CB reporting in 25 minutes: we can, we know, we do
At the end of November, Neoflex traditionally became a partner of the annual forum of Retail Finance “Mind Games”. This was the 12th time the forum was took place. During the event, Ivan Okopny, Head of Neoflex Reporting, presented a new format of compulsory reporting system preparation using Big Data technology. Using the example of a project implemented for the bank that is among the Top-5, he told the audience how it took the customer only 25 minutes to prepare the regulatory reporting using a new version of
“Over the ten years of Neoflex Reporting, we have completed a great number of projects related to regulatory reporting automation for banks. A few years ago, we thought about how to help our customers solve this problem more effectively. And the solution was found: we found a way to integrate Big Data technologies into this process. Thus, a new version of Neoflex Reporting Big Data Edition compulsory reporting system appeared, which major financial institutions have been successfully using for more than two years. The feedback shows us we made the right choice. Thanks to Big Data technologies we have managed to drastically increase the speed of reporting preparation and make it cheaper. The system also scales easily and gives a chance for in-time adaptation to constantly becoming more complex regulation requirements”, — Ivan Okopny messaged
200 financial sector and IT companies representatives gathered to summarize the outgoing year, analyze the main directions for their own development, unite the efforts of market participants and identify the best IT solutions. Among those were bank management representatives, their deputies, heads of departments of business development, IT, risks, and marketing.