new regulatory requirements are constantly added. Companies, who continue to hold on to their silo architectures, create, process and prepare the same information separately and provide this to the relevant departments, will need to clamber from one project to the next. This is not only costly and inefficient, it also ties up an unnecessary amount of core resources in the departments. Resources, which companies then lack in strategically important areas.

Disadvantage of heterogeneous IT architectures

It’s time for a sustainable solution

Instead of setting up additional Silo or ICS or SOX controls for each new regulatory reporting requirement, companies should now take this opportunity to set up their financial and risk architecture more sustainably and more flexible. Here, the focus should be on the harmonization of the intelligent integration of all relevant information in a central data household.

Find out more about our solutions in the insurance sector!


An integrated financial and risk architecture sets the course of your future. You will enable your financial department to take on an entirely new role – away from “number crunching” and a past-oriented control function, towards a strategic decision-making support for all departments and management. It allows to look forward again, showing future-oriented potentials or risks for your business decisions.

Wolfgang Schütte-Felsche, Partner and Finance and Controlling expert at Q_PERIOR

Integrated financial and risk architectures - What is that?

The IT landscapes of banks and insurances are typically heterogeneous and still dominated by historical separation. Different company departments such as accounting, controlling or reporting draw on separate solutions or data. This results in data silos, which are very difficult and very time-consuming to maintain and expand. IFRA is an architectural approach to dissolve this heterogeneity with respect to raw materials, methods and processes. The goal of integrated financial and risk architectures includes the reduction of data silos and thus the associated harmonization as well as integration of a large part of the information for more efficiency and flexibility in strategic and operational reporting.

What are the advantages of an integrated financial and risk architecture?

  • Transparency: An intelligent data management ensures transparency, reconciliation and transferability of the data from different departments

  • Simplification: The overall complexity is reduced as a result of replacing individual point-to-point interfaces and data silos

  • Automation: The degree of automation is increased, which in turn reduces proneness to errors

  • Process efficiency: The effort for reconciliation is reduced while financial, risk and management reports are generated more quickly

  • Flexibility: New regulatory requirements can be implemented more quickly and more cost-effectively
  • Savings: In the company, costs are significantly reduced both on the IT and departmental side

  • Quality: The increasing demands on content quality, granularity, scope and frequency of reporting are fulfilled much better

  • Agility: Customer requirements and new technological developments can be responded to more quickly (time-to-market)

In addition to the aforementioned advantages, an integrated financial and risk architecture also affects reporting; the focus is no longer on the reporting of the individual departments but rather on the comprehensive company management.

The Q_PERIOR Data Management Design Framework

The Q_PERIOR Data Management Design Framework offers an extensive overview of the topic of data management. It examines all aspects of sustainable data management, from data strategy to data culture. The tools and methods mapped out in the framework help you broach these sub-aspects in an efficient and structured manner.


If you agree that data silos and special solutions should finally be a thing of the past, contact us. Our experts are responsible for ongoing IFRA projects in the financial services sector. They will gladly provide you with an overview of comparative architectures and relevant best practices, so you can quickly get an idea of how your specific target architecture could look like. Our IFRA experts always ensure that potential projects fit in the overall project landscape and support your defined company strategy. But that’s not all! For a smooth implementation of your project and quick reliable results, we also provide you with advice on suitable software solutions. Always neutral – Always with the aim of choosing the perfect solution component for your integrated financial and risk architecture. Benefit from our technological, technical and methodological know-how in the field of IFRA and contact us!

Have we sparked your interest on the topic of IFRA?

At Q_PERIOR you always have experts on your side.
We look forward to your challenge!