Established in 2000, eClerx, a Knowledge Process Outsourcing (KPO) company develops flexible reporting frameworks and methods to aggregate and analyze data in the financial institution to report worldwide. “The report gives banks the ability to manage operational, market, credit, and liquidity risk in a timely and efficient manner,” adds Paris.
eClerx’s Operational Risk Reporting builds the risk reporting framework and verifies the right portfolio of reports that can accurately represent all intrinsic operational risks. The framework’s real-time middle office operational risk dashboard provides a holistic view of business operations across the trading areas and asset classes. “This middle office dashboard allows the customers to observe the state of a particular trade during the trade process life-cycle and mitigates the risks,” briefs Paris. The risk-reporting framework determines an accurate report, which highlights compliance with regulations.
Designed recently, Paris described The Risk pro platform as a combination of technology, workflow, and databases.
Our solution manages the reporting and provides liquidity in the financial market place
“Our principal focus is to provide a solution that manages the clients’ trade process and reporting life-cycle,” emphasizes Paris. For instance, one of eClerx’s clients, a European-based bank, had over 400 reports produced across multiple centers around the world. Too many records resulted in overlapping and inaccuracy for the client. “We centralized their reporting and were able to risk rank the reports,” explains Paris. The solution also eliminated redundancy in the data and the outcome was reducing 400 reports to 150. In addition, the solution streamlined the client’s processes for data aggregation, cleansing, extraction, and analytics. The customer gained accurate information and reduced the overhead expenses associated with producing those reports. “Our solutions save our clients from P&L losses arising due to inaccurate documentation,” says Paris.
From the financial service perspective, eClerx highly focuses on capital markets, investment banking, functions, processes, operations, and technology. “With our domain expertise in the financial sector, process expenses and delivery to market, we work on solving our clients’ problems. This sets us apart from other competitors,” says Paris. Through the recent acquisition of a creative service and digital production firm, eClerx plans to introduce new product suites for banks pertaining to digital asset management in the near future.