• Regulatory Standards
  • 05.06.2015 01:00 am

Overwhelmingly rapid change has become the new normal in regulatory compliance worldwide, including India. Form, content, format and calculation are being constantly changed by regulators to drive a stable financial ecosystem. Post the 2008 global crisis, regulators across the world have begun switching to Risk-based Supervision (RBS) to ensure banks do not take undue risks to maximise profits and boost performance. Meanwhile the RBI is phasing out its CAMELS-based inspection and is ushering in a new Risk-based Supervision environment to manage the banking system more closely. While the RBI has already communicated its RBS mandate to banks, the big question is - are banks really ready for the RBS regime?

Scheduled to be held at the Four Seasons Hotel on 11 June, Fintellix’s ‘by invitation only’ briefing will have banking leaders sharing insights on how banks can leverage innovation to lay the foundation for future-proofing compliance with RBI. The briefing will demonstrate how existing investments in Automated Data Flow (ADF) can be easily leveraged to address upcoming local and global regulations such as RBS, LCR, FATCA, etc. Sessions will cover topics such as - staying ahead of the compliance curve in a demanding regulatory environment; RBI’s new RBS regime: trials and tribulations of constant compliance; building a future-ready compliance infrastructure and ideas around building a ‘compliance-proof’ bank.

40% of Top 20 Private and Foreign Banks are now using Fintellix for RBI Regulatory Compliance initiatives. With RBI’s ADF mission now having concluded, most banks who have implemented ADF correctly have inherited a CDR (Centralized Data Repository) that should serve multiple MIS and Compliance initiatives. With its investments in CDR and a Metadata-based Platform, Fintellix has been able to deliver the compelling benefits of reuse for meeting newer Compliance requirements, such as NPA / EWS, Risk-based Supervision (RBS) and Liquidity Credit Ratio (LCR) without further investments, by leveraging the same CDR.

Incidentally Fintellix is the only banking regulations specialist providing solutions for all of RBI’s requirements such as NPA, RBS and LCR, as per RBI’s ADF vision, on a single platform and CDR. Fintellix provides banks with the assurance of reliable and comprehensive Compliance with current and future regulator demands. Also, owing to the pioneering vision of RBI’s Automated Data Flow, banks by virtue of implementing ADF are now automatically compliant with the new BCBS 239 regulation.

The Fintellix Compliance Suite is powered by Fintellix’s next generation Data platform that is a singular, integrated and scalable Banking Data Management infrastructure which plugs into the Bank's internal and external data sources via pre-built ‘adapters’ and provisions raw Banking data for a variety of downstream uses such as Regulatory Reporting, Risk Management and Business Analytics. Fintellix also provides a Cloud option for banks as a SaaS-based utility model for advanced Banking Compliance, Risk and Analytics. Fintellix on Cloud is a secure and comprehensive option for scalability, responsiveness and cost-efficiencies. Fintellix's Compliance solutions are available for on-premises implementations as well as provisioning from a Regional Cloud Infrastructure.

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