HDFC Bank to use iCreate's Biz$core Automated Data Flow Solution for RBI Reporting

Pre-built, Comprehensive RBI ADF Regulatory Reporting/Compliance Solution To Enable Straight-Through Processing

Online PR News – 18-September-2011 – – iCreate today announced that HDFC Bank has selected its Biz$core Automated Data Flow (ADF) Solution as a key component of the bank’s Regulatory Compliance strategy.

HDFC Bank sought a ready-to-deploy solution to help address RBI’s recent ADF compliance directive by enabling a straight-through processing of data directly from the bank to RBI. The solution has to integrate seamlessly with the bank’s core banking and other transactional systems and enable a straight-through processing of the returns from the bank’s systems. The solution has to be designed for quick implementation with a low TCO as well. After evaluating several prominent vendors for an enterprise-class RBI ADF solution, HDFC Bank chose iCreate’s Biz$core ADF.

Given the evolving demands of the regulatory landscape, it was imperative for HDFC Bank to have a strategic technology solution that had the maturity to play a central role in their compliance strategy, apart from the tactical capability to address current as well as future compliance mandates.

Speaking on the occasion, Mr. Vivek Subramanyam, CEO, iCreate said, “It is a matter of pride for us to partner with a banking leader on their RBI ADF initiative. HDFC Bank concluded their search for an ideal RBI ADF solution with iCreate’s Biz$core, primarily because it was by far the most comprehensive regulatory compliance solution. What made this a winning proposition was the fact that Biz$core was a productized solution built by banking technologists which ensured quick deployment and with low TCO. We are confident that Biz$core will play a key role in transforming HDFC Bank’s regulatory reporting system.”

About iCreate and Biz$core
iCreate is a 'BI for Banking' specialist headquartered in Bangalore, India, with an established presence in Africa, Asia-Pacific, Middle East and Europe. Biz$core is iCreate's unique, integrated BI, Analytics and Performance Management solution, that integrates with standard banking systems ensure banks have a fully functional BI solution running in as little as 100 days, at the lowest TCO and with advanced solutions in areas such as Retail, Corporate Banking, Analytics 360, etc. iCreate is a winner of several premier industry recognitions: including the Red Herring Asia 100, Deloitte Technology Fast 500 Asia and the NASSCOM Emerge 50; an endorsement of its unique ‘Banking-specific Business Intelligence’ proposition. | |