Neoflex automated asset management processes and liabilities in the International investment bank

2020: Automation of an asset management process and liabilities

To April, 2020 the Neoflex company reported that together with the International investment bank completed the project on automation of an asset management process and liabilities (ALM) and also financial risks on the basis of the Basel standard. The project is executed using a system on risk management of Finastra Fusion Risk.

The international investment bank is multilateral international bank of development which shareholders are nine countries. The main objective of bank is connected with support of small and medium business in these countries and participation in financing of socially important infrastructure projects. The main feature of the loan portfolio of institute is that each similar transaction has individual character and requires special attention in terms of the financial and accounting system of Bank.

An opportunity to accelerate processing of unique transactions, to provide flexibility of setup and opportunity to support necessary changes in the course of activity of bank in the future became the main priorities when choosing IT solution. The project was broken into several stages: from demonstration of opportunities of the selected solution and drawing up technical specifications before setup of a system under requirements of the customer. As management of ALM and application of standards of Basel are based on uniform initial data, the decision to conduct parallel setup in both directions that allowed to reduce project terms significantly was made.

For the solution of our analytical tasks development of additional reports which do not enter standard delivery of the module Finastra Fusion Risk was required. With it we were helped by examination of our IT partner who could close this question. As a result the bank received the industrial solution of the leading world vendor which will allow us to provide sustainable development in the future, comments on project deliverables Dmitry Bocharov, the Director of the department of information technologies of the International investment bank

The main complexity of similar projects is connected with ensuring quality of initial data and a progressive tense which needs to be spent for conducting the user testing at a stage of acceptance of functionality by the customer.

"We highly appreciate trust which was put in us by the International investment bank, having invited us in this project. Neoflex acts for bank as the uniform center of examination. And on the questions connected with solutions of Finastra, the customer can address us, without involving specialists of vendor", noted Anton Sparinapti, the partner, the Head of Department of business development of Neoflex company