BCT Digital launches cloud-ready ‘rt360 Credit Risk Suite’

Enabling Banks, NBFCs, and HFCs to achieve compliance in 90 days with savings of $100 M to $500 M per year

Chennai, 25 May 2021: BCT Digital, a global Fintech company specializing in regulatory technologies announces the launch of its specialized Cloud-Ready rt360 Credit Risk Suite. BCT Digital’s risk management product suite ‘rt360’ recently won the ‘Rising Star Award’, presented by Chartis Research – a leading provider of research and analysis on the global market for risk technology. The full-stack credit risk suite includes origination & on-boarding, credit monitoring, fraud monitoring, credit analytics, and other value-added services – all on the cloud. Their award-winning rt360 EWS (Early Warning System) is now an integral component of the cloud-ready credit risk suite. The cloud-ready product can now empower banks, NBFCs, and HFCs to quickly implement the product and immediately gain control over their asset book. The product is equipped to handle millions of data points through sophisticated AI/ML-based predictive models to detect patterns and quantify risks.

USPs of the cloud-ready suite

  • AI/ML-driven Rule Engine comprising 170+ pre-built early warning indicators; expandable to include custom requirements
  • Real-time alerts to prevent fraudulent transactions
  • Cloud-ready architecture tuned for on-premise / cloud / hybrid models
  • Horizontal and vertical scalability to meet increasing volumes and user-base.
  • The product handles massive volumes – 100s of branches,1000s of customers, and millions of transactions

While Indian banks reported a decline in bad loans in the last quarter of 2020, the impact of the extended pandemic situation may have major ramifications on the asset quality over the next two to three years. To tackle the situation, financial institutions need to invest in disruptive technologies to enable high asset quality through proactive and accurate risk detection and improve regulatory compliance.

“The severe disruption caused by the pandemic has created an urgency for financial institutions to monitor and take corrective measures on time to mitigate the impact of credit risks. Though public sector banks have preferred an on-premise solution, it is our constant endeavor to construct robust technologically advanced systems that empower not just the large banks but also smaller financial institutions to enhance their risk management capabilities. Cloud readiness will help these banks be compliant with RBI and DFS regulations on credit risk in 90 days. This will help them to mitigate the risk of bad loans and also enable them to reach their financial inclusion goals benefitting the MSMEs and retail segments as well. The cloud-enabled credit risk suite will build a future-ready and resilient organization by preventing possible frauds through real-time data”, said Jaya Vaidhyanathan, CEO, BCT Digital.

The rt360 Credit Risk Suite addresses concerns of risk practitioners in banks and other financial institutions involved in lending/investment decisions relating to building the banking book. It enables lenders and portfolio managers to have tighter control over their asset book at any point in the credit lifecycle, through various business services, such as the rt360 EWS, that are available in a highly modular form.

The cloud-ready rt360 – EWS is designed using state-of-the-art micro-services-based open API architecture, comes with connectors and automated data capturing mechanisms in real-time. These integrate with the internal and external sources to extract millions of data points on customers through means such as APIs / streaming feeds in addition to legacy methods. Sophisticated AI, ML models detect fraud patterns, minimize false positives and quantify risks through effective scoring algorithms that compute critical default statistics. The pre-built and extensible library of early warning indicators include regulator-prescribed indicators such as RBI’s RFA and the Department of Financial Services scenarios for India.

Alerts including those of fund diversion, negative news, and financials are sent to a configurable mobile responsive inbox. Bankers can leverage rt360 EWS’s powerful case management to manage alerts as per the escalation hierarchy for timely corrective action. The cloud-ready rt360 Credit Risk Suite enables financial institutions to focus on profitable credit growth while mitigating risk.

About BCT Digital

BCT Digital focuses on the risk management and regulatory needs of the banking and finance sector (BFSI), on a global scale. The core of BCT Digital’s offerings lies in the ability to identify gaps and building solutions that are both specifically suited to India and yet scalable to the global markets. BCT Digital, a niche player in the RegTech arena, adopts emerging technologies to enable financial institutions to mitigate risks, ensure liquidity and improve customer engagement. For more information, visit www.bctdigital.ai

About Bahwan CyberTek

Bahwan CyberTek (BCT) was established in 1999 and is a provider of digital transformation solutions across industry domains and has delivered solutions in twenty countries across North America, Middle East, Far East, Africa and Asia. Driving innovation through outcome-based business models, proven and powerful IP solutions, BCT is a trusted partner for over 1000+ customers, including Fortune 500 companies. With strong capabilities in Big Data & Analytics, Mobility, Cloud and UX / UI, BCT has over 2800 associates with technical and domain expertise in delivering solutions to Oil & Gas, Telecom, Power, Government, Banking, Retail and SCM / Logistics verticals. With a focus on joint innovation, BCT has partnered with leading global technology organizations such as Oracle, IBM and TIBCO to deliver differentiated value to customers.

Contact:

Chandrakumar Natarajan

BCT Digital

nchandru@bahwancybertek.com

For queries reach out bctdigital@bahwancybertek.com

 

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BCT Digital wins Rising Star Award from Chartis Research

“BCT Digital’s (Bahwan CyberTek) broad coverage of risk-management technologies and industry sectors is reflected in its Rising Star award this year,” said Sid Dash, Research Director at Chartis.

Chennai, 10 December 2020: BCT Digital, Bahwan CyberTek, with its risk management product suite rt360, recently won a ‘Rising Star Award’. The rt360 product suite aims to drive digital transformation for banks and financial institutions by addressing the risk management space, that includes credit risk, capital allocation, pricing risk, liquidity risk, model risk and operational risk. This award was conferred upon by Chartis Research, in its recently published RiskTech100 2021 report. Now in its 15th year, the Chartis RiskTech100 report conducts the most comprehensive study of leading global companies in risk and compliance technology.

BCT Digital, a FinTech specialist in risk management products, has been helping banks and financial institutions through their pioneering product suite – rt360. BCT Digital’s offerings are hinged on its ability to identify the gaps in the banking and finance sector. In recent times, the Indian banking system has been found enmeshed in a complex web, with the alarming increase in the number of bad loans, non-performing assets and credit frauds. It has only worsened in the present-day context with the outbreak of the COVID-19 pandemic. rt360 was developed with a view to reduce NPAs and has rapidly evolved into a product portfolio that addresses all types of risks a bank face. These products rely on disruptive technologies such as Artificial Intelligence (AI), Machine Learning (ML), Predictive Analytics, Data Analytics, to name a few. The products are tailored to address both the niche challenges particular to the Indian context and also the geo specific regulatory compliance. Therefore, the product suite has found its acceptance in the global market place, specifically across the USA and The Middle East.

“Since its inception, BCT Digital has had the primary goal of empowering banks and financial institutions, and through our robust and cutting-edge technology and product ecosystem, enable them to become risk free. The rt360 product suite is a significant innovation towards developing home grown products to support the risk ridden BFSI sector in India. This endeavour, being recognised by a global platform like Chartis is indeed a matter of honour, and it inspires us to do more, do better, and spearhead the journey of India’s banking system into the next generation”, said Jaya Vaidhyanathan, CEO at BCT Digital.

“Every year in our rankings we identify vendors that are developing new ways to approach risk-management challenges such as digital transformation”, said Sid Dash, Research Director at Chartis. “In that context, BCT Digital’s (Bahwan CyberTek) broad coverage of risk-management technologies and industry sectors is reflected in its Rising Star award this year.” Chartis Research is the leading provider of research and analysis on the global market for risk technology.

Click here to read the latest iteration of Chartis Research’s market-leading RiskTech100® report 2021

About BCT Digital

BCT Digital is a FinTech specialist focusing on the risk management and regulatory needs of the banking and finance sector (BFSI), on a global scale. BCT Digital aims to drive digital transformation for banks and FIs through its risk management product suite rt360. The suite addresses risks related to credit risk, capital allocation, pricing risk, liquidity risk, model risk and operational risk. The core of BCT Digital’s offerings lies in the ability to identify gaps and build products that are both specifically suited to India and yet scalable to the global markets. For more information, visit www.bctdigital.ai

Contact:

Chandrakumar Natarajan

BCT Digital

nchandru@bahwancybertek.com

For queries reach out bctdigital@bahwancybertek.com

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BCT Digital launches ‘IND AS 109 Product Suite’ to tackle Expected Credit Loss

Automating the Credit Risk Monitoring Process for effective Credit Loss Management

Chennai, 28 July 2020: BCT Digital, a global Fintech company specializing in BFSI, Predictive Analytics, and Risk Management, has announced the launch of rt360-ECL solution from ‘IND AS 109 Product Suite’ for Expected Credit Loss (ECL) reporting. The rt360-ECL is an integral part of the IND AS 109 Product Suite and has been designed exclusively keeping in mind the unique and specific nuances of Indian Financial Institutions and the Indian Regulatory Environment.

With the introduction of the global International Financial Reporting Standards-9 (IFRS 9) and its equivalent Indian Accounting Standards (IND AS) 109, financial institutions are moving towards adopting scientific methods for computing credit losses. The first set of guidelines in this regard were issued by the RBI in February 2016, which was followed by a series of amendments, and the latest one was issued in March 2020. This amendment announced the implementation of the Indian Accounting Standards, including IND AS 109 for NBFCs and Asset Reconstruction Companies.

IND AS 109 requires financial institutions to take the Expected Credit Loss (ECL) approach as opposed to the Incurred Loss approach. Under the ECL approach, credit losses must be granularly and systematically estimated and provided for throughout the life span of a loan. The rt360-ECL is a business-driven technology solution that enables banks to compute Expected Credit Loss as per regulatory guidelines, while addressing requirements such as Point-In-Time Probability of Default (PD), Validation and forward-looking estimates.

“During these unprecedented times, banks are facing huge credit losses as their customers suffer through the COVID-19 pandemic. Managing credit risk in a volatile financial market is very critical. If not carefully monitored, the systemic risks can easily snowball, and this can impact not only the banking network, but also the financial health of the country at a macroeconomic level. The rt360-ECL is an integral part of BCT Digital’s IND AS 109 product suite and has been exclusively designed keeping in mind the unique nature of the Indian regulatory environment and specific nuances of Indian financial institutions.” said Jaya Vaidhyanathan, CEO at BCT Digital.

The rt360-ECL aggregates banks’ historical data and estimates parameters such as Probability of Default (PD), Loss Given Default (LGD) and Exposure at Default (EAD) and Effective Interest Rate (EIR). It’s inbuilt standard functions support validation and calibration of models to ensure that the process is efficient and robust. It’s essential value additions include automation of credit risk monitoring processes, faster turnaround time to achieve regulatory compliance and internal reporting and proactive credit risk assessment and monitoring. The core features of the rt360-ECL include computing 12 months’ and lifetime ECL for both fund-based and non-fund-based facilities; automated computation of Probability of Default, (Loss Given Default and Exposure at Default); Effective Interest Rate computation; automated validation of parameters as per RBI/Basel requirements through a pre-built library of model validation tests; integration with other solutions, such as core banking/Asset Liability Management systems& and prebuilt dashboards for management reporting. Click here for more information.

BCT Digital being a FinTech specialist and pioneer in risk management solutions aims to empower banks and financial institutions to recognize expected change in credit risk and provide a framework to manage forward-looking credit loss through the rt360 Risk Management Suite. rt360 risk products are a 100% “Made in India”, by BCT Digital, keeping in mind the complexity of internal and external risk factors faced by banks.

About BCT Digital

BCT Digital focusses on the risk management needs, and regulatory needs of the banking and finance sector (BFSI), on a global scale. The core of BCT Digital’s offerings lies in the ability to identify gaps and building solutions that are both specifically suited to India and yet scalable to the global markets. BCT Digital a niche player in the RegTech arena, adopting emerging technologies to mitigate risks, ensure liquidity and improve customer engagement. For more information, visit https://www.bctdigital.ai

About Bahwan CyberTek

Bahwan CyberTek (BCT) was established in 1999 and is a provider of digital transformation solutions across industry domains and has delivered solutions in twenty countries across North America, Middle East, Far East, Africa and Asia. Driving innovation through outcome-based business models, proven and powerful IP solutions, BCT is a trusted partner for over 1000+ customers, including Fortune 500 companies. With strong capabilities in Big Data & Analytics, Mobility, Cloud and UX / UI, BCT has over 2800 associates with technical and domain expertise in delivering solutions to Oil & Gas, Telecom, Power, Government, Banking, Retail and SCM / Logistics verticals. With a focus on joint innovation, BCT has partnered with leading global technology organizations such as Oracle, IBM and TIBCO to deliver differentiated value to customers.

For queries reach out bctdigital@bahwancybertek.com

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BCT Digital launches the first ever ‘Real-Time Early Warning Systems’ to tackle Non-Performing Assets

Simplifying credit monitoring for the BFSI sector to control the rising number of NPAs and financial frauds

Chennai, 02 June 2020: BCT Digital, a global fintech  company specializing in BFSI,Predictive Analytics, and Risk Management, has announced the launch of their specialized ‘Real-Time Early Warning Systems for credit monitoring’ – the first-ever real-time monitoring solution to tackle Non-Performing Assets (NPA). As a FinTech specialist in risk management solutions, BCT Digital has been helping banks and financial institutions through their pioneering product “rt360 – Early Warning System”. The product is currently running in the top public and private sector banks in India and across the globe. “rt360- Real-Time Early Warning System for Credit Monitoring” is their AI-based innovative upgrade to their current EWS product suite. “Real-Time EWS has the potential to detect and prevent suspicious or fraudulent transactions, effectively paving way for a transition from detective to preventive credit risk monitoring’’.

There has been an alarming increase in the number of bad loans, frauds, and non-performing assets in banks in recent times which have resulted in a critical imbroglio in the Indian banking system. The lack of due diligence before and after loan disbursal is the single largest contributing factor to these frauds apart from defaults, economic slowdown, and lax lending practices. With the help of disruptive technologies such as artificial intelligence (AI), machine learning (ML) and streaming, data- lenders will be able to “detect suspicious transactions in loan accounts on a real-time/near real-time basis, which will positively contribute to the overall health of the credit portfolio.

“When we launched the first EWS product way back in 2016, our goal was to make in India – i.e. make it local for the global marketplace. Our EWS implementations have yielded the maximum ROI – for instance even if banks can reduce 1% of the NPA for a bank of asset size of 50 B with an average NPA of 10%, will bring back at least 500 M per bank/per year. Now, with Real-time Early Warning System for credit monitoring banks have the opportunity to prevent bad loans at the disbursement stage itself. We aim to empower every financial institution to be risk-free and provide them with a technologically robust and cutting-edge risk management ecosystem to rely upon. With the current NPA situation in the country and the way the banking industry is changing due to COVID-19, our focus has been on disruptive technologies like – AI, ML, predictive analytics and blockchain, to catapult India into the next generation of banking. Through the real-time EWS, we want to empower banks by helping them make the right decision, stay ahead of the competition, and prevent possible NPAs and banking frauds with the help of real-time data.” said Jaya Vaidhyanathan, CEO at BCT Digital.

Today’s early warning systems are more effective in not just monitoring and detecting red flags, but also putting banks’ interests ahead of individual interests by measuring and monitoring risks, placing banks back in control of their data and decisions. In this current unprecedented situation with the pandemic, real-time monitoring of transactions in the loan portfolio will provide yet potent ammunition for banks to keep the risk profile of the credit portfolio, reeling under the impact of the situation, under check.

A real-time Early Warning Systems works on three core principles – integration with source systems, real-time scanning of transactions, and issuing reverse feedback. EWS will monitor some of the major transaction types on a real-time basis from originating through intra-bank transfers, inward & outward cheque clearing, etc., from the point of initiation to completion. A powerful and configurable rule engine facilitates the system to recognize potential fraudulent or suspicious transactions as and when they get initiated on a real-time basis and warn the bankers, giving them the option to approve or reject the transaction.

BCT Digital’s strength lies in identifying a yet-unsolved business problem and leveraging emerging technologies, such as AI and predictive analytics, to solve it. The company’s mission has been ‘reverse innovation’ – making products in India, for India, and the global market.

Read more on how real-time Early Warning Systems with Credit monitoring and preventive intervention ensures staying sure-footed in the new normal

About BCT Digital

BCT Digital focusses on the risk management needs, and regulatory needs of the banking and finance sector (BFSI), on a global scale. The core of BCT Digital’s offerings lies in the ability to identify gaps and building solutions that are both specifically suited to India and yet scalable to the global markets. BCT Digital a niche player in the RegTech arena, adopting emerging technologies to mitigate risks, ensure liquidity and improve customer engagement. For more information, visit https://www.bctdigital.ai

About Bahwan CyberTek

Bahwan CyberTek (BCT) was established in 1999 and is a provider of digital transformation solutions across industry domains and has delivered solutions in twenty countries across North America, Middle East, Far East, Africa and Asia. Driving innovation through outcome-based business models, proven and powerful IP solutions, BCT is a trusted partner for over 1000+ customers, including Fortune 500 companies. With strong capabilities in Big Data & Analytics, Mobility, Cloud and UX / UI, BCT has over 2800 associates with technical and domain expertise in delivering solutions to Oil & Gas, Telecom, Power, Government, Banking, Retail and SCM / Logistics verticals. With a focus on joint innovation, BCT has partnered with leading global technology organizations such as Oracle, IBM and TIBCO to deliver differentiated value to customers.

Contact:

Chandrakumar  Natarajan
BCT Digital
nchandru@bahwancybertek.com

For queries reach out bctdigital@bahwancybertek.com

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