The Data Management Suite (DMS) has been designed specifically for Financial Institutions.
It has been carefully designed and developed to aid Financial Institutions manage Master Data in a single repository and with a simple yet highly flexible User Interface.
Working with Financial Institutions for many years we have identified the various data needs and accompanying automations required and have crafted DMS as a response to these. DMS is the only companion system required by Financial Instituions to work along with their Core Banking / Treasury system.
DMS caters for the storage of all Major Subject Areas within the Financial Institution:
- Party (All Counterparties);
- Accounts (Customer Accounts - Deposits, Loans, Off Balance Sheet, ...)
- Collaterals (and guarantees)
DMS provides storage for the master data attributes related to these Major Entities and allows the Institution to extend these attributes using a plethora of pre-defined fields which meet all Regulatory Requirements. Furthermore, DMS includes an engine to allow Instutions define, manage and add their own "custom" fields for each major entity.
DMS offers a very granular User Access Control and provides a wealth of useful and required features like:
- API Interfaces (typically used with Core Banking, Third Party Data Providers, and AML);
- Flexible Workflow Engine (typically used for Customer On-boarding and Account / Facility Origination);
- AML Risk Scoring Engine (fully supporting the RBA approach);
- Dynamic Alerts and Notifications;
- Designed with GDPR in mind and also offers the required functionality to assist Insitutions comply with the overall GDPR requirements;
- Extensible interface allowing for the addition of other functionality required by the institution
Party Data Management (typically known as KYC) is at the core of DMS. Data Gathering and Management is the Primary focus of the application system. We realise however, that modern Institutions needed a solution that would do more than just Data Management. Driven by KYC data, we have included within DMS:
DMS offers a 360 degree view of the customer as it includes all required fields such as:
- Customer Screening (AML - Name Filtering);
- Customer Onboarding;
- Management of Client Accounts and Provident Funds;
- Credit and AML Rating;
- Alerts / Notifications (raised on occurrence of any event defined by the Institution)
- Static / general information;
- Multiple Identification documents;
- Multiple Addresses;
- Complete Employment Records (including history);
- Financial Details (Turnover / Source of Wealth / Remittances);
- Relations (between Parties and with the Institution);
- AML & Credit data;
- Complete support for Legal Entities including all shareholders, directors and UBOs etc.
What is unique to DMS,however, is that Party information is linked with Accounts, Limits and Collaterals providing a truly comprehensive view of the customer.
DMS acts as a Master Data Management System that may be used to support an EDW initiative and also offers compliance with regulations such as KYC, AML, FATCA / CRS , AnaCredit & Central Credit Register and GDPR.
DMS Accounts provides a canvas to store all Customer Accounts so that they may be linked with the Parties and Collaterals.
The Data Attributes typically found in Core Banking Applications are extended through DMS Accounts to include a variety of additional attributes required for Regulatory Compliance and/or internal needs of the Institution.
Using DMS allows the Insitution to have a leaner Core Banking application and move the various "customizations" on ever-changing data attributes mandatory for Compliance to a system designed to do exactly that.
enhances the Collateral module typically found in a Core Banking Application by providing for a purpose designed system to maintain all the Data Attributes required for Collaterals for internal and external (Regulatory Compliance / Reporting) purposes.
Some of the enhancements included are:
- A granular segmentation of Collaterals as may be required for various reporting needs may be defined
- Detailed Location information may be maintained for Real Estate Collaterals;
- Valuation (including complete history) details;
- Multiple Party Relations (e.g. Collateral Owner(s) vs Actual Facility Owner)
- Third Party Priority Claims;
- Alerts / Notifications
Through it flexible and highly customized interface DMS allows for the development and seemless integration of a number of processes. This provides the Institution with a single Data System that can cater and automate a number of departmental and/or enterprise data needs and workflows.
Some of the automations deployed within DMS during the past include but are not limited to:
- Loan / Account Origination;
- Legal Cases Management;
- Audit Confirmation Requests;
- Retail Credit Risk Scoring