Steer into the future of Treasury Reporting

A bank’s treasury department runs multiple systems to support different asset classes. Various reports are needed for compliance, monitoring risks, reconciliation, and other critical needs. However, these processes are fraught with manual intervention and the potential for errors. The TR3 framework solves these challenges and more.

THE CHALLENGES OF TREASURY REPORTING

The treasury divisions of banks and financial organizations have various reporting needs. To meet these needs, reports are generated from various systems and consolidated. Most of the banks use Excel macros and functions for this activity, which are inefficient and make financial institutions vulnerable to manual errors.

The business functions that a treasury department performs are consolidating data from multiple applications, risk monitoring, reconciliation, and reporting of MIS and regulatory reports.

Excel macros and functions are subject to tasks such as consolidation of data, manual refinements, application of filters, aggregation, summarization and report generation. Unfortunately, all these tasks and processes require manual intervention, which can result in:

• Slow delivery of reports
• Human errors
• Data integrity issues
• Significant manpower hours

A BETTER FRAMEWORK FOR TREASURY REPORTING

Seeing the crucial need for a better way to accomplish treasury department reporting for banks and other financial institution, Quinnox developed a TR3 framework solution that consolidates data from various treasury systems to achieve a more automated, efficient, and accurate reporting function.

The overall goal was to create a framework that would provide banks with a structured solution that streamlines data collation and report generation, offering valuable benefits such as:

• Faster output leading to expedited business decisions.
• Scalability, in terms of volumes and data.
• Minimal manual operations required in case of re-runs upon failures.
• Self-service reporting.
• History for analytics.
• Increased productivity due to reduced human resource requirements.

FRAMEWORK HIGHLIGHTS

The TR3 framework has innovative features that allow banks and financial institutions to meet reporting and other related requirements. These features and tools include:

• Pre-defined templates to capture data from various source systems.
• Self-service reporting platform – allows users to create and amend reports for their ever-changing needs.
• Mapping of data from templates to the data models.
• Pre-defined reports and dashboards.
• Data models for the ODS and the data mart.

PUTTING IT INTO ACTION

While TR3 is still in its development stages, the Quinnox team was able to help a major bank build a solution for risk reporting. In addition, another major bank engaged us in a study for a trade repository, while also building a similar solution for another financial institution. Finally, a database outside of Calypso was developed for downstream reporting for another global financial institution.

These initial engagements and projects lead us to believe in the demand, viability, and promise of the TR3 framework for many organizations worldwide.

STREAMLINING THE FUTURE OF TREASURY REPORTING

As the compliance and other reporting requirements of banks and other financial institutions around the world become more and more complex, with increasing stakes and negative ramifications for errors and other issues becoming enormous challenges, an innovative solution such as the TR3 framework has a promising future.

The Quinnox TR3 framework looks to be an innovative solution that, once a higher level of maturity in development is reached, will surely be a competitive solution for the critical reporting needs of a banks’ treasury function.

About The Authors

Arif Khan is the Director, Financial Services, in Quinnox Consultancy Services Ltd, Mumbai, responsible for offshore delivery of all Capital Market accounts within Quinnox. He is passionate about the conceptualization of innovative services and products, and liaising with sales to take these to market. Arif has an experience of 20+ years in the industry and has been with Quinnox for 13+ years. He has worked as a consultant to Fortune 500 clients in the area of technology and FS domain.

Prashant Jadhav is the Senior Consulting Manager in Quinnox Consultancy Services Ltd, Mumbai. He is an SME on Capital Markets and provides consulting across projects within Quinnox. Prashant has been instrumental in developing a strong training organization in the Financial Services that has seen 100+ professionals being trained and successfully deployed across multiple client accounts.

Prashant, a banker by profession has an overall experience of 21+ years in the industry and has been with Quinnox for 9+ years. Before joining Quinnox, he worked with an IT products organization, implementing core banking and related applications across branches.