C-Way – a Credit Data Reporting & management system

C-Way – a system for the management and maintenance of Credit Data Repository reporting

CwayC-Way was designed and developed by HMS, in order to facilitate the process of reporting by sources of information (credit providers) to the Credit Data Repository at the Bank of Israel.

The system provides a comprehensive solution for reporting bodies, who are obligated to comply with Bank of Israel’s Direction 100 regarding data collection, and Direction 201 regarding reporting. The system enables the user to manage the reporting and control processes via an advanced user interface, which is compatible with the regulatory guidelines.

The system is based on a powerful business constitution engine, and was designed to handle large quantities of information. It facilitates working in stages. These stages include check points which the user can use to investigate the quality of the data and of the findings displayed by the system, starting on a macro level and then drilling down to the details of the transaction/customer/customer-transaction relations. The system enables the carrying out of a detailed investigation regarding any problems in the data.   In this way, shorter processing time is required and the repair process, in case it becomes necessary to carry out a repair, commences relatively early on.  Additionally, the product has a mechanism for filtering problematic transactions, in order to integrate such transactions into a corrective report at a later stage.

The system contains a wide variety of more than 700 controls which are being implemented throughout the stages of data collection from the organization’s source (core) systems up to the carrying out of reporting itself.  Here are the types of controls which are implemented into the system:

  • Reconciliation – controls on data assimilation – checking that uploaded data correspond with input data.
  • Validity checks on a single data field.
  • Validity checks between dependent fields.
  • Validity checks over historical depth (comparing between reports from different dates)
  • Mandatory checks set out by the Bank of Israel.

The Credit Data Repository is an active database and therefore the advantages of using C-Way are manifested not only in the forwarding of the initial controlled reporting to the Bank of Israel in the required formats (CIF, IMF, CMF), but also and more significantly, in ongoing work processes which are being carried out vis-à-vis the data repository. Such processes may be the assimilation of (faulty) feedback files from the Bank of Israel, the carrying out of repeated controls/interface controls, and the storing of reports into history, which will then be used, inter alia, when responding to customers enquiries, presenting information to managers, transferring internal tasks within the organization, and for the carrying out of various investigations.

C-Way facilitates the exercising of control over the process of reporting, and makes sure reporting is carried out automatically, in accordance with the Bank of Israel’s SLA.  The advantages of automatic reporting become even more evident in the case of executing daily reporting and when receiving daily feedback files, sent from the Bank of Israel to the organization in response to these daily reports.  Without a product for the overall management of this stringent process – a significant difficulty of controlling the process is likely to be experienced.

HMS’s solution in the only solution in the market which integrates under one canopy the three key components necessary for success:

  1. Complete control over the product and over the development team, thereby facilitating a quick adaptation to customers’ requirements.
  2. A business analysis team who are familiar with the area of credit data, with the legislation and with the field of data maintenance.
  3. A local integration team who have been trained in operating the product and in providing customer support.

The system is being provided to customers in the format of a service office. This ensures ongoing adaptations, in step with any regulatory changes expected to take effect in the future regarding controls and reporting interfaces between sources of information and the Bank of Israel.  Using this method ensures that high quality reporting is made to the Credit Data Repository.

 

The processes of reporting and maintenance using C-Way:

1 – Data cleansing of data hoarding programs – providing support for the initial process of data cleaning by applying various checks, automatic completion of information and forwarding to the bank a feedback on faulty data which will then be used for the repairing of the data hoarding programs and of the data cleansing processes.

2 – The application of controls on reporting – executing ongoing checks as part of the reporting process. Running hundreds of checks, both technical as well as business checks, on the information being stored. Displaying faulty checks and providing details regarding errors, in order to facilitate a repair. Adding any organizational checks.

3 – The generation of report files – generating formats of reporting which comply with the various reporting requirements posed by the Bank of Israel. Displaying the Bank of Israel’s feedback regarding the reporting.

4 – Investigation of controls – a detailed display of all faulty checks. This enables the repairing of the information in the source systems. Assimilating a feedback for the various reporting formats, displaying it, displaying any faulty checks and providing details regarding any errors, in order to facilitate a repair.

5 – The management and maintenance of reporting – documenting the entire information which is being reported. Managing the statuses of reports, SLA, and the ability to investigate reporting history – in order to respond to communications made by the Bank of Israel and to customers’ queries, and for the purpose of carrying out internal investigation.

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