Predict, measure, manage risk; & ensure statutory compliance.
It is observed that most of the BFSI resort to third party Reporting OR are doing in-house xls based calculations for generating Statutory Compliance Reports. Having in-built complete solution for 'Statutory Reports' in CBS Legacy System is rare in BFSI Industry.
TrustBankCBS offers this unique solution as embedded solution with its CBS Platform, to its customers.
TrustBankCBS comes along with a Reports Configurator and pre-configured Business Logics for Statutory Reports. The 'Reports Configurator' offers flexibility to BFSI to adapt to changes in logics / formulas due to changes in the policies by banks, regulators and central banks.
TrustBankCBS generates the reports without manual intervention by way of manual editing or recompilation of the data for the reports. Those reports can be published to the Central Reporting System via XBRL in a STP mode i.e. Straight-through processing without any human intervention.
TrustBankCBS offers complete Statutory Compliance Reporting solution with set of 100+ reports generated and submitted periodically by the banks. The solution offers reports on various topics viz.
- Asset Liability Management (ALM) Reports.
- Offsite Surveillance System (OSS) Reports.
- Statutory Reports for Liquidity Registers, NDTL, Monetary Aggregate, Unclaimed Deposits Report.
- Fraud Management Reports, Financial Intelligence Reports.
- CRR Register, SLR Register.
- Central Bank (RBI in India) Auditors Reports.
BA complete solution powered by architecturally sound data warehouse. The data models designed are scalable enough to accommodate growing volume of data AND ever changing business logics in statutory reporting requirements. The key features of ‘Statutory Reporting’ solution in TrustBankCBS includes:
- Centralized Data Warehouse, Embedded ETL tool.
- Developed on TrustBankCBS Platform; Hence all the requisite data is captured at user level AND there is hardly any requirement of generation of missing data for reporting purpose.
- Automated and Scheduled Extraction Processes.
- Parameterized and Configurable Data Models.
- Configurator facilitates to configure business logics.
- Continual upgradation for ever changing statutory compliances.
- Facilitate compliances to Bank’s internal analytical reporting, internal MIS reporting and Statutory Reporting to Statutory bodies.
Generation of automated Compliance reporting thro’ CBS software, ensures the cleansing and maintenance of accurate data. Such data cleansing activity on embedded Reporting platform results into accurate operations and results in customer services operations, Financial accounting in the CBS Solution. In addition, TrustBankCBSStatutory Reporting solution delivers following value to the BFSI:
- Accurate and timely Statutory Reporting Compliance.
- On-Click generation of report. Easy, quick, unchanged retrieval of saved historical Statutory Reports.
- Increased Efficiency, Minimum manpower requirement for generation and compliance of statutory reporting.
- Improved Risk Management, Surveillance, Assets & Liability Management.
- A 360 degree view of Branch and Bank operations.
- Fast i.e. less time consuming and economical solution.
- BFSI are always prepared, ready to face statutory auditor.
- Successful audit compliances; Auditors satisfaction.