Automatic Submission of Returns Made Easy for Banks
by Admin Kripaa | 1 min read
Last November, Reserve Bank of India released an approach paper on automated data flow (a straight through process) from the core banking solution (CBS) or other IT systems of commercial banks to the Reserve Bank. The approach paper details a methodology to be adopted by banks to ensure seamless flow of data from their transaction server to their management information system (MIS) server and automatically generate all returns from the MIS server, without any manual intervention. The Reserve Bank will also introduce a system for the flow of data from MIS server of banks in a straight through process.
In this regard, Ramco Systems has announced that its Banking Analytics product enables banks to automatically adhere to RBI guideline for submission of returns without any manual intervention.
Ramco Banking Analytics is a plug-and-play Bank Performance Management solution which helps banks to monitor their performance at various levels on near real time basis. It also facilitates a collaborative decision making and is powered by a comprehensive Business Intelligence Platform – Ramco DecisionWorks.