Banks are required to submit returns to RBI according to regulatory requirements set within preset time periods. Banks need to be able to build systems and processes that can automatically extract data from the source systems/platform, create CDR/Data mart in a bank specific ecosystem so as to manage metadata in the centralized data repository, generate returns automatically, and standardise reports in forms which are universally acceptable such as XML and XBRL.
According to the most recent announcement of the CIMS, banks should use a reliable ADF system to generate XBRL files for returns required by that system and adopt SFMS' existing infrastructure in order to carry out returns submission automatically. To make sure that various reports are generated and submitted without any errors in prescribed format and frequencies, a reliable ADF reporting system needs to be integrated by banks.
ADF / CIMS reporting system combines several key components like data acquisition, data processing, and reporting.
Features and procedures involved in ADF Reporting:
Data Acquisition & Integration: The foundation of ADF / CIMS reporting lies in its ability to extract data from various banking systems automatically. This includes core banking systems (CBS), cash management, cards, digital wallets, treasury, and credit systems. The system can also pull data from centralized data warehouses.
For this, ADF Reporting employs multiple connection methods:
Furthermore, the system offers workflow screens for manual data input and thus handling exceptions or data that is not available in automated systems. This is a very important feature. Upload of data files taking on a workflow means security is ensured and additional data can be accommodated.
When data is acquired, it involves a series of transformations to be in line with RBI reporting requirements:
The central data repository of ADF / CIMS reporting complies with the requirements of the RBI. It consists of:
This component generates actual RBI reports. The software includes features that:
ADF Reporting offers various types of output format according to RBI requirements, including XBRL, XML, PDF, Excel files, Word documents, etc. It keeps a complete inventory of all reports submitted with version control, so that one can easily trace the history of a certain report. It also saves past outputs and reports generated for later use or reference in the future.
Security is a critical aspect of ADF/ CIMS Reporting
These are additional features that can be added to enhance ADF / CIMS reporting:
The ADF / CIMS Reporting system effectively reduces the manual labour required in regulatory reporting, while greatly improving accuracy and punctuality. By automating the production of reports, it ensures that there are fewer errors made by human beings and that all reports maintain a uniform standard. Its system is also flexible enough to handle new regulatory requirements and the reorganisation of the banking industry.
In addition to the centralized data repository, audit trails provide a single source of truth for regulatory data. In other words, it makes easier for auditors to examine regulatory matters. The role-based access control and security features protect sensitive financial data while allowing only those with permission for report generation and submission access to see it.
As a whole, ADF / CIMS reporting not only solves the problem of how much time banks and financial institutions spend on meeting their regulatory obligations, but also provides a comprehensive way in itself for RBI reporting.
Nelito Systems’ ADF / CIMS reporting solution provides an end-to-end automated enterprise reporting to perform independently in a holistic way for timely regulatory reporting. Visit Nelito System to learn more about ADF / CIMS solution.
For more information, contact marketing@nelito.com or visit our website.
Comments :
Email Contact: Lordmeduzatemple@hotmail.com
WhatsApp Contact: +1 807 907 2687.
My husband left me for another woman 1 year ago and ever since then my life has been filled with pain, sorrow and heart break because he was my first love whom I have spent my entire life with. A friend of mine told me he saw some testimonies of a spell caster called Dr Gerald that he can bring back lover within few hours, i laugh it out and said am not interested but because of the love my friend had for me, she consulted the great spell caster on my behalf and to my greatest surprise after 11 hours my husband called me for the very first time after 1 year that he is missing me and that he is so sorry for everything he made me went through. He is back to me and now we are happy together. I still can't believe it, because it is highly unbelievable. Thank you Dr Gerald for bringing back my husband and also to my lovely friend who interceded on my behalf, for anyone who might need the help of this great spell caster here is the email address
psychicspiritualrealm@gmail.com
WhatsApp: +14242983869
Facebook Page: https://facebook.com/Psychicspiritualrealm
My husband left me for another woman 1 year ago and ever since then my life has been filled with pain, sorrow and heart break because he was my first love whom I have spent my entire life with. A friend of mine told me he saw some testimonies of a spell caster called Dr Gerald that he can bring back lover within few hours, i laugh it out and said am not interested but because of the love my friend had for me, she consulted the great spell caster on my behalf and to my greatest surprise after 11 hours my husband called me for the very first time after 1 year that he is missing me and that he is so sorry for everything he made me went through. He is back to me and now we are happy together. I still can't believe it, because it is highly unbelievable. Thank you Dr Gerald for bringing back my husband and also to my lovely friend who interceded on my behalf, for anyone who might need the help of this great spell caster here is the email address
psychicspiritualrealm@gmail.com
WhatsApp: +14242983869
Facebook Page: https://facebook.com/Psychicspiritualrealm
I am sure. Not everyone has heard about THE HACK ANGELS RECOVERY EXPERT. I recently lost over 870,000 in this cryptocurrency scam after being assured that I would receive a substantial return on my investment within a few days. All of this happened so quickly that I was in shock. My husband almost left me and I was going to lose everything until I came across THE HACK ANGELS RECOVERY EXPERT online who are experts in recovering cryptocurrency funds from these scammers. Less a day of consultation, they were able to retrieve all of my money. I'm very grateful to these guys for saving me from becoming a victim. If you have ever fallen victim to a bitcoin or cryptocurrency fraud, I strongly suggest using THE HACK ANGELS RECOVERY EXPERT to assist you get your money back.
WhatsApp +1(520)200-2320 or shoot them an Email at support@thehackangels.com They also have a great Website at www.thehackangels.com