Solutions
Our collective years of experience help us to understand the variety of challenges
faced in the BFSI sector. Our solutions address your diverse operational
challenges across business practices and industry segments.
Asset Management
Asset Management
As information technology organizations grow and mature, there is a greater need to streamline asset management to deliver business value. Our solutions are built to improve your operational efficiency by addressing the core challenges you face as an asset management company.
Dependence on external data
Obtaining and seamlessly processing data from multiple sources i.e., custodian (position), market info (price, corporate actions), RTA (subscriptions & redemptions) and credit rating agencies (ratings, benchmarks).
Compliance
The dynamic nature of compliance - based on domicile, preponderance of rules.
Timeliness and accuracy of NAVs
Generating hundreds of NAVs & take care of NAV based fee complexities within a stipulated time while being accurate to the nth decimal.
Liquidity management
Investing subscriptions on time, calculating cash demand for funds to service redemptions and predicting investible funds accurately.
Through our next generation investment management platform, Hexagon mPower, Mutual Fund institutions can now ensure timely computation of hundreds of NAVs and throughout the day monitoring. Greater operational efficiency is accomplished through automation as middle and back office operations are a lot simpler and smoother.
Our Investments solution, Hexagon mPower ensures that you are up to date with the growing and changing regulatory requirements.
Adherence to compliance and investment restrictions is at the core of any business. As investments are generally long-term, regulations revolve around assuring safety and reducing risk. The solution enables firms to quantify and assess vulnerability across all compliance criteria.
Dependence on external data is crucial. The solution architecture enables users to obtain and seamlessly process data from multiple sources – custodian (position), market info (price, corporate actions), Policy admin systems (fund inflows and outflows), credit rating agencies (ratings, benchmarks) and others.
The solution enables regulatory reporting which generally requires a more conservative valuation approach, driven more by amortized cost and other accounting data. It also provides performance and peer comparison which require a more market information-oriented valuation approach.
The solution also enables appropriate segmenting and categorizing of assets in multiple ways viz. classification based on accounting, classification for fund managers/dealers, for each regulator and so on.
Easily identify discrepancies through reconciliation of values across related reports. This is addressed by automated tallying across reports & checks for unnatural spikes in values across time periods.
Advisory firms provide both investment advice as well as compliance monitoring. Advisory solutions need to support dynamic models for asset allocation & rebalancing, provide careful investment selections, and enable managers to achieve various portfolio objectives based on their clients’ goals and risk tolerance. The key features of Hexagon mPower for investment advisory include:
Tools to enable modeling, balancing, rebalancing, impact analysis and ‘what if’ analysis across multiple portfolios.
Automation and seamless processing of executions and portfolio statements from fund managers or other executing entities.
The ability to provide a complete view of compliance status and alerts relevant to executives across entities in the event of a breach. This includes support for both active and passive breaches.
Support multi-time zone activities, for example, support for a scenario where – fund manager is in zone A, advisory firm in zone B, and fund account in zone C.
While it’s good to have cash on hand, managing substantial cash and equivalent assets can be a complex issue. Larger companies typically have huge portfolios in multiple currencies across multiple jurisdictions. Corporate treasury managers have to keep track of the money and calculate & report the returns from those investments. This calls for collecting data efficiently, automating repetitive processes, and meeting reporting & regulatory requirements. Managing cash requires firms to overcome challenges such as:
Independent pockets of processing, dependant on spreadsheets, paper and standalone systems.
Lack of a consolidated view of balances.
Separate, inter-departmental processes.
Data keyed in manually, often into several different systems resulting in the risk of keying errors and an inefficient use of resources.
The cash management module from Hexagon mPower, enables asset management firms to bring in structured processes that eliminate bottlenecks. Enhanced and effective planning is achieved through an inbuilt tool that provides automated projections and operational & strategic reporting.
Hexagon mPower’s robust front office module facilitates the fund managers to achieve Quicker TAT through advanced inbuilt. Using the command line interpreter, the user can specify a few words in a pre-defined syntax, which enables automated form filling and transaction execution while ensuring that necessary compliance checks happen. The Front Office Suite also features a robust Pre-Deal module for modeling, balancing, rebalancing, impact analysis, ‘what if’ and ordering across multiple portfolios.
Securities Processing Firms
Securities Processing Firms
Securities processing firms face challenges with transaction volumes, cross-border trades, complex financial products and quick settlement turnaround times. They require solutions that cover an entire gamut of functions inclusive of trade order management, settlement and accounting. Our solution ensures the benefits of operational efficiency & flexibility, and enables a variety of functions.
Handling of multiple clients across multiple geographies (time zones)
The ability to configure the shop floor either on a client-centric or a process-centric manner
Reconciliation and auto-checking tools to ensure that all NAVs and other critical figures are reconciled and validated before transmittal to clients
Adhering to SLAs (monitoring, escalation and management)
The ability to service multiple clients through one set of reference data (multi-tenanting)
Our solution Hexagon mPower, provides fund accounting firms with the ability to quantify & assess their vulnerability across all compliance criteria. It also provides for real time monitoring through a rule-based method. Compliance officers can enhance controls to manage vulnerabilities using simple steps. Furthermore, the design enables anytime, anyplace access to the system either to seek information or to perform activities.
Firms are increasingly gravitating towards a single, seamless and cost-effective solution to manage all aspects of fund management. Administrative processes are typically labor-intensive and silo-ed, requiring manual supervision, automation has therefore been a key focus area. Investment strategies are also evolving rapidly and fund managers are moving away from traditional approaches, which is where Hexagon mPower competes to provide flexible and effective management of a range of fund constructions, and support for structured products, instruments and vehicles. Considering budgetary constraints and regulatory pressures, the solution also delivers accurate and detailed reporting including canned and regulatory reports.
Compliance
Compliance
The Financial Services industry faces unprecedented regulatory challenges as institutions struggle to improve their ability to respond to regulatory compliance. Hexagon Global provides regulatory update services and supports clients through the transition phase to comply with regulations in a timely manner, within the technology framework.
New regulations have come into place with the onset of the FATCA regime. This has imposed substantial new due-diligence requirements for holders of financial accounts and requires reporting under certain circumstances and withholding under others. Our solutions team leverages our product features, to advise on making changes that have minimal negative impact, test these changes and enable compliance within optimal efforts.
Our solution, Hexagon mPower, provides for continuous monitoring of sensitive market & internal information including market price, interest rates, capital & borrowings of listed entities. The risk team can stay assured on zero-latency in exposure monitoring. Through our industry forums we continuously strive to ensure the effectiveness & relevance of compliance programs in key risk areas. A strong framework of policies, procedures and controls enables compliance and risk functions to prevent, detect and promptly correct compliance problems.
Our Investments suite, Hexagon mPower enables:
Robust compliance monitoring and real time dashboards.
Pre-defined regulatory policies and controls, all supported under the base solution.
Drill down reports and dashboards for compliance monitoring on a real time basis.
Facilitation of internal & external data aggregation, critical for regulatory reporting.
Active & passive compliance checks to ensure proper governance and greater oversight.
Wealth Management
Wealth Management
Our well-honed knowledge of the business domain has helped us create a solution built to tackle a range of challenges that wealth management firms typically face.
Increasing cost and complexity
Legacy IT systems with siloed information across business units
Client mandates and regulatory overhaul that place increased pressure on financial firms to meet compliance
The need to manage a large client base (typically in 1000s)
Complex algorithms that are required to manage bulk trade allocations
Supporting multiple valuation methods based on end-client needs
Complex fee structures which are further tailored for specific clients
Reporting – dockets and presentation quality
Hexagon mPower is a modern, comprehensive, front-to-back, multi-asset wealth management solution with an easy to use interface. It provides wealth managers with powerful what-if & analytical tools as well as a logical layout of information for quick analysis. The solution helps users to assess opportunities based on either active or passive strategies and enhances portfolio yields. It unifies portfolio management, compliance & risk and accounting functions under one modern technology platform. Hexagon mPower provides position and valuation management for across multiple assets, configurable dashboards & grid views for risk and other analytics.
Reconciliation
Reconciliation
As an organization takes evolutionary steps towards standardizing its processes, a growing need to achieve operational maturity arises & the need for a single technology platform across enterprise becomes paramount.
Hexagon iMatch provides clear upstream and downstream view of reconciliation processes, accommodating new reconciliation requirements in a modular fashion. This addresses some key challenges faced by the industry.
Manual processes
Dependency on spreadsheet-based reconciliation which often leads to errors
Auditing challenges
Lack of visibility into statuses and risk
Need for ownership & workflow
Bank Reconciliation activity has become a time-consuming process as it requires firms to overcome the challenges of:
Interweaving critical information from an expanding set of service providers (including other banks and third parties), with their internal enterprise system, to continually provide a ‘single version of truth’.
A shift in payment methodologies with a significant increase in the percentage of payments being made through NEFT & RTGS mechanisms.
Hexagon iMatch primarily addresses these challenges and brings in greater operational efficiency by automating the entire process. Our platform is comprehensive in its ability to define matching algorithms, learn on its own by understanding patterns & progressively enabling increased auto matching where efficiency is of paramount importance.
Insurance firms have evolved into complex enterprises that are geographically divided with multiple business lines & country subsidiaries. Regulatory compliance issues often affect accounting transactions that in turn impact monthly, quarterly and annual financial close activities.
In order to deal with diverse systems housing data, reconciliation is departmentalized and duplicated in silos, when it should be centralized. Poor internal controls and disparate business units ultimately lead to misstatements on the balance sheet and the inability to close books in the face of accumulating reconciliations.
Hexagon iMatch provides for a range of reconciliations in the insurance sector including policy & receipt reconciliation, collections reconciliation (involving multiple third parties and channels), payment reconciliation, underwriting, claims and agent collections reconciliation.
Hexagon iMatch uses an approach that is flexible enough to integrate with your own methodology and process. This ensures that you are able to measure your success internally while working within a proven technology framework. The platform provides automation combined with consistency and predictability, essential for financial governance. Hexagon iMatch also aims to keep manual intervention at a minimum through various alert mechanisms that track account variances, a flexible rule engine, reconciliation process variability, and providing status, deadlines and metrics on a real time basis.
Financial institutions including banks are heavily burdened by back office operations. Shifting regulations, ever-increasing business volumes, the pressure to reduce manual errors and the need to achieve data consistency have left firms struggling to manage their financial reconciliation processes.
Our reconciliation platform, Hexagon iMatch, provides for enterprise wide reconciliation for banks including ATM Reconciliation, POS Reconciliation, Interbank & Interbranch, Clearing account, Nostro Reconciliation, Collections and Payments.
With high precision and a complete audit trail embedded in our solutions, we can automate reconciliation across all areas of a bank. Hexagon iMatch tracks individual transactions from the moment they originate until they have reached a terminal status in all systems. Reconciliation of this Transaction Lifecycle ensures that every step of your process is complete and wholesome.
Trustees
Trustees
Trustee companies are facing increased risks due to the lack of access to real-time scheme data that helps them to make crucial decisions. Risk is key as these companies face a growing list of responsibilities & have to adapt to changing market circumstances while balancing the pressures from both the sponsor and the regulator. Trustees want to ensure that governance structures focus on what’s important and embrace a risk-based approach to funding, where all investments, contributions and covenant avenues are explored to deliver better member outcomes.
Our trustee solution, has been carefully developed to ensure process efficiencies and quick turnaround time for crucial data. The solution enables you to:
Capture and process all client/member transactions.
Shadow processes and pro-actively compare results against those provided by clients/members.
Manage multiple clients/members and multiple businesses (unit trusts, private debt, wills and estates).
IFRS
IFRS
IFRS guidelines are being increasingly adopted and are seen as the emerging standard for financial reporting. Firms are beginning to invest in systems that can generate and maintain financial books as per these guidelines, while their existing systems follow the prevalent GAAP. The adoption of these systems is seen as a necessary preparatory step before the big shift, in order to better understand implications, analyze the differences between the existing GAAP & the IFRS and to be fully aware of the impact on major, sensitive account heads.
IFRS compliance
Our IFRS solution is primarily a rule-based system, which allows for definition of multiple portfolios and provides decision trees through which investment strategies can be applied across asset classes.
The system, feeds off the operational, reference data of existing products that continually helps to enrich its database. It performs all necessary computations, accruals, valuations and revaluations as mandated for IFRS compliant accounting.
The rules defined in the IFRS system are expected to enable all downstream processes involved in generating, managing and presenting accounting data. Hexagon mPower focuses on optimizing the routing of reference & transaction data from the existing systems to the IFRS system with minimal human intervention.
Our solution eliminates the stress and labor involved in maintaining IFRS books in a semi-manual, high-volume system. It thereby reduces the time to report period-end numbers, essentially underpinning the requirement for an automated and specialized system.
Agencies
Agencies
When it comes to distribution, the mutual fund industry has become an increasingly unequal market for players. For manufacturers of financial products, the concentration risk is high on the distribution side as big distributors get bigger, and the small remain small. This has constantly eroded the pricing power of product manufacturers.
Our mobile-based solution, EzeeAdvise EzeeInvest presents technology in a way that builds and enhances the underlying business relationships, does not undermine roles, creates a win-win situation for all stakeholders and at the same time and enhances system efficiency & effectiveness.
The EzeeAdvise EzeeInvest platform adopts a social media design akin to Facebook’s on-boarding model to enable advisory relationships between investors & distributors and also between associates & employees of a distributor.
The EzeeAdvise EzeeInvest advisory model:
Enables the advisor to build a large retail distribution network of financial products.
Empowers informed Independent Financial Advisors to expand their reach without high investment costs.
Facilitates small intermediaries to have access to technology tools that are on par with or exceed those of large distribution houses.
EzeeAdvise EzeeInvest is a mobile-based application that is easy to download and ready to use following a simple, two-minute registration process. Customers can set financial goals and invest anytime, from anywhere. The solution supports multiple payment settlement processes viz. Internet banking, debit card, debit mandate, fund transfer, NEFT and RTGS.
The EzeeAdvise EzeeInvest direct investments model provides:
An E-commerce like experience in terms of buying and fulfillment.
A strengthened Advisor – Investor relationship.
An intuitive design that facilitates completion of the transaction in just 4 clicks.
Pension Funds
Pension Funds
Enhanced investment performance and benefit security is reflected through underlying sound governance. Cost-efficient, straight through processing is key to dealing with complex requirements from external clients, internal clients and regulators.
Our comprehensive Pension Fund solution provides support for investment strategies, intelligent asset allocation and internally or externally managed mandates. The solution lends flexibility to asset managers to execute investment strategies that meet goals, thereby achieving an optimal balanced income portfolio selection. It also provides reliable support for fund accounting and helps to manage a range of fund constructions and products.
The key features that our solution provides for managing pension fund business operations are:
Portfolio analysis tools
Pre- and post-trade compliance checks
Rebalancing
Order management
Reporting
Portfolio Management Services (PMS)
Portfolio Management Services (PMS)
In recent years the financial services industry has witnessed a heightened interest in portfolio management. However effective implementation has been a key challenge in difficult economic conditions. The market volatility and uncertainty has exerted pressure on both portfolio managers and investors to minimize the risks and to generate good returns or at the very least maintain their investments if not grow them.
Hexagon mPower caters to Portfolio Management Services under various models as may be applicable to firms. These are typically:
Discretionary portfolio management, wherein the portfolio manager individually and independently manages the funds of each client in accordance with the needs of the client.
Non-discretionary portfolio management, wherein the portfolio manager manages the funds in accordance with the directions of the client. The portfolio manager cannot make buy-sell decisions at his own discretion; he has to consult the client for every transaction while executing each trade. The choice as well as the investment timing rests solely with the Investor. The advisory covers both investment advice as well as compliance monitoring.
Our advisory solution provides:
Tools to enable modeling, balancing, rebalancing, impact analysis & what if analysis across multiple portfolios.
Multi asset class and multi currency accounting capabilities.
Up-to-date regulatory requirements.
Automated reconciliation of trade information and positions between multiple parties.
A complete view of compliance status and facility to trigger alerts relevant to each executive across multiple entities in the event of a breach. It supports both active and passive breaches.
Find out how you can double your operational efficiency
Bengaluru - 560102.
Sales & Marketing
India: +91 98450 23934
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For all general enquiries reach us at [email protected]