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How Do We Stop Spending the First Week of Every Month on Our Partner Bank's MI Pack?

Fintech startups compile the monthly MI pack for their partner bank from exports and spreadsheets. We automate the data pulls, checks and pack so ops review it.

Updated 3 min readBy SpiderHunts Technologies

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Quick answer — TL;DR

The monthly partner MI pack eats a week because every figure is pulled by hand from a different tool, then checked and formatted in a spreadsheet template. We automate the data pulls from each source, run consistency checks, fill the partner's template and give your ops or risk lead a draft to review, question and sign off.

The first week of every month

Your agreement with your partner bank asks for a monthly management information pack. It covers things like customer numbers, onboarding volumes and outcomes, transaction volumes and values, complaints, reviews and incidents. The template is a spreadsheet the partner sent a year ago, with a few tabs added since.

On the first working day of the month, someone in ops or risk starts pulling data. Onboarding numbers from the verification provider's dashboard, transaction totals from a database query an engineer runs, complaints from the helpdesk, review outcomes from the ops sheet, incidents from a Notion page. Each number is typed into the template. Then the numbers do not agree with each other, and the rest of the week goes on finding out why.

Why the pack is so painful

The pack is simple to read and hard to produce. Each figure has a definition, and each source system counts things slightly differently.

  • Different tools use different date boundaries and time zones.
  • Counts of customers depend on what counts as active, and each tool has its own idea.
  • Some numbers need an engineer's query, which competes with sprint work.
  • The template changes when the partner asks for something new, and last month's formulas break.
  • The person who knows how each figure is built is often the only one who can do it.

Late, inconsistent or dependent on one person

A week of a senior person's time each month is a lot for a small company. Late packs are noticed. Figures that change between months without explanation raise questions from the partner that take more time to answer. And if the one person who knows the process leaves, the next pack is a guess.

What goes into the pack and how figures are defined is agreed between you and your partner. We make the agreed definitions repeatable.

An MI pack that builds itself for review

What we build treats each figure in the pack as a defined query that runs the same way every month.

  1. Each figure in the partner's template is written down with its definition, source and date boundary, agreed with your ops or risk lead.
  2. Data is pulled automatically from each source: your database or warehouse, your onboarding provider's API, your helpdesk and your ops tools.
  3. Figures are calculated in one place with the agreed definitions, so they are consistent across tabs.
  4. Checks run before anyone sees the draft: totals that should agree, figures that moved sharply from last month, missing data.
  5. The partner's template is filled automatically, so the format stays exactly as they expect.
  6. The reviewer gets the draft with the check results and a short list of things to explain, and signs it off.
Pack sectionTypical sourceCheck before review
Customer and onboarding numbersOnboarding provider plus your databaseSign-ups equal approvals plus rejections plus pending
Transaction volumes and valuesYour ledger or warehouseTies to the reconciled provider totals
ComplaintsComplaints log or helpdeskOpened, closed and open counts add up
Reviews and restrictionsOps review toolCounts by type against last month
IncidentsIncident logEvery incident has a start, end and summary

If you already have a data warehouse and a tool such as Metabase or Looker Studio, we build on that. If not, a small reporting database in your cloud account is usually enough.

Month end with the pack automated

On the first working day, the draft is ready. The reviewer reads the check results, looks into the two figures that moved, adds commentary and sends it. When the partner asks why a number changed, the definition and the underlying data are one click away.

When the partner changes the template, the change is made once in the build, not relearned every month.

Is the monthly pack a problem for you?

  • It takes days of a senior person's time each month.
  • An engineer has to run queries for it.
  • Figures from different tabs do not agree without manual fixing.
  • Only one person knows how it is built.
  • The partner has queried numbers that changed without explanation.

FAQ

Frequently asked questions

The questions readers ask us after this guide.

Still have a question?

Ask us directly — a senior engineer will get back to you.

Ask about your project

Can you change what our partner asks for?

No. The content is between you and your partner. We make the agreed figures quick and consistent to produce.

Will the automated pack be sent without review?

No. It produces a draft with checks, and your reviewer signs off before it goes.

Do we need a data warehouse?

Not necessarily. For many startups a small reporting database fed nightly is enough.

Can the same data feed our board reports?

Yes. Once figures are defined and calculated in one place, they can feed other reports too.

What drives the cost?

The number of figures and sources, how clean the source data is, and how often the template changes.

Keep reading

More on Problems We Solve

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