Ramco's Solution for Banking and Financial Service Institutions – Bank on IT for Success
Be agile. Innovate on demand. Control and optimize processes. Speed up success.
Changes in the economic environment can significantly affect banks, insurance firms and other players in the Financial Sector. To weather these changes successfully and to insulate your firm and clients from macro and micro-economic changes, you need to constantly innovate and restructure yourself. While doing this, you will also need to comply with regulatory norms, meet the diversified demands of your customers and focus on improving profits.
Advanced technologies can help you strategize and prioritize your actions, act upon incipient weaknesses swiftly and grow ceaselessly. Ramco delivers a full spectrum of innovative, agile enterprise solutions and services for Banking and Financial Service Institutions. Ranging from point-solutions to large-scale deployments that encompass several banking processes, these service-enabled solutions can help you become 'model enterprises' that are capable of easily expanding and adapting to new or changing business processes.
Making Compliance Easy with GloRRIA
Ramco’s end-to-end Compliance and Regulatory Reporting for Banks and Financial Services Institutions (BFSI)
- Integrate data from multiple sources into a comprehensive and Logical Data Model
- Ensure single version of truth across all operational and business reports
- Recognize early warning signs and make appropriate amendments through an auditable process
Not just a Reporting Solution! Ramco GloRRIA provides Auditability, Governance, Traceability and much more…
All local and foreign banks are required to submit a set of compliance reports to the Central Bank at regular periodicities without any manual intervention. Ramco’s Global Regulatory Report Architecture (GloRRIA), which is built with the Centralized Data Repository as its foundation, is well positioned to help banks meet these guidelines.
With the help of its pre-built Logical Data Model, the GloRRIA framework helps build connectors to the bank’s source systems, stores data from different regions in a centralized warehouse, converts the data to prescribed formats and submits it in the layouts specified by regulators from various countries where the bank operates. It would serve as a comprehensive single point solution for the entire gamut of regulatory reporting needs of the bank.
Benefits to be leveraged using GloRRIA
- Prebuilt repository of returns and their logic with a configurable rule engine
- Comprehensive pre-built Logical Data Model, capable of addressing regulatory requirements and the bank’s internal MIS requirements
- Integrated metadata to ensure data harmony across different applications
- In-built capabilities for data profiling, validation and feedback, ensuring solution friendliness
- Multi-country, mutli currency, single instance for regulatory reporting
- End-to-end process, right from Data Extraction to Submission, threaded together with a configurable workflow with data lineage and audit trails, thus lending a robust governance framework
Ramco Analytics Suite – Banking & Insurance
Rich, powerful, pre-built Analytics from Ramco, available on Cloud, enables Bank-wide Performance Management
Ramco Analytics Suite is the most comprehensive business analytics tool for today’s decision makers. It provides a 360 degree view of the organization’s performance and empowers users with critical insights into the Key Performance Indicators (KPI) that can ‘Measure, Monitor and Manage’ their business goals and growth. It also adheres to the global standards on business reporting and it comes bundled with an XBRL engine, which ensures meeting the current and future definitions of reporting standards. It has the capability to generate automated, rule-driven alerts to decision-makers through e-mail and mobile devices, and enable management by exception.
The BI Solution for banks covers the complete range of functional areas under Retail and Corporate Banking, viz: Loans, Deposits, Trade Finance, Financial Performance, Trade Finance, Treasury, Risk and Customer. The solution has dedicated modules for Products, Channels, Sales and Marketing as well.
The Insurance BI Solution covers the complete range of functional areas like Sales & Channel Management, Operations Management, Claims, Marketing, Risk Management, Profitability and Regulatory Reporting.
Ramco Analytics Suite for CFO office is a comprehensive solution addressing Governance and Compliance, Planning and budgeting and their entire BI needs. It is a web based portal with rich dashboards, interactive charts and ad-hoc reports with integrated metadata management and multi-layered security configurations.
Ramco also leverages its in-memory tool, Minnal, to run near real time algorithms for predictive analysis, such as Persistency Analysis, Social media activity, marketing ROI, etc.
Below are key features of the Solution that make it extremely competitive
- Leaders in BI and statutory reporting in the Banking Industry
- Reliability of a product company with unrelenting focus on Research and Development
- Pre-built and easily available data model for Analytics across all areas of Banking and Insurance
- In-memory processing to enable faster and regular response to events, deadlines and their impact on business
- Mobility across iPad, iPhone and Android devices
- Multi tenancy enabled, providing multi currency and multi country operations
- Tested and proven solution capable of handling high volumes of data and user traffic, which is suitable for enterprise-wide deployment
- Enterprise-grade security and access control for configurable User Management
- Aided by the comprehensiveness of the data model, the solution is extensible into a Data Warehouse, serving all BI and MIS requirements of Insurance companies
Drive Compliant Purchasing. Take Complete Control of Costs and Risks. Optimize your P2P Cycle.
Ramco’s Procurement Solution caters to all the processes of the procurement cycle. Using Ramco Planning and Budgeting Solution, financial institutions can plan ahead, optimize utilization of resources and control the budgets allocated through variance analysis. This ensures that the purchase is within the budget.
Ramco Fixed Assets Management enables financial institutions to manage and monitor physical assets throughout their life span.
Ramco Project Management helps to allocate budgets across multiple years and to monitor payouts on achievement of milestones.
With the Ramco Procurement Solution, you can empower your team, impose processes through configurable workflow, reduce cost, gain better control, automate and integrate the entire life cycle from planning and budgeting, to tracking and maintaining projects and managing assets. It provides easy integration with the suppliers, allowing them to have improved efficiency and transparency with their partners. The system also provides a Vendor Management system, rating vendor performance on pre-defined criteria.
- Configurable workflow for better process control
- Availability of templatised purchases for new branches, ATM roll-outs, etc.
- Mobility across iPad, iPhone and Android devices
- Alerts for appropriate notifications to different recipients
- Standard set of reports for better decision-making capabilities
- Synergy of the forces of cloud, mobile, social and information
Ramco Planning and Budgeting
Plan and Budget for Your Business Unit and Organization
Ramco Planning and Budgeting is a workflow-driven framework that helps you to configure your planning and budgeting model. It comes with pre-built cost, revenue, capital and business budgeting templates, and also allows users, with assistance, to create complex planning templates to ensure that the budgeting process is complete in all respects. It also allows collaboration across various users, with the capability to change the rules and to view the business outcomes.
- Web-based user interface access
- Integration with Microsoft Excel, allowing import and export of data, for easy offline working
- Pre-built banking templates for Revenue, Capital, Cost, Business Budgeting, Rolling budgets and Forecasts
- Integrated reporting makes available additional information to the management and other users, for monitoring the organisation’s performance
- Configurable Work Flow Engine – Enables you to represent the process flow of an organization through graphical workflow with already defined decision rules
- What-if scenarios – facility to create what-if scenarios using pre-defined business rules
- Historical data – facility to attach historical data, helping you evaluate the past and plan better for the future
- Versioning – facility to create different versions of a plan based on changes made
- Security rights – facility to define security rights for different plan elements at different levels of hierarchy
Ramco Reconciliation System
Reconcile your transaction across systems. Reduce investment in non-core areas.
Perfect reconciliation is a must when you are working with multiple systems. Ramco’s rule-based reconciliation system helps reconcile entries in two or more systems. This generic reconciliation system is flexible and powerful, resulting in significant saving of time and efforts.
- User-configurable rules for better record matching
- Replace several reconciliation systems with one generic system
- Manage multiple currencies
- Process and reconcile over 200000 records within a minute
Ramco Real-time Cash Availability solution
Manage transactions effortlessly with a tailored solution
Counter Cash Management takes care of the day-to-day operations, relating to cash transactions and cash balances. This will help manage the transactions performed between the vault, ATM, teller and customers. Details can be captured at the denomination level thus enableing better monitoring.
- Perform day to day transactions between teller and vault along, with denomination details of the transactions
- Perform day to day transactions between teller and customers, along with denomination details of the transactions
- Provision to set up for foreign currencies
- End of the day reconciliations
- End of the day validations, based on geographies and business rules
Know Your Customer (KYC)
Understand your customer’s world. Predict risks. Minimize friction.
Know Your Customer is an important regulatory process mandated to be performed by all financial institutions. Ramco KYC helps financial institutions follow KYC guidelines, manage customer data and perform risk assessment of each customer in a comprehensive manner.
- Financial institutions can manage and maintain customer-related information in a centralized fashion manner
- Manage risk scoring attributes which would determine the risk score of the customer
- Robust risk scoring model to generate the risk rating for customer, based on the attribute value and weightage
In the current global economic downturn, the Banking and Financial Services industry has witnessed an adverse impact on its financial performance. The industry now has to deal with an enhanced regulatory environment, and an increased focus on risk management. The industry is also witnessing consolidation and inorganic growth. This necessitates increased operational efficiency, as well as improved workforce productivity and execution ability.