iCreate Software announces RBI guidelines-compliant automated data flow solution for banks

Bangalore-based, iCreate Software announces that its reporting solution BizScore will enable banks comply with RBI's Automated Data Flow guidelines. End Quote

(1888PressRelease) June 28, 2011 - Bangalore - The RBI, with a view to ensuring accuracy and integrity of data flowing from the banking system to the regulator, had recently released an approach paper on Automated Data Flow (ADF - a straight through process) from various transactional systems of the banks to RBI, to enhance data quality, ensure data integrity / accuracy and timely reporting.

Bangalore-based, iCreate Software today announced its reporting solution BizScore to enable banks comply with RBI's Automated Data Flow guidelines.A packaged BI/analytics solution built specifically for banks,Biz$corefeatures an Extraction Transaction Loading (ETL) layer whichintegrates seamlessly with coreand transactional banking systems, extracts data from these systems and loads into a Consolidated Data Repository (CDR) which is engineered for automated generation of RBI returns through pre-built reporting templates.

BizScore's fully integrated Metadata framework enables auditability of the data lineage from source to report. Configurable business rules, maker-checker, multiple output formats and a code management module ensure that the solution is capable of meeting RBI's reporting guidelines from the same base ADF infrastructure.

Biz$core ADF Solution for banks: Highlights
• 220+ pre-built reporting templates
• Solution delivered off an OLAP ready data mart with pre-configured Integration with most popular Core Banking Systems
• Metadata driven solution with full data lineage from source banking system through to report ensuring easy audit of the data flow
• In-built business definition layer compliant with RBI terminology
• Configurable mapping from internal Chart of Accounts to the RBI specific reporting heads
• In-built Reference Code management functionality for all RBI recommended reporting codes
• In-built XBRL adapter with configurable taxonomies
• 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

Speaking on the occasion, Vivek Subramanyam, CEO, iCreate said, "We are extremely happy about the release of Biz$core's RBI ADF solution that in addition to helping banks become ADF compliant will provide a robust platform to build and deploy industry leading prebuilt Banking Business Intelligence & Analytics solutions to benefit their business stakeholders. At iCreate, given that we are India based, we are delighted to partner with Indian banks on our award winning Banking BI solutions while we continue to see significant traction globally as well."

To help banks learn how they can accelerate their RBI's Automated Data Flow solution implementation, iCreate is scheduled to conduct a live webinar on July 05. Topics covered would be
• Highlights of RBI's Automated Data Flow requirements and the implications for banks
• Complexity and intricacies around ensuring compliance
• Solution options based on each bank's context
• Highlights of Biz$core RBI ADF solution

About iCreate

iCreate is a 'BI for Banking' specialist headquartered in Bangalore, India, with an established presence in Africa, Asia-Pacific, Middle East and Europe. iCreate's unique, integrated BI, Analytics and Performance Management solution, that integrates with standard banking systems ensure banks have a fully functional BI solution running in as little as 100 days, at the lowest TCO and with advanced solutions in areas such as Retail, Corporate Banking, Analytics 360, etc. iCreate is a winner of several premier industry recognitions: including the Red Herring Asia 100, Deloitte Technology Fast 500 Asia and the NASSCOM Emerge 50; an endorsement of its unique 'Banking-specific Business Intelligence' proposition.

www.bizscorebi.com |info ( @ ) icreate dot in | www.icreate.in

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