Cash visibility and forecasting are significant challenges for bank treasury. Short and long-term forecasts are near impossible when data is stored on multiple, disparate systems across the organization. Managing data across different systems for market and credit risk increases operational risk. Regulation and compliance reporting are age-old bank challenges.
By creating a single source of the truth to break down silos, treasurers can enhance visibility and mitigate risk throughout the enterprise.
Openlink provides enhanced, accurate data forecasts in order for bank treasury professionals to make strategic liquidity decisions. A single platform solution, it provides a holistic view across the organization, real-time risk and scenario analysis to mitigate risk and reduce volatility by helping to ensure positions are accurately hedged. A full set of accounting and regulatory reports across global jurisdictions complements the solution.
Probably the most used tool for cash forecasting is Excel. It is probably also the reason for many missed or inaccurate forecasts.
Openlink solves the problem of spreadsheet error propagation by locking down the ability to change forecasts to only those who have been allowed access and by tracking every change made to a forecast in a complete audit trail. Automated controls and a single source of data improve the accuracy of forecasts. You can also document each forecast in order to track its original source, whether emails, faxes, trade tickets or more.
Due to an increasing focus on global regulatory reform since the financial crisis, regulators are requiring banks to maintain sufficient capital and liquidity buffers, centralize swap clearing to reduce counterparty risk and maintain robust controls to effectively value and monitor their risks.
Openlink provides a centralized database enabling banks to accurately assess, monitor and control their balance sheet and off-balance sheet exposures. Openlink provides a full set of standard risk tools and reports enabling bank treasury staff to make accurate risk decisions in real-time.
Having complete, accurate and timely data is a necessity for regulatory reporting. This data is often stored in multiple systems, in paper files or in spreadsheets, which makes completeness, accuracy and timeliness difficult to achieve on a regular basis.
Openlink has a global footprint and close relationships with central banks, regulators, clearinghouses, data providers and repositories. Our global presence and expertise allows us to provide best practice regulatory solutions for our customers. By having all of data in a single database, accurate, timely and complete regulatory reporting is achievable.
To learn more about how Openlink Solutions can work to improve ROI and streamline operations in your business, contact us for a free consultation or no obligation demo.