Business insight jumps out of data, when data is presented in a visually engaging format, with the ability to dynamically analyze it. Tools that deliver such insights quickly essentially help us leverage every piece of our data asset, in a much shorter timeframe. Everything that we are able to do with this data therefore, is more impactful. And, if we can enable this process without huge manual effort, massive upfront costs, painful configuration, setup, and maintenance, more people will arrive at better insights sooner. Banking Regulatory Reports and Integrated MIS (BRIMS) is a tool that provides a bank’s business users the capability to draw meaningful insight from data for decision making, besides automatically generating reports in various formats (XBRL, xls, pdf) for regulatory reporting. BRIMS is an integrated and scalable reporting solution offering a comprehensive single window to support all the internal and external reporting needs of a bank.
Regulatory Compliance Reporting
IRIS’ iDEAL is the Regulatory Compliance Reporting engine of BRIMS. iDEAL is a data transformation tool that picks business reporting data for regulatory submission from an organization’s centralized data repository and automatically transforms it to XBRL format as per the defined taxonomies by the Regulator. The transformation is done on the basis of a one-time mapping of source to the taxonomy elements. Reporting entities which have high frequency and high volume of data reporting need automated solutions. Key Features:
- One-time mapping: iDEAL requires only a one-time mapping to be defined as a part of the application configuration for each return. For all successive filings of that return, the data can be directly generated using previous mappings.
- Built-in validator: Ensures ultimate reliability and accuracy of data thereby helping institutions to meet strict regulator reporting criteria.
- Scheduled reporting: Generates reports automatically in a scheduled manner per the regulatory filing calendar.
Management Reporting, Dashboards and dynamic analysis
The business analytics engine of BRIMS runs on Zeyga. Zeyga is at the intersection of data science and information visualization/exploration. Zeyga provides slick visualization and dynamic dashboards that can be developed in Minutes.
- Create preconfigured reports: Comes with nearly 100 reports that cover the gamut of MIS that a bank would need. Most of these reports are delivered into the individual mailbox at the start of the day.
- Analyze data: Allows users to build and save views based on measures and dimensions selected. Allows a variety of operations such as mathematical computation, drill-down, slicing of data etc. to gain deeper insight.
- Define roles and authentication: Single user sign on system that helps users create user roles and assign role-based access to views and dashboards.
BRIMS Data Integration platform
BRIMS’ underlying data infrastructure rests on Robust Design’s CUBOT, a robust, lightweight and versatile data integration platform. The back-end data integrator is scalable, and handles very large volumes of data which can be integrated with any front-end business analytics tool. CUBOT is an industry-strength product that accesses data from disparate systems – excel spreadsheets to main frame systems to RDBMS to applications such as SAP, Oracle Apps, Salesforce, Quantis.
BRIMS value proposition to a co-operative bank.
- Reduced compliance burden: Ready pre-configured reports for statutory and MIS reporting thereby increasing efficiencies.
- Greater visibility and insights: Ability to dynamically analyze and build custom reports/dashboards.
- View on multiple devices (PCs and Handheld).
- Cloud-based, zero client footprint, zero capital investments.
- Quick onboarding.
- Simple, intuitive and easy to use.