UVenture brings Reporting Automation Solutions for banks and NBFCs
UVenture, a fintech solutions provider, provides top-end solutions for banks using emerging technologies and tools
New Delhi (India), March 3: Financial data reporting without fudging is a key requirement of the Central Bank. Banks use disparate systems for their various needs. For example, banks could have separate loan processing software over and above the Core Banking solution. Bringing in data from these various systems and processing it without manual intervention for reporting is a key challenge. Also, with the changing needs, these systems keep evolving, and so the data keeps changing and hence does the need for data integration and processing for automated reporting. It is an ongoing challenge to automate and do reporting without any manual intervention.
UVenture brings Automated Data Flow technology that helps in overcoming these challenges. Using UVenture's Nova, banks can perform a straight-through reporting process (STP) without manual handling. The software solution is flexible and configurable and can easily integrate and work with extracts from various systems. Business and reporting logic can be written to generate specific reports. The whole process can be configured to run on a schedule enabling complete management and control of data processing. In the event of a change in input data fields, it is easy to adapt due to available configurations.
Easier integration facilitates bringing in data like core banking transaction data, loans, investments, investments, GL balances etc., into a centralized data repository, thus enabling report generation from a single source. A centralized data repository forms the data warehouse for the bank’s MIS. All business, financial and regulatory reports can be created with the extra benefit of knowing the data will be accurate, reliable, and high-quality.
Banks and other financial institutions can reap major benefits that include getting Complete Automation right from data acquisition, cleaning, and processing to report generation, distribution and data auditability.
Now get better insights and comply with regulatory reporting requirements using UVenture's Nova - an Automated Data Flow solution.
For more information, visit: https://uventure.in/automated-reporting-adf/
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