AI-Enabled Regulatory Reporting

As Regulatory Bodies required Reporting Entities (RE) to submit compliance data, RE would have to comply to the end to end reporting cycle fulfilling the requirement from Regulatory Bodies. The reporting process is always tedious and involve repetitive manual intervention work. Therefore, OrangeFIN implement the OrangeWorkforce solution to help the industry to overcome the constrain in reporting cycle. AI-Enabled Regulatory Reporting Solution defeated this purpose.




What is AI-Enabled Regulatory Reporting?


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  1. Used of OrangeWorkforce Robotic Process Automation (RPA) in Regulatory Reporting Solution.

  2. The solution is aimed to automate the operation processes and activities in between Data Source, INReport and Regulatory Submission Portal.

  3. The use of OrangeWorkforce in INReport is to replace the involvement of manual intervention work throughout the end to end reporting cycles initiate from data preparation until report submission to Regulatory Submission Portal. At the same time, OrangeWorkforce will also involve in automate the rejection file rejected by Regulatory body. This is to improve efficiency in reporting process cycles.

  4. The Regulatory Reporting Solution introduce by OrangeFIN’s partner company, InsiteMY, refer as INReport. OrangeWorkforce integrated with INReport to complete the end to end reporting cycle process.



What is AI-Enabled Regulatory Reporting Doing?

AI-Enabled Cheque Clearing covers the 4 main modules:


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  1. Data Preparation:

    • OrangeWorkforce will get the source readiness complete for INReport to perform processing.

    • OrangeWorkforce will gather the required data from various platform, perform data massaging pertaining to business requirement, consolidate data into a final copy and store the file into INReport server.

  2. Data Reconciliation:

    • OrangeWorkforce can retrieve data from other platform and reconcile with the data from INReport.

    • The reconciliation results can be generate into a reports and send to relevant party to perform analysis.

  3. BNM Rejection File Automation:

    • For the submission data rejected by Regulatory Body, OrangeWorkforce can download the rejection file and perform comparison with the data process from INReport to identify the history and chronology of the data.

    • OrangeWorkforce can generate a justification report for the rejected data and send the report to branch user to fill in remarks or comments and finally send the report to regulatory body.

  4. Submission Monitoring:

    • After report has been submit to Regulatory Body, OrangeWorkforce will access to the submission portal to mirror the submission status to INReport.

    • With this solution, user can monitor submission status at INReport instead off login to submission portal.

    • INReport will always contain the up to date submission status of the submitted reports.



Why you need AI-Enabled Regulatory Reporting ?



  1. Reduce Operation Time & Cost:

    • OrangeWorkforce automate the manual reporting process with simplify process within short timeframe.

  2. Overcome Source System Readiness Issue:

    • To honour the compliance with central bank requirement, sometimes it does involve enhancement at source system in order to prepare the data repository for reporting purpose. However, Source system enhancement is time consuming and incurred high cost. Most of the time, the source system could not manage to meet the central bank timeline. Some of the data still not able to flow to the system. With the use of OrangeWorkforce, the completeness of data preparation can be accomplished. OrangeWorkforce can prepare the missing data from source system and consolidate the data into a manual file to be load into INReport.

  3. Speed up Source Data Preparation:

    • Data feed no longer depends on source system readiness. OrangeWorkforce can perform data preparation and supply the data to INReport to perform processing.

  4. Shorten Reporting Process Completion:

    • With the OrangeWorkforce involvement in end to end reporting cycles, the solution can speed up the reporting process compare with using manual intervention way and thus increase productivity.