CHENNAI: Ramco Systems, a software company focussed on consulting, products and managed services, has announced that its Banking Analytics product enables banks to automatically adhere to the RBI guideline for submission of returns without any manual Intervention.
Reserve Bank of India had recently released an approach paper on Automated Data Flow from various transactional systems of the banks to RBI. By adopting an automated process for submission of returns, the banks would be able to submit accurate and timely data without any manual intervention. This process would also enable the banks to improve upon their MIS and Decision Support Systems (DSS), etc. From the RBI standpoint, this will ensure uniformity in returns submission.
Speaking on this, Mr. Kamesh Ramamoorthy, Chief Operating Officer, Ramco Systems says, "The recent announcement from RBI on Automated Dataflow has triggered the need among banks for a solution that will quickly help them to adhere to the RBI guideline. With the launch of Ramco Banking Analytics' ADF solution, banks will be able to generate all reports as per RBI guidelines automatically. Our ADF solution can be deployed on any database management system and can go live within weeks."