Return Submission Solution (ORASS)
ORASS securely automates the submission of ORASS returns to BoG for all financial institutions. Use our end-to-end solution to manage all aspects of return submission, including extracting the data from your core banking application (or other sources), validating the data to meet BoG rules, formatting of data to conform to BoG requirements, generating the final returns, and submitting the returns directly to the ORASS API. In addition, we provide analytic tools for you to review the data, a set of workflow tools to ensure returns are properly reviewed by authorized persons, and a highly secure solution that restricts access to only authorized persons.
Key Features
Data Extraction, Loading and Validation (DELV) Engine
We will extract data elements from your core banking environment and map them to the BoG report template fields. We have implemented DELV for major banking applications, including T24 and Banker’s Realm.
The DELV engine:
- Develops parameterized and automated queries to extract all data securely, including from multiple sources.
- Validates all data against BoG requirements and rules, both individual fields and record rules.
- Summarizes and reports actionable information on records and fields.
- Presents all extraction, validation, and summary results in a visually appealing format.
- Presents screens to capture data that aren't easily included in the automated data extraction process.
Analytics Engine
ORASS allows financial officers to review their return data using interactive dashboards and interactive, graphical pivot tables.
The Analytics Engine:
- Provides interactive pivot tables and dashboards to review KPI
- Provides customizable dashboards
Workflow Management
ORASS' workflow engine ensures that returns are approved by the CFO or their representative and the reporting officer as required by BoG. Returns are not submitted to BoG via the API outside of the workflow approval
The Workflow Engine:
- Notifies all agents of the status of pending returns.
- Ensures all returns are reviewed and approved without validation errors before submitting to BoG.
- Submits approved returns to BoG through the API.
- Tracks, updates, and sends notifications about status of submitted returns.
- Allows for substitution of officers to ensure process absence of an officer does not present a bottleneck.
Other Modules include
Security
Two different security features to ensure data integrity.
- System administrators to grant permissions based on need
- Tracks all changes made to the report data
- Detailed Forensic analysis of report when needed
Report Generation
The report generation engine populates each return after validation.
- Preview all data loaded from the input source before generating reports for review
- Generate and validate each return
API Management
The API management module provides solution to manage communication with the BoG ORASS API.
- Determine pending returns and the status of returns
- Notification to various stakeholders about the availability and status of reports.
- Creates entries in the system pending data load