Governments across the globe give prime importance to keeping their banking systems updated. This has proved to be an important and difficult task, more so after the submission and amount of data needed by regulators with aggressive personnel and rules to evaluate a bank's operations and its overall health history.
This process continues to put added pressure on banks and financial institutions to meet and process the data needed information needed and the high costs involved in determining next steps and the costs of those steps.
Rapidly changing regulatory present ever present challenges to banks and financial institutions to ensure that they continue to operate within their limits and should be keenly aware that their operations, procedures and reporting practices will be keenly looked at and evaluated for end of day compliance.
vertiv's role is in adhering to such stringent compliance can be taxing on many small, medium and large banks and corporations and institutions. vertiv can help make the full process take an easier, smoother and faster turn while reducing an organization's costs and placing it on the right track to full compliance.
Rapidly changing regulatory requirements, limitation of organically grown systems and need for cross-functionality warrants a configurable, rule-driven system with extensive auditing support.
Powerful Finance Rule Manager for data transformations, highly optimized process for efficient performance and avoidance of data trucking.
Robust data model to capture contract data.
Real-time drill back from reports to contract level data.
Support for stress testing and what-if analysis.
Reports metadata for major regulators, allowing rule-cell association and giving high auditing control.
Built-in reconciliation engine to find mismatches.
Robust data Integrator to consolidate source data from disparate systems.
Solutions approach that delivers data model and business rules out-of-the-box.
XBRL support and other administrative utilities.