iDEAL Funds

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We would like to share with you some key highlights of our solution

1.Comprehensive Solution with robust Front/Mid/Back Office module:

iDEAL Wealth & Funds is a complete end to end Investment Management solution with end to end Front/Mid/Back modules. The system covers all operations related to various investments typically undertaken by Insurance companies like equity, mutual fund and bonds. The maturity of the solution assures that the users do not have to worry about how exceptional situations are handled and operations can go live in the shortest possible time.

2.Largest Market share in General Insurance & Quick Go Live:

With 14 General Insurance clients we have over 50% market share and are the No. 1 solution provider’s in General Insurance industry. We are pleased to share with you Go Live for some greenfield projects we have completed like IFFCO Tokio go live in 30 man days, Magma HDIgo live in 41 man days,AIC go live in 75 man days. All projects were implemented on Fixed cost basis. Just to add that we recently upgraded from Credence’s old system to iDEAL Wealth & Funds new version 4.3 for Shriram Life Insurance and went live in a record 24 man days for the entire project.

3.Robust reporting:

Comprehensive reporting module handles all kinds of reporting including Deal Tickets, various back office reports like Cash flow Report, Valuation Report, NAV Report, front office reports for portfolio performance like Fund Factsheet, Holding Reports etc. System supports all regulatory reports and is updated regularly to handle all the new circulars from IRDA.

4.Strong presence in India Insurance segment:

We have a strong presence in the Indian Insurance segment with 21+ clients in Life Insurance, General Insurance and Pension Funds and over 50% Market Share in General Insurance industry. This ensures that Indian Bank. can be assured of ongoing support from a team which has experience in the common problems faced by other customers in the industry. This also enables Indian Bank. to understandindustry wide practices.

5.Strong Delivery & Support Mechanism:

Implementation & support team well versed with local practices for implementing solutions in India. Support team is capable of handling large scale operations like SBI Life Insurance (supporting since 5+ years), Bharti AXA Life Insurance (supporting since 5+ years) and SCOR INDIA Tokio Life Insurance (supporting since 4+ years) to name a few. The robustness of the support practices and structure is also proven by the support provided to customers across various geographies likeBDO Philippines (supporting over 800+ branches), FMIC Treasury (supporting since 5+ years), FSDH Nigeria (supporting since 5+ years), FAMI (supporting over 2+ years) and FMIC Trust (supporting over 2+ years). This assures Indian Bank. of committed support over a long period of time.

6.Upgrades for Market & Regulatory Changes:

Being a financial solution expert, we closely monitor regulatory changes and are very quick in responding to them. We call for a joint meeting with all our clients who are interested to upgrade their system with the new modules and also collect their feedback in process.As a result the changes and developments in client’s process are sustained, the expenses of these developments are shared, we are in good position to understand these changes before hand, also offer upgrades at pace with these changes and maintain our client’s operational efficiency ahead of other vendor’s clients.We offer a single version across all our clients so if any bugs are identified in any system by us or users, they are immediately rectified across all clients.

Our Team at Credence Analytics has always strived to provide our clients industry standard solution and respond to their requirements on an ongoing basis. We are committed to protecting the assets of our clients, their customers and provide industry-leading secure and reliable solutions. We have always treated client’s problems as our own and ensured quicker delivery of solution to empower them to overcome their foreseen and unforeseen challenges. Our service delivery, solution maturity and continuous development have ensured we maintain a high client satisfaction and retention rate. We set high standards for planning, implementation, rigorous and consistent analysis, reporting, change management, documentation and quality assurance reviews. Time and again we have delivered our commitment to deliver solutions on-time on-cost delivery with clear visibility of project status to all Stakeholders during execution. Credence Analytics owns maintains and develops all its software and brings in a matured solution with multiple live sites and highly experienced team for implementation and support.

Key Features

1.The system facilitates Deal entries of MFU Investments/Redemptions & CBLO through an upload-able excel or copy/paste format.

2.The system shows correct yield of all the debt instruments (Gsec/NCD/CD/CP/Tbill/PTC/ZCB etc.) in the portfolio at all points in the time.

3.The system is capable of showing correct portfolio yield & duration on real time basis.

4.The system updates the security holdings as & when the trades are settled since DVP3 settlement exists in market.

5.The system is able to update cash holding on real-time basis with the impact of trades as & when done.

6.The system is capable of generating MIS reports w.r.t. Cash/ yield/ duration/ regulatory exposure limits etc.

7.The System is capable of handling trades of all types of debt securities & derivatives (e.g. FRBs, Inflation indexed bonds, Repo, Swaps, IRFs etc.) apart from normally traded securities.

8.The system is able to show amortized holding cost of debt securities in traditional funds any time.

9.Real time limit monitoring as per regulation & internal mandates

10.Real time cash-flow updation

11.All types of master (For E.g. Security, Issuer, Management, Sector, Catcode, Rating, Broker, Charges etc.) will be available as defined by user.

12.Interface for uploading price files as per the format provided (for e.g. Gsec Prices, SDL from CRISIL / NSE, BSE from BILAV etc.)

13.Availability of all regulatory (IRDA) & Management reports

14.Capable of generating accounting entries from system & uploading into core accounting system (for e.g. SUN GL)

15.Download of Business Analytics Project (BAP) reports as per the format defined by regulator and upload of the same onto BAP portal without manual intervention

Key Benefits

Credence Analytics offers many advantages as a partner to its customers managing its operations. Credence Analytics has been servicing some of these customers for more than a decade with its support center is geared up to handle requirements of large size operations across various time zones.

A) Domain Expertise

We are a focused player in the Treasury and Investment management space. Thanks to continuous interactions with esteemed Clientele across Banks, NBFCs, Insurance companies and Mutual Funds, we have built a strong domain expertise both in our product offering and our people. This helps us to understand and serve our Customers both effectively and efficiently.

B) Solution - High Fitment/ Self-Implementation

With our matured industrial knowledge built as iDEAL 6.0 with all the clients of our products, we take the ownership of implementation and integration, having acquired such a vast implementation experience we have developed an expertise in meeting the entire milestone on or before time so that the clients ROI targets are been met.

Our unique implementation approach also provides almost guaranteed success in all implementations. The implementation consultants are product experts and well trained in supporting investment operations. They are well supported by a business analyst team which is well versed with Treasury best practices that provides added advantage to our clients. We have the involvement of our product architects in the implementation which almost always ensures that clients get best possible advice in solving their business problems.

C) Meets Future Requirement

The technology architecture makes the solution both flexible and scalable. iDEAL 6 is geared up to meet both present and future requirements of the Bank.

F) Client Experience

We are proud to be associated with some of the largest banks Treasury ,NBFCs, Wealth and Fund management organisations with more than 100 live sites across globe, some of our noteworthy clients are State Bank of India (approx. 2000 branches), ICICI Bank (Automation of operations across 7+ countries for complete Forex mgmt.), BDO (supporting over 1000 branches), FMIC Treasury (supporting for 5 years), FAMI (supporting over 2 years), FMIC Trust (supporting over 2 years), Bao Viet (Vietnam regulatory and market practices), FBNQuest (Nigeria, integration across multiple products and third party vendors), AXA Mansard (Nigerian Insurance organisation), Pivot (Mauritius, Custody and Portfolio mgmt. solution), African Alliance (South Africa Front office to Pivot operations), RGO (Royal Guard of Oman Investment automation)

G) After Sales Support

We had been providing after sales support to all our customers through our unique way of after sales support as we are connected with the client through VPN connectivity and we have a dedicated staff in house who works in flexi hour covering the region working time zone in this way we had been supporting our clients in Nigeria for last 3yrs / Philippines (customers having 700 branches running on our application)hence supporting a client in Mumbai would not be any issue for us as they would always be covered by after sales representative of Credence Analytics.

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