Dhanlaxmi Bank Selects iCreate's Biz$core ADF Solution To Automate RBI Reporting

Mumbai, India - 2 August 2011

Dhanlaxmi Bank today announced the selection of iCreate’s Biz$core Automated Data Flow (ADF) Solution as a key component of their Regulatory Reporting / Compliance strategy.

Dhanlaxmi Bank made this choice after evaluating several prominent vendors for an enterprise-class ADF solution that would not only automate the bank’s regulatory reporting in line with RBI’s guidelines, but also ensure data accuracy and integrity. Dhanlaxmi Bank sought a solution that would dovetail seamlessly with their core banking and other transactional systems and enable a straight through processing of the returns from the bank’s systems. Moreover, the solution had to be designed for quick implementation with a low TCO.

Speaking on the occasion, Mr. Muralidharan R, COO, Dhanlaxmi Bank said, “Dhanlaxmi Bank had commenced automation of the Reports some time ago and was keen to harness the data organizing and classification capability that comes with the automation, for analytical purposes as well. Added to that was the time-sensitivity of the RBI ADF implementation. We were exploring a quick-to-implement productized solution that would quickly enable us to embark on our ADF compliance initiative. Given its relevant banking content and the understanding of the subject, iCreate’s Biz$core ADF was a natural choice. I expect Dhanlaxmi Bank to leverage Biz$core ADF to its fullest potential”.

Mr. Vivek Subramanyam, CEO, iCreate said, “We are honoured to partner with a progressive bank like Dhanlaxmi Bank on their RBI ADF initiative with our product Biz$core. We look forward to helping Dhanlaxmi Bank meet its larger Information Management & Decision Support needs leveraging various solutions from the Biz$core suite as this relationship evolves”.

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