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DCB Bank selects iCreate's Biz$core Centrum RBI Reporting solution
Jun 11, 2013

Mumbai, June 6th 2013 - DCB Bank today announced the selection of iCreate’s Biz$core Centrum RBI Automated Data Flow (ADF) Solution as part of the Bank’s Governance Risk and Compliance strategy. DCB Bank required a solution that could help automate and expedite it’s regulatory returns submission in templates prescribed by the regulator.

The solution had to integrate seamlessly with the DCB Bank’s transactional systems to enable accurate & timely submission of returns. The Bank chose iCreate’s Biz$core Centrum ADF given its reporting module containing around 200 RBI prescribed reporting templates running off a Centralized Data Repository (CDR), with the solution also supporting multiple taxonomies and output formats. DCB Bank’s decision follows close on heels of other marquee Indian and Foreign banks selecting iCreate’s Biz$core Centrum ADF.

Speaking on the occasion, Mr. Venkattesh R, Executive Vice President & Head Operations, Technology & Human Resources, DCB Bank said, “The Bank required a pre-built RBI ADF solution that would help accelerate our compliance initiatives and also serve as a backbone to address future regulatory mandates. iCreate’s Biz$core Centrum ADF fulfilled these criteria and I am happy of our selection.”

Mr. Amit Agarwal, iCreate’s Global Sales & Business Development Head remarked, “DCB Bank’s decision further reinforces iCreate’s commitment towards the GRC solution landscape. We are confident that Biz$core Centrum ADF will help address the bank’s ADF compliance requirements and we look forward to our other solutions helping DCB Bank meet their larger Information Management & Decision Support requirements”

Key highlights of iCreate’s Biz$core Centrum Automated Data Flow solution:

· Pre-built, multi-country templates as per regulator-specified formats
· Automated flow from banking systems to respective Central Banks
· Configurable approval workflows to enable bank staff to verify and submit the reports
· Multiple taxonomies supported; multiple output formats supported
· Automated mapping / transformation from internal accounting heads and codes into the Central Bank mandated heads and codes
· Solution delivered off OLAP-ready data mart with pre-configured integration with popular core banking systems
· Metadata-driven solution with full data lineage from source banking system through to report for easy audit of data flow
· In-built business definition layer compliant with central bank terminologies
· Configurable mapping from internal Chart of Accounts to the regulator's specific reporting heads
· In-built Reference Code management functionality for all regulator recommended reporting codes
· Dashboards summarizing important metrics across various business functions of the bank for a ‘quick view’
· Configurable maker-checker process with audit trail within the Automated Data Flow

 

Re-disseminated by The Asian Banker

Categories: Technology & Operations
Keywords: DCB Bank, iCreate



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