iCreate launches Biz$core Centrum for UAE Central Bank reporting

27/02/2013 11:53 AST

iCreate Software has launched a pre-built solution for UAE Central Bank reporting called Biz$core Centrum. In November 2012, the Central Bank of the UAE in November 2012 introduced a new online Banking Return Formats (BRF) reporting system requiring banks to completely automate their returns / submissions and 39 forms were identified to be automated by 31 March 2013.

Biz$core Centrum for UAE Central Bank Reporting adopts a straight-through processing of information aiming to ensure quality and timeliness of data with zero manual intervention. Straight-through processing requires automation of data flow from multiple banking systems directly into a Centralised Data Repository and then into the Central Bank Banking Return Formats (BRF), without any manual intervention so as to ensure data accuracy, integrity and timely submission of returns. Biz$core Centrum also has the capability to go beyond the current Central Bank requirements and has the capability to leave behind an enterprise-class banking Data Warehouse for performing Business Intelligence and Analytics.

iCreate's Global Head of Business Development Mr Amit Agarwal said, "I am very excited about this opportunity to help banks in the UAE comply with the requirements of the Central Bank of the UAE. Given that Biz$core is a solution from a market leader who helped meet central bank regulatory deadlines in India, I am delighted that we are now bringing our experiential best practices to the UAE. I am confident of Biz$core's capability in helping UAE bank's achieve reporting compliance quickly."

CPI Financial