RaPID© is a software based on a web interface and an Oracle database (XE, SE or EE) covering risk (credit, liquidity, market, interest rate risk), accounting / controlling, regulatory reporting and treasury.
Banks are required to submit a set of standard reports to their supervisors/regulators as part of supervisory review. As such Banks in UAE are required to submit monthly/quarterly standard reports known as Banking Return Forms (BRFs) to their Central Bank (CBUAE).
Given the significant developments of banking and financial industry in the recent past, CBUE has revised its BRFs and released the latest version of BRFs. The new BRF reporting is the comprehensive framework that incorporates the provisions of Basel, IFRS, and Central Bank regulations, liquidity and interbank, economic sectors, country, segments etc.
A robust internal reporting set up supported by a comprehensive reporting tools embedded with a dedicated Risk database is a must for banks to comply with timely and accurate submission of BRFs. Here comes the role of RaPID©, a sophisticated database architecture with powerful reporting tool.
What makes RaPID© distinguishable from its competitors in the market are:
Easy integration with Core banking and other existing applications of the Bank.
Simple metadata mapping framework with user friendly GUIs.
Robust Data Sanctity Checks and reconciliation framework.
Full drill down to the underlying data including cash flows.
Simple interaction GUIs enables slicing and dicing of the reports with drill down facility coupled with capability of multi-dimensional filtering options such as Group level, affiliates or branch level, domestic or global, standalone or consolidated basis etc.
RaPID© allows quick mapping and loading of contract level as well as GL balances from the source systems through integrated ETL.
A reconciliation report allows the comparison of the loaded financial instrument with a reference (usually from the general ledger).
The job control allows automating all relevant process steps.
The administration module defines access rights, roles and main configuration of the system.
Look-up tables enables the users to define data definition, set rules, filtering criteria, computation logics etc., of various BRF reports.
Validation process ensures checks and balances.
For each step there is an audit trail.
When it comes to any reporting tools, the toughest part is data definition and mapping. In general, it is one of the times and resource consuming activities requiring heavy involvement of end-user and IT report developers and most cases it remains a challenge of bridging gaps between end-user and technical personnel.
RaPID© solves this problem with a set of simple and flexible end-users’ options. With this feature, report designing by end-users’ becomes a hassle-free task without much dependency on technical assistance/personnel.
The key features of RaPID© include among other things
Unique BRF data identifies/coding – each and every data fields / group of fields in the BRFs are identified with a unique label to ensure consistency and accuracy of reporting lines and cross validation across various BRFs.
Look up Tables provides an easy and flexible interface where user can quickly set up the data definition, rules for filtering, grouping, categorizing, segmenting, aggregating and dissecting data based on multi-dimensional user defined criteria.
Computation logics & formula builder – RaPID© also provides a facility for user to define some computation logics /formulae to drive the required missing values/ data fields from the source data as according to the user defined criteria/ rules.
User-friendly interface for the reports provides user an effective an instant report generation based on various user defined scenarios and other pre-defined aggregating / filtering criteria – no batch processing / end of day process required.
It also provides easy exporting options in XL format in order to directly upload the data into CBUAE reporting portal.
Checks and Balances – Cross validations of BRF reports
RaPID© provides a robust framework for check and balances for BRF reporting line validations across different reports to ensure consistency and accuracy as required by CBUAE reporiting template.
It provides a comprehensive validation report after checking all the cross validation nodes and rules defined by the end-user.
Below is a print screen of the reporting framework of RaPID© (all data randomly generated).
IN
SG
ES