Dovetail launches packaged solution for addressing BCBS intraday liquidity monitoring compliance
11 March 2014
Dovetail, a leading provider of next generation enterprise banking solutions, today announces the market availability of the Dovetail BCBS Intraday Liquidity Monitoring Solution, specifically designed to address the intraday monitoring requirements of the Basel Committee on Banking Supervision (BCBS), including the seven monitoring tools.
Reporting banks of all types and sizes, including internationally active banks, correspondent banks, and direct participants, can now be confident of meeting the January 1, 2015 regulatory deadline, with minimal risk and significantly reduced overall compliance effort.
Martin Coen, Chief Executive Officer at Dovetail commented: “The new intraday requirements are fundamentally different to Basel II. Regulators are asking for information derived from real-time cash flow data that existing systems simply don’t capture. Aggregating periodic positions must be replaced by capturing real-time item level data. Our experience, contrary to the perception in many banks, is that implementing a new solution for BCBS monitoring is often less effort and lower risk than adapting existing systems. Tactical solutions, such as manually generated spread sheets or customising Liquidity Risk or Reconciliation systems, generally lack the data necessary to match cash flow events and calculate positions in real-time.”
The Dovetail Solution is powered by Dovetail’s award-winning real-time item level matching and normalization technology, which takes opening and intraday balances and cash flow events from internal and external systems, including SWIFT correspondent flows, via standard adapters. This provides a real-time, normalised view of intraday liquidity together with the ability to view summary reports and drill down to monitor individual cash flow items. The end result is straightforward to install and maintain, enabling banks to meet short-term compliance needs while supporting overall strategic liquidity management and monitoring goals.