BRSANALYTICS addresses the regulatory reporting requirements of financial institutions by systematically gathering the required data for statistical and supervisory reports with minimal manual intervention.
The standard engine has been developed and refined over several years. This application can be deployed in any financial institution no matter where it is located and bespoke regulatory reporting packages are developed to address the specific requirements of various regulators.
The increased focus on regulatory reporting by many of the world’s banking regulators has increased pressure on financial institutions to provide timely statistical data to ensure compliance. Ultimately, regulation subjects institutions to certain standards, including reporting requirements, restrictions and guidelines with the intent of maintaining standardised practices across these industries. The need for these regulations finds its root in the interconnectedness of banking and credit institutions and the reliance that national and global economies have on these institutions.
While each National Central Bank (NCB) has different reporting requirements, all involve the common challenge of compiling the data. BRSANALYTICS addresses this often manual, lengthy and time-consuming process. BRSANALYTICS brings in data from all the bank’s legacy systems and other data sources and consolidates it so that it automatically produces the data in the format required by the regulator (such as excel sheets and XBRL). More importantly, BRSANALYTICS gives a breakdown of the computed figures thus enabling the analysis of trends and patterns in customer behaviour, areas of growth and profitability, risk management reporting and strengthening competitive advantage amongst others.