CustomerXPs releases real-time intraday liquidity monitoring solution for UAE banks
UAE banks must comply with the BCBS 248 regulations by January 2017
Banking analytics vendor CustomerXPs has unveiled its new Clari5 Intraday Liquidity Monitoring Solution. This “real-time, packaged and ready-to-deploy” solution aims to help banks in the UAE to comply with BCBS 248 requirements for intraday liquidity risk management, says CustomerXPs.
The deadline for compliance with the BCBS 248 regulations is January 2017.
CustomerXPs’ offering promises data integration across all systems, and can be deployed onsite on in a cloud environment.
“Clari5 adopts a non-invasive implementation with minimal disruption by re-using existing data flows and connections and shrinks regulatory compliance timelines from months to weeks,” the vendor states.
Rivi Varghese, CEO of CustomerXPs, describes Clari5 as “the central nervous system trusted by large banks globally and in the region”.
Clari5 BCBS Intraday Liquidity Monitoring Solution includes an in-built rules engine to compute intraday liquidity positions; an intraday liquidity pattern detection engine (with an ability to add new scenarios and rules and deploy them instantly); and an integrated case management system to monitor and investigate the intraday liquidity monitoring alerts.
As it integrates with multiple core systems, it can “factor in the entire behaviour to help identify suspicious patterns”, the vendor states.
On the reporting side, there are regulatory and management reporting workbenches, for generating and filing the reports electronically.
CustomerXPs also highlights a scenario authoring tool for configuring “out of the box” scenarios.
BCBS 248 for UAE banks
In 2015, Central Bank of the UAE, published qualitative and quantitative liquidity management requirements for domestic banks.
The quantitative liquidity requirements are categorised into:
- UAE specific – the eligible liquid asset ratio (ELAR) and the advances to stable resources ratio (ASRR);
- Basel III – the liquidity coverage ratio (LCR) and the net stable funding ratio (NSFR).
UAE banks can either apply UAE-specific ratios or (with the central bank’s approval) Basel III ratios.
Banks wanting to apply Basel III ratios must demonstrate that they have the necessary governance, controls and processes frameworks in place and show they comply with qualitative liquidity standards.
Read our exclusive interview with CustomerXPs’ CEO and founder, Rivi Varghese, on the banking world going digital and what it really means, and the threats and opportunities it presents. “Welcome to the new world where the CRO never sleeps…”
