Challenge
Key challenges for BFSI firms in business record management include complying with legal & regulatory policies, and siloed information. The volumes generated have increased along with cost of recovering misfiled documents, calling for robust document record management systems. Auditors and investigators are looking for accuracy in compliance reporting functions. Financial firms need to adopt complex record keeping and information sharing processes.
Solution
TCS BRM Solution framework can help plan & implement Business Records Management system to achieve Legal and regulatory compliance and enhanced reporting. Key features include:
Metadata Enrichment Model – Solution Framework to achieve metadata enrichment
Chain of Custody – Validation of records across the lifecycle
Automated records classification and onboarding- AI & NLP based algorithm for records classification, taxonomy integration & an automated onboarding of new feeds
Information model – Approach & Considerations for building information model for record lifecycle management
Records Lineage – Enable integration, enriching and tracing the metadata without impacting the original records
- Data Architecture – Solution Framework for overall data architecture part of the BRM solution
Benefits
Platform Agnostic Solution Framework
Process any type (structured/unstructured) and form (physical/digital) of information
AI & NLP for maximum automation
Utmost focus on Regulatory Compliance requirements including Audit and Investigations
Automated feed on-boarding
Leveraging years of experience
Faster time to market
100% auditability of the information