EY India ART, built on Snowflake, redefines regulatory reporting for BFSI

As India’s regulators tighten their grip on data-driven oversight, financial institutions are under pressure to meet rising compliance demands with greater speed, accuracy, and transparency. In an exclusive conversation with Dataquest, Alexy Thomas, Partner – Technology Consulting, EY India, and Dhiraj Narang, Director and Head of Partnerships – India, Snowflake, discuss how the newly launched EY India Automated Regulatory Tool (ART)—built on Snowflake’s AI Data Cloud—is set to transform financial reporting and strengthen compliance in India’s regulated sectors.

Rethinking the future of compliance

Thomas says the EY India ART represents more than a technological upgrade—it’s a complete rethink of how compliance functions operate. “EY India ART is designed not just to save time but to fundamentally reimagine how compliance is managed. Financial institutions today spend enormous effort reconciling, validating, and transforming data before it reaches the regulator. With ART, we are automating almost the entire reporting lifecycle—from data ingestion and validation to transformation, reconciliation, and submission,” he explains.

That, he says, frees compliance and finance teams to focus on insight and innovation rather than repetition. “The result is a stronger governance culture, faster turnaround times, and a significant reduction in manual reporting effort. It’s about enabling institutions to meet complex regulatory requirements with speed and accuracy while building a foundation for future innovation.”

Aligning with data-driven regulators

Asked about keeping pace with the regulator’s growing appetite for data, Thomas adds, “Regulators today demand both breadth and depth of data, and they’re asking for it in near real time. EY India ART has been built precisely for this new environment. Because it’s cloud-native and powered by Snowflake’s unified platform, it can process high volumes of structured and unstructured data while maintaining full governance and audit readiness.”

He emphasises that adaptability is the real differentiator: “ART is platform-agnostic and integrates seamlessly with multiple data environments, so every organisation can adopt it regardless of its underlying systems. AI-enabled features are already on our roadmap to move toward predictive compliance and proactive risk monitoring. That’s the next phase—compliance that anticipates rather than reacts.”

Building trust through data collaboration

For Narang of Snowflake, the collaboration is a proof point of how cloud-native architectures are reshaping regulated industries. “The core strength of the Snowflake AI Data Cloud is that it provides a single, secure, and scalable environment for all kinds of data—structured or otherwise. In BFSI, where governance, security, and trust are non-negotiable, that matters immensely,” he notes.

“By building EY India ART on Snowflake, we’ve ensured that banks and financial institutions can aggregate data from disparate sources quickly and safely, automate validation and anomaly detection, and comply with RBI, SEBI, and other regulatory mandates. The AI Data Cloud’s built-in encryption, governance, and analytics make it possible to keep up with the pace of digital transformation while ensuring data integrity.”

He adds that the sector is now viewing compliance as an enabler rather than a constraint. “Institutions want compliance systems that evolve as fast as their digital strategies. With ART built on Snowflake, they gain scalability, security, and confidence—turning compliance from a cost centre into a source of resilience and insight.”

Fostering a common vision

Reflecting on the broader partnership, Narang says, “EY and Snowflake share a common vision—to help organisations turn data into business value through secure, scalable, and AI-ready architectures. Our alliance brings together EY’s deep business insights and Snowflake’s advanced platform to co-create solutions that are both practical and transformative.”

He adds, “EY’s recognition as an Elite Services Partner and Industry Solution Partner of the Year for Snowflake highlights the success of this collaboration. Together, we’ve delivered industry-focused AI Data Cloud solutions that enable enterprises to improve reporting, reduce costs, and accelerate innovation. The launch of EY India ART is a natural extension of this partnership—showcasing how domain expertise and data innovation can combine to create a future-ready compliance ecosystem for India’s financial sector.”