Real-time banking support company CustomerXPs recently made a move to help banks in the UAE maintain compliance with new liquidity regulations.
While the new launch is a mouthful—Clari5 Real-time Intraday Liquidity Monitoring Solution—it is self-explanatory. The product will help banks in the UAE mitigate intraday liquidity risk and comply with the 240 regulation from the Basel Committee on Banking Supervision (BCBS). The new regulation mandates that by January 2017 banks must provide information for regulators and supervisors to ensure they can meet payment and settlement obligations throughout the day.
The new tool from CustomerXPs offers liquidity-trend analysis and automated alerts to help banks manage liquidity risk. The company’s CEO Rivi Varghese describes the tool as a “bolt-on system that leverages existing investments and processes … with a low infrastructure footprint.”
Founded in 2006, CustomerXPs debuted Paperless Branch Banking at FinovateAsia 2013. Last month the Bangalore-based company partnered with Kris Finsoftware to launch fraud management for banks in Asia Pacific. For more Asia-focused fintech, check out FinovateAsia this fall in Hong Kong.