Ramco's Solution for Banking and Financial Service Institutions – Bank on IT for Success
Be agile. Innovate on demand. Control and optimize processes, to speed up success.
You operate in a sector that is challenging, demand and vulnerable - any changes in the economic environment significantly affect banks, insurance firms and other players in the Financial Sector. Industry leadership is hard to earn, but definitely worth the effort—you get power and responsibility. To experience the sweet taste of success, you need to continually innovate with unparalleled speed and control; restructure and take effective steps to insulate your firm and your clients from macro- and micro-economic changes and the consequent risks; comply strictly with the regulatory norms; meet the diversified demands of customers and improve profits.
Well, the best way out is to bank on advanced technologies to strategize and prioritize your actions, address the challenges, act upon incipient weakness swiftly and grow ceaselessly. Ramco delivers a full spectrum of innovative, agile enterprise solutions and services for the banking and financial service institutions. Ranging from point-solutions to large-scale deployments encompassing many banking processes, these service-enabled solutions help banking and financial service institutions (BFSI) become 'model enterprises' that can easily expand and adapt to accommodate new or changing business processes.
Ramco's BFSI solutions are model-based, developed using Ramco VirtualWorks®. These solutions are composed, not coded, using existing or newly-created business assets that adapt and scale with your business requirements. Based on service-oriented architecture (SOA) standards, these solutions are technology agnostic, perpetually state-of-art, cost-effective and seamlessly integrate with your existing or new applications.
You can quickly and easily implement and use Ramco’s pre-point solutions such as Fund Sweep System, Nostro Reconciliation, Retail and Loan Origination and Customer Relationship Management (CRM) to become agile, proactive, and responsive to the market. What is more, these solutions also integrate perfectly into one seamless support system for your organization—fuelling not just day-to-day operations but sustainable strategic growth as well.
End to End Automated Data Flow Reporting Solution
Not just a Reporting Solution; Ramco ADF 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 ADF Reporting Solution helps the bank in meeting these guidelines through its Entity Model based approach, which ensures the data extraction from the various source systems is optimized. The submission of the central bank statutory report, mandated by the RBI, is done in an automated manner via XBRL (extensible Business Reporting Language)—a global standard for communicating and exchanging business information, digitally.
- Single version of truth across multiple reports referring to the same subject area.
- Data Lineage feature to trace back the CDR contents with details of source systems and timestamp of extraction.
- Validation and reconciliation mechanism to ensure anchoring of reports to Financial Books.
- Configurable workflow to schedule, includes adjustment data, audit and trace it back to the data owner.
Ramco Banking Analytics – 360° Performance Management Solution
Rich, Powerful, Pre-built Analytics from Ramco enables Bank-wide Performance Management.
Ramco Banking Analytics empowers bank executives to analyse the performance of their bank with respect to their sphere of control. The complete data pertaining to a bank is organized in the form of dimensions and measures, and meticulously classified by functional subject areas. The solution covers the complete range of functional areas under retail and corporate banking, viz: Loans, Deposits, Trade Finance, Financial Profitability, Customer, Treasury, etc.
- Prebuilt and available data model to serve as the Data mart for Analytics
- Comprehensive UDB can help the end user drill through from aggregated report metric to fine granular data (up to account level).
- Shrink wrapped with a full functionality BI platform, employing an industry ETL tool to provide the reliability and control in the data integration process.
Efficient loan management
Know your prospects. Convert into customers. Monitor the credit given.
How well you know your customers directly affects how fast you grow. By using Ramco’s integrated solution for BFSI, you can rest assured that all relevant information about your customers is captured. By deploying Ramco Loan Origination system, you will not only be able to manage your business with ease but also closely monitor the customers to whom the loan is to be provided, from lead generation till booking, and also continuous risk rating.
- Exercise due diligence for pre-closing. Use in-built features for ordering and review of searches, appraisals and title policies
- Use dynamic rule configuration for better decision-making
- Speed up operations with offline application processing capability
- Reduce risks with credit evaluation and structuring, including interface with external agencies for credit scoring.
Greater customer base
Increase your customer base exponentially. Increase profitability. Reduce turnaround time.
To get, and retain more and more customers, you need to improve every single business process and not merely customer engagements alone. Ramco’s ERP on Demand provides a seamlessly integrated system that helps you do just that. Plus, with Ramco’s Cash Management module, you can manage the processing of bulk payment and collection transactions, and collect charges without hassles. So, more the merrier!
- Manage payments in the form of Demand Draft, Clearing, RTGS, ECS, NECS, CTS
- Process high volume transactions with ease without manual intervention and errors
- Improve all processes with an automated and highly-integrated system
- Maintenance charges at various levels, with automatic calculation.
Streamlined payment realization
Late payment realization means late income realization. Keep a track of every penny.
Every business transaction needs to be tracked, monitored and optimized—because every penny is valuable. With Ramco’s solution, you can manage on-time realization of payments.
- Enable effective dues processing, payment instruction, and receipts
- Improves processes with a highly automated platform
- Process payments and reconciliation, and improve reporting with a streamlined work flow.
Reconciliation across multiple systems
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.
- Configure rules for better record matching
- Replace several reconciliation systems with one generic system
- Manage multiple currencies.
- Process and reconcile over 20000 records within a minute.
Automated banking documentation
Optimize and automate documentation. Comply with regulations. Avoid loss of valuable information.
Systematic recording and automatic generation of various banking documents not only helps you comply with various regulations, but also provides real-time information to multiple business processes. It can also be helpful in planning, as well as in dealing with any litigation in the future.
- Ensure prompt generation of banking documents such as letter of guarantee, application forms, customer security details etc.
- Benefit from e-documents (with download and upload facility) for faster transmission of information and data.
Centralized and optimized expenses
Avoid revenue leakage. Exercise greater control over expenses.
Managing expenses is a very critical activity and usually involves tremendous paper-based transactions. Ramco’s Centralized Expense Management module helps you track requests and payments from branches in a centralized accounts-payable hub. This is seamlessly integrated with the core banking solution. This system will help you in effective decision-making and implementing a higher degree of control.
- Make better decisions real-time information, thanks to centralization
- Easily calculate tax for payments, in accordance with the tax rates in vogue
- Provision for outstanding expenses and prepaid expenses.
Enhanced customer satisfaction
Automate statement delivery. Reduce TAT. Make customers happy.
Confidentiality and timeliness of statements are imperative. You require an application to ease the entire process in an efficient and cost-effective manner. With Ramco’s Centralized Statement Delivery system, you can automate the delivery of customer statements or any business documents with enhanced security. Both the delivered and undelivered mail statements are tracked and reports are generated from the system.
- Set up master documents in a flexible manner, with reduced turnaround time
- Fully automate the process of statement delivery, avoiding manual intervention
- Generate and dispatch huge volumes of statements in a short time span.