RegTech pioneer Fintellix has announced its partnership with NCS to deliver MAS Reporting Solution in Singapore. The alliance brings together the Data Processing Platform and Regulatory Reporting Solutions of Fintellix and the vast experience of system integration, infrastructure management and support services by NCS.
The regulatory reporting landscape has seen major overhauling and consequently, banks have been attempting to find the right solutions to adapt to the new changes promptly, efficiently and with lower TCO. The traditional ‘one problem, one solution’ approach has already seen banks stretched for time, effort & cost; the need of the hour is to adopt a ‘one platform, multiple solutions’ approach which ensures that a robust data infrastructure is put in place that can help meet changing requirements in a faster & efficient manner as well as solve multiple reporting requirements, both current & future, local & global. Further, expectations of the regulatory reporting users have increased to cover requirements such as data enrichment, report generation & submission workflow, drill down, etc.
MAS 610 being overhauled gives banks an opportunity to re-evaluate their regulatory technology investments and put in place a scalable platform with a reliable technology partner. Fintellix’s technology and NCS service delivery capabilities will ensure continuous business value for the customers.
“I believe this is a win-win proposition: banks will benefit enormously from the best RegTech platform in the world and serviced by the leading system integrator in Singapore” said Shailendra Mruthyunjayappa, Global Head - Enterprise Business, Fintellix.
“The changes in the regulatory and compliance policy have been accelerating tremendously locally and globally, NCS partnering with Fintellix is the best way forward to offer our customers a flexible and agile reporting technology platform to address the rapid changes with a service assurance to the business” said Raymond Chee, Sales Director, FSI
Headquartered in Bangalore, India with presence in Asia Pacific, South Africa, the Middle East and Europe, Fintellix is pioneering Next Generation Data Management techniques in Banking. This is enabling Agility in Risk and Regulatory Reporting Practices in Enterprise banks & Lowered Cost of Compliance as well as jumpstarting analytics capabilities in smaller/regional banks. Fintellix currently has over 35 progressive financial services institutions across 11 nations as its customers. Fintellix is funded by venture capital majors Sequoia Capital and IDG Ventures to accelerate market expansion and boost product innovation efforts.
For more information on Fintellix, visit www.fintellix.com
NCS is a leading infocommunications technology (ICT) service provider with over 8,000 staff serving governments and large global commercial enterprises. NCS delivers end-to-end ICT and communications engineering solutions to help governments and enterprises realise business value through the innovative use of technology. Our unique delivery capabilities range across consulting, development, systems integration, outsourcing, and infrastructure management and solutions, as well as in areas such as mobility, social media, portal management and business intelligence.
Headquartered in Singapore, NCS is a wholly-owned subsidiary of the Singtel Group. Together with Singtel, we have a presence in 22 countries located throughout APAC, Europe and the USA.
For more information on NCS, visit www.ncs.com.sg