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Financial Institutions today are largely reliant on data integration for their Operation, Risk, and Regulatory reporting. It is a daunting task that demands accuracy at every stage, starting from extracting data from a data hub or direct from source system to transform it into a meaningful format to load into reporting and Business Intelligence Solutions. Composed compilation of the collected data is essential for Financial Institution’s business division to strategize for risk mitigation, new product launch and to take informed business decisions. RM Applications (RMA), a FinTech and technical partner for the banking and finance industry, has attained efficiency in data integration with its Risk Data Mart Solution. Equipped with profound business and technology knowledge pertaining to the banking industry, the company has built specialised mini risk data mart for Asset Liability Management (ALM), Risk Management and Basel II and III Liquidity solutions for Conventional and Islamic Financial Institutions in South East Asia. Data Mart ensures flexibility and consistency of regulatory rules, data compilation, and data integrity before banks or financial institutions employ any liquidity, capital, and reporting value calculations. RMA applies several validation techniques and real-time check mechanism, to ensure validity and rigidity of the data compiled. RMA has proven track record of implementing Data Mart Solution in Malaysia, Singapore, Brunei, Indonesia, and Thailand.
While talking about RMA’s effective Data Mart solution (OmniData), Lokesh Gupta, the Co-founder/Head, Business and Technology Consulting of the company says, “The solution delivered to our clients have been integrated with the bank’s legacy hosts i.e. multiple data sources (core banking, treasury, loans, credit card, trade finance etc. running on different platforms). We put effort in addressing synchronization of inconsistent data formats from multiple sources, deriving of missing data values using business logics or populating direct values using excel based interfaces, ensuring data quality with predefined logic to filter garbage data as exceptions and standardization and most important is data retention.”
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With deployment of its intensive solutions – OmniRemit Suite – RMA adds value to its clients’ businesses
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