BCT Digital launches cloud-ready ‘rt360 Credit Risk Suite’ - rt360
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 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 is an award-winning global digital transformation company delivering disruptive Fintech, RegTech, and Cleantech solutions to large organisations across diverse industry verticals. The company empowers industries to predict, manage and mitigate risks and make effective risk-resilient decisions leveraging next-gen technologies and sophisticated AI/ML models, data-driven algorithms, and predictive analytics. Ranked among the top 100 global companies by Chartis Research, BCT Digital helps banks, financial institutions, large enterprises, and public organisations optimize core processes and niche digital services, to maximize growth and profitability.
BCT Digital is a group company of CMMI L5-certified Bahwan CyberTek (BCT) Group, a global provider of digital transformation solutions in the areas of predictive analytics, digital experience, digital supply chain management and financial risk management in 20+ countries across the Middle East, North America, Far East, Africa, and Asia. The Group drives innovation through outcome-based business models and powerful IP solutions, delivering digital solutions to BFSI, Oil & Gas, Telecom, Power, Government, Retail and SCM / Logistics verticals.
BCT Digital a digital transformation company focuses on delivering FinTech, RegTech, and SustainTech solutions to international banking and financial markets, and key industry sectors, 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 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.
About BCT Digital
BCT Digital focuses on the risk management and regulatory needs of variety of organizations in different industry verticals 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 organizations to mitigate risks, ensure liquidity and improve customer engagement. For more information, visit www.bctdigital.ai