Neoflex Company the has automatized calculation of reserves in Cetelem Bank
While the calculation of reserves is getting ready, the data on credit treaties is uploaded in the Neoflex Reporting detailed layer, then is transferred to the “Reserves calculation” module, upon which the formed entries are transmitted to the ABS. In addition to the automatic mode the module can start up independently each stage of reserves calculation, so that a business-user is able to make the step-by-step download, classification, calculation of entries and generate a report. The user may start the calculation, including of the selected portfolios, set portfolios and rules and form a report on the calculations once the reserves calculation is finished.
Vladimir Filichev, Chief Accountant of Cetelem Bank comments the project results: “In view of the necessity of optimization of the reserves calculation time and the projected growth of the Bank’s portfolio, the Bank has decided to opt for the “Reserves calculation” module which represents a part of the Neoflex Reporting system as the best solution of the reserves calculation task. Upon the results of the project we highly estimate the professional skills of the Neoflex project group and the implemented solution”.
“The Neoflex solution has totally met the needs of Cetelem Bank in reserves calculation. The module has allowed the several times reducing of the calculation time and will enable the Bank to swiftly manage the algorithms of the distribution of treaties to portfolios”, - Anton Sparinapti, Director of Business Development in Neoflex Company summarizes the results of the project.
The “Reserves calculation” module had been implemented in Cetelem Bank in the course of five months. In the end the client has acquired a highly productive solution which calculates the reserves of 600,000 treaties distributed at 100 portfolios within less than 40 minutes.