DCB Bank takes iCreate's Biz$core Centrum RBI Reporting solution

BENGALURU, India - June 6, 2013 - PRLog -- DCB Bank today announced the selection of iCreate’s Biz$core Centrum RBI Automated Data Flow (ADF) Solution as part of the Bank’s Governance Risk and Compliance strategy. DCB Bank required a solution that could help automate and expedite it’s regulatory returns submission in templates prescribed by the regulator.

The solution had to integrate seamlessly with the DCB Bank’s transactional systems to enable accurate & timely submission of returns. The Bank chose iCreate’s Biz$core Centrum ADF given its reporting module containing around 200 RBI prescribed reporting templates running off a Centralized Data Repository (CDR), with the solution also supporting multiple taxonomies and output formats. DCB Bank’s decision follows close on heels of other marquee Indian and Foreign banks selecting iCreate’s Biz$core Centrum ADF.

Speaking on the occasion, Mr. Venkattesh R, Executive Vice President & Head Operations, Technology & Human Resources, DCB Bank said, “The Bank required a pre-built RBI ADF solution that would help accelerate our compliance initiatives and also serve as a backbone to address future regulatory mandates. iCreate’s Biz$core Centrum ADF fulfilled these criteria and I am happy of our selection.”

Mr. Amit Agarwal, iCreate’s Global Sales & Business Development Head remarked, “DCB Bank’s decision further reinforces iCreate’s commitment towards the GRC solution landscape. We are confident that Biz$core Centrum ADF will help address the bank’s ADF compliance requirements and we look forward to our other solutions helping DCB Bank meet their larger Information Management & Decision Support requirements”

Key highlights of iCreate’s Biz$core Centrum Automated Data Flow solution:

·         Pre-built, multi-country templates as per regulator-specified formats

·         Automated flow from banking systems to respective Central Banks

·         Configurable approval workflows to enable bank staff to verify and submit the reports

·         Multiple taxonomies supported; multiple output formats supported

·         Automated mapping / transformation from internal accounting heads and codes into the Central Bank mandated heads and codes

·         Solution delivered off OLAP-ready data mart with pre-configured integration with popular core banking systems

·         Metadata-driven solution with full data lineage from source banking system through to report for easy audit of data flow

·         In-built business definition layer compliant with central bank terminologies

·         Configurable mapping from internal Chart of Accounts to the regulator's specific reporting heads

·         In-built Reference Code management functionality for all regulator recommended reporting codes

·         Dashboards summarizing important metrics across various business functions of the bank for a ‘quick view’

·         Configurable maker-checker process with audit trail within the Automated Data Flow

About DCB Bank:

DCB Bank is a modern emerging new generation private sector bank with 101 branches across 15 States and 2 Union Territories. It is a Scheduled Commercial Bank regulated by the Reserve Bank of India. It is professionally managed and governed. DCB Bank has contemporary technology and infrastructure including state of the art internet banking for personal as well as business banking customers. DCB Bank’s business segments are Retail, micro-SMEs, SMEs, mid-Corporate, Agriculture, Commodities, Government, Public Sector, Indian Banks, Co-operative Banks and Non-Banking Finance Companies (NBFC). DCB Bank has approximately 450,000 customers.

DCB Bank has deep roots in India since its inception in 1930s. Its promoter and promoter group the Aga Khan Fund for Economic Development (AKFED) & Platinum Jubilee Investments Ltd. holds over 19% stake. AKFED is an international development enterprise. It is dedicated to promoting entrepreneurship and building economically sound companies.

For more details, please contact:

Gaurav Mehta, Head Marketing & PR

DCB Bank, Corporate Office, Mumbai

Cell phone +919870432101 or email gauravm@dcbbank.com

About iCreate:

Headquartered in Bangalore, India with offices in Mumbai, South Africa, the Middle East and Europe, iCreate is a global Banking Decision Sciences leader that works with banks worldwide to enable faster, better decision making. iCreate’s enterprise-grade solutions integrate with most Banking systems and provide banks with a functional Decision Enablement System in a fifth of the time as compared to conventional options. iCreate's integrated BI, Analytics and Performance Management solutions seamlessly integrate with standard Banking systems and ensure banks have a fully functional Decision Enablement Solution running in the shortest possible time (as compared to conventional alternatives), at the lowest TCO and with advanced solutions in areas such as Retail Banking, Corporate Banking, Analytics 360, etc. iCreate currently has over 25 progressive financial services institutions across 10 nations as customers. It was recently funded by venture capital majors Sequoia Capital and IDG Ventures to accelerate its market expansion and boost product innovation efforts. iCreate is also a recipient of premier industry recognitions including the Red Herring Asia 100, Deloitte Technology Fast 50 India / Fast 500 AsiaPacific and NASSCOM Emerge 50.