No results found

Your search did not match any results.

We suggest you try the following to help find what you're looking for:

  • Check the spelling of your keyword search.
  • Use synonyms for the keyword you typed, for example, try “application” instead of “software.”
  • Try one of the popular searches shown below.
  • Start a new search.
Trending Questions

Implementing HFM to reduce branch-wise data load and consolidation time

 

Oracle was able to implement a financial management solution at HDFC Bank. Learn about the process here.

Business context

Financial reporting, as an element of regulatory compliance, is critical to a global bank’s operations. A robust financial management tool is the most efficient way to integrate financial reports while maintaining the standards of reporting. Such a tool can gather and record all the details across a bank’s transaction ecosystem which can later be presented to the RBI for financial auditing.Therefore, it was imperative for HDFC Bank to implement a financial solution that could efficiently handle the huge volumes of data generated by its ever-expanding banking business.

Solution deployed

Oracle worked to make financial report integration a more intrinsic part of HDFC Bank’s digital ventures. The first upgrade to the existing architecture came in late 2015. By 2016, HDFC Bank had upgraded the Financial Management platform.

Benefits

This implementation helped HDFC Bank reduce their branch-wise data load time to 45 minutes and consolidation time to 4-6 hours with a 100% success rate. Additionally, the Bank was able to generate customised reports from the platform. Oracle’s solution helped the user audit and maintenance (UAM) team significantly reduce reporting time from several hours to mere minutes, while addressing critical compliance requirements and mitigating risk.

Other outcomes included:

  • End-to-end automation in generation of TB/FS (trial balance and financial systems)
  • Implementation of RBI ADF Phase I, II, and III for use in RBI Automation Solutions to meet RBI Reporting and Returns regulatory requirements

Share this Page