Financial sector

At CPA FERRERE our group of financial sector experts tracks consumer trends and regulations, to provide innovative solutions for our clients.


Financial institutions are facing constant and unprecedented changes. The expansion of digital technologies, the emergence of new business models accompanied by new players in the sector, customer demands and the need to improve customer experience, and market globalization, as well as the pressure of the regulators on the financial industry generate new challenges.

Our team of specialists in the financial industry analyzes and anticipates the challenges posed by trends and new realities of the sector, proposing and implementing innovative solutions focused on clear strategies, suitable business models and digital operations, global risk management and reduction of regulatory costs based on new technologies.

  • SQA and Testing Services

    Our knowledge of the Financial Sector is a fundamental pillar of the Software Quality Assurance (SQA) service of CPA FERRERE. It allows us to advise our clients in the definition of testing strategies, the creation of plans and the execution of tests to ensure the quality and efficiency of the software, minimizing processing times and reducing the costs associated with error correction.

    We consider Systems Testing a project in itself, immersed in the overall software project. In order to comply with quality assurance, we follow a precise and effective method, with defined stages and specific activities for each phase. We have highly skilled personnel; our methodology has been widely tested and includes the best existing practices.

    Our testing services include:

    • Functional Testing from a Business Perspective
    • Web and Mobile Testing
    • Testing Training
    • Manual Testing
    • Responsive Testing
    • Automated Testing
    • Unit Testing
    • Integration Testing
    • End-to-End Testing
    • System Testing
    • Performance Testing
    • UAT Testing
    • Migration Testing
  • Strategic Analysis: Financial Industry

    Permanent monitoring of the financial systems of the region, analyzing the performance of turnover and profitability for the system as a whole and for each of its institutions. 

    Benchmarking of indicators among institutions and countries to identify opportunities for improvement and detect changes in the strategic positioning of the main competitors of each financial institution by defining peer groups. 

    Strategic Planning and Business Plan. We have professionals in various practice areas who ensure an integral approach to issues. The permanent monitoring of trends in the world and the region ensures our outlook stays in line with these trends and the new challenges that the industry faces globally. Our firm has professionals trained in key areas such as strategic planning, comprehensive risk management, economic analysis and financial planning, tax strategy design, implementation of technological solutions, business analytics, organizational design and change and human resources management. 

    Financial Web Monitor: a Business Intelligence Portal that can be used in an interactive way and through which it is possible to access the balance sheets published monthly by banks and other financial institutions. The Financial Web Monitor allows navigation through the system, the analysis of key variable dashboards and the creation of KPIs for the institutions.  

  • Economic analysis and forecasts

    We follow up on the main economic and financial variables in real time. 

    We create economic reports on a monthly and weekly basis, and we hold meetings with our clients in order to provide ongoing analysis and advice on the economic situation and prospects of the country, the region and the world. Our analysis focuses on the impact of the environment on our clients’ economic, financial and strategic decisions.

    The products and services we develop allow us to perform a profound and systematic monitoring of economic reality, as well as to analyze and interpret changes in the environment and the economic policy responses. 

    Our analysis and projections are based on two pillars: 

    • a body of stochastic frontier models that allow us to understand market evolution and the interrelation between environmental and control variables, policy responses and market balances; and  

    • a set of econometric models for projecting variables such as GDP, inflation and real wages, among others.

  • Customer optimization in the financial industry (CTarget)

    The CTarget service is exclusively focused on the financial industry and was developed through the joint work of three companies with high levels of specialization in banking, social media and behavior prediction models: Bantotal, Idatha and CPA FERRERE. CTarget converts all available data, from inside and outside of the financial institution, into key information so that the business executive can maximize the relationship with each of their clients.

    More than 25 years of experience allowed us to build the best predictive models and specific indicators for financial institutions, incorporating social media as a universal communication channel. CTarget offers specific knowledge of the financial industry embedded in indicators and client and prospect behavior analysis tools.

    Functional and technical characteristics:

    • Single front end
    • Artificial intelligence
    • All devices
    • Application of business rules
    • Social media
    • 100% service oriented
    • Analytical and predictive models
  • Comprehensive Risk Management

    Our main objective is to understand the risks, identify their relationship with the business and develop risk management methodologies and tools, in order to minimize negative impacts and maximize strengths and opportunities for our clients.

    We have a specialized practice in both financial and non-financial Risk Management. We have developed solutions in risk management and can help organizations with:

    • Credit Risk Management
    • Market Risk Management
    • Liquidity Risk Management
    • Operational Risk Management
    • Reputational Risk Management
    • Compliance Risk Management
    • Strategic Risk Management
  • Prevention of Money Laundering and Financing of Terrorism

    We support the Financial and Corporate Sector in the definition and implementation of policies and procedures for the prevention of money laundering and financing of terrorism, with a focus on risk.

    Likewise, we know the best technological solutions on the market that fit every type of organization. We develop innovative methodologies to improve efficiency in customer knowledge processes and operations monitoring.

    Some examples of services we can provide are:

    • Risk analysis of Asset Laundering.
    • Preparation of policy and procedure manuals.
    • Audits of the prevention system.
    • Automation of processes through software tools.
    • Training
    • Process redesign
    • Design of management indicators for the prevention system.
    • Support in operational tasks, outsourcing of services.
  • Consulting and Automation of Reports to Regulatory Bodies and Head Offices

    Financial institutions, multinational companies and corporations that are supervised by the State or other control bodies as well as their own Head Offices, are required to provide a series of reports regarding their businesses performance and compliance with certain technical relations. These reports have different levels of complexity and are sometimes not prepared in an efficient manner. 

    Our service focuses, on the one hand, on advising our clients about the analysis and regulatory feasibility of new lines of business, as well as financial products and services to be offered to the market. On the other hand, once regulatory compliance has been validated, we provide support in the preparation of regulatory reports. We have specific knowledge, experience and the capacity to provide specialized resources for the creation, control and subsequent automation of these reports.

    Through this service we seek to optimize costs for our clients, making it possible for the resources of the institution or company to use their time to focus on tasks that provide greater value for the business.

  • Outsourcing of accounting and financial processes under Central Bank rules and international financial reporting standards

    Financial institutions throughout the world are subjected to strong processes of regulation and control by the government agencies responsible for their supervision. Therefore, institutions must invest time and specialized resources in the process of specific adjustments and accounting closings of the financial industry. Failure to comply with the deadlines and required contents leads to economic sanctions and a high reputational cost.

    Our accounting processes service adapted to Central Bank regulations and International Financial Reporting Standards with a focus on Financial Intermediation Institutions allows our clients to free up their own specialized resources and apply them in activities that generate value for the business.

    We have a team of professionals with in-depth up-to-date knowledge of the business and its processes, allowing us to meet the primary objective of reporting, as well as add value in the optimization of accounting processes and support operational areas on relevant issues such as control of risk caps and minimum levels of reserves and liquidity, among others.

  • Implementation of Reporting Solutions in XBRL Format - Extensible Business Reporting Language

    We help the financial sector, state agencies and corporations to implement reporting solutions in XBRL format. This standard is a language for exchanging information mainly in the accounting - financial areas. We advise the institutions in the definition of taxonomies that take into account the International Financial Reporting Standards, as well as the specific regulatory requirements of each country and consistency controls, for the preparation of the Financial Statements.

  • Payroll management

    This service allows our clients from the corporate and financial sectors to properly and efficiently comply with current labor laws which will in turn impact positively on the personnel management and accounting areas of the company

    At CPA FERRERE we have a multidisciplinary team that specializes in labor matters, with ample experience in payment of wages and benefits.

    Confidentiality is paramount in this service and for this reason our payroll procedure is certified in accordance with the ISO 9001 standard, and our computer security systems are certified under the ISO 27.001 standard.

  • NEXO - Personnel Outsourcing

    We meet your personnel needs in the region

    We have designed a solution to address temporary or permanent personnel needs for companies that plan to settle in the region. NEXO is the personnel provider that attracts talent from different countries to fill those vacancies. 

    With the support of CPA FERRERE, NEXO provides an agile and competitive solution to fulfill human resources needs for any period of time required by any area of the company. 

    NEXO provides solutions to the following needs:

    • Fulfill positions for temporary or permanent staff.
    • Support the cycle of the companies based on deep knowledge of their business.
    • Workforce outsourcing, entrusting some obligations to a team that specializes in labor and social security matters.
    • Access to a wide variety of professional profiles that will be tailored to your specific needs.
  • Global process outsourcing

    Our outsourcing department is the largest in Uruguay and one of the largest in the region. Since 1996, we have been honing our work methodology to support our clients in all administrative processes such as accounting, payroll and other business support processes that a company may need to outsource.

    With more than 20 years of experience and 400 collaborators, we are the main platform for multidisciplinary services providing comprehensive consulting in Central and Latin America.

    We currently provide services for companies in Bolivia, Ecuador, Paraguay, Uruguay, Argentina, Peru, Colombia, Costa Rica and Guatemala.

    The main advantage for our clients is having a single interlocutor for all countries where the company has operations. At CPA FERRERE we are attuned to your needs and can anticipate any eventual problems. 

  • Tax Advice

    This service allows our financial sector clients to efficiently comply with current tax rules.

    At CPA FERRERE we have a team of tax specialists with vast experience advising the country’s premier financial institutions. 

    We offer the following tax services to these institutions: 

    • Recurrent tax advice: preparation or review of monthly and annual tax declarations; response to queries; ongoing support on implementing tax changes, and tracking aspects that materially affect tax computations.
    • Projections and estimates: we make projections and estimates of annual taxes, in line with financial institution needs.
    • Tax consultancy: tax analysis of new products or operations.
    • Tax queries and requests for binding revenue rulings: advice and preparation of documents to be submitted to different authorities, consulting on tax treatment or requesting binding revenue rulings, as provided by current rules.
    • Accompanying on inspections: our multidisciplinary team of attorneys and accountants with vast experience in such matters advises and accompanies financial institutions on all administrative and judicial situations so requiring.  
    • Tax reviews: we also provide services to institutions seeking an external review of the calculations and criteria applied in computing their taxes.  As variations on such services we also conduct full inspection simulations, and well as due diligence reviews in connection with corporate mergers and acquisitions. 
    • Courses and training: we offer financial institutions training courses and talks on pertinent tax issues impacting on their operations.


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