Banking, Financial Services,
& Insurance Solutions
Hoonartek’s banking data solutions provide a proven data-centric foundation for banking and financial organizations to meet operational & marketing requirements, and satisfy critical needs in risk, compliance, analytics, & reporting.
Data & AI/ML
Hoonartek has designed, built, and deployed numerous data-centric applications for banks, including cloud data platforms, extensive data integrations, legacy modernization, custom frameworks, metadata management, master data management, and enterprise data hubs.
Banking organizations rely heavily on a consistent, accurate, and updated base of homogenized data for core entities – from collateral, counterparty risk, products, and customers to ERP. Hoonartek’s risk management solution provides certified data from different source systems, core banking, and trading platforms. Our innovative framework combines a generic framework application with User Interface (UI) and enables businesses to modify their business rules. Risk and finance data comprises a ‘golden copy’ used by risk modeling tools, such as SAS, CRMS, and QRM.
BCBS 239 Compliance
Our risk and regulatory expertise span from business consulting to systems implementation. We work with global banks to deliver effective data aggregation and reporting systems that aid in risk management. Our consultants, led by former global bank directors, design a roadmap using automated metadata capture to assess source systems formats, rules, and the numerous manual interventions resulting from any bank’s fragmented IT landscape. Hoonartek’s holistic approach to BCBS 239 enables customers to conceptualize, prototype, design, build, and rollout key business elements:
- Centralized Risk & Finance certified data hub along with metadata
- Off-line and In-line data quality workbench, scoring, trending, and environment to do profiling
- Defined master and reference data management with workflow and ability to audit
- Harmonization layer of centralized metadata, well-defined business glossary, all sources, systems, and E2E data lineage
- Data publishing layer for various risk and finance systems from a centralized hub, for calculation engines and modeling tools
Regulatory & Compliance
Hoonartek has implemented numerous banking data and regulatory and compliance solutions for banking and financial services organizations, enabling our customers to meet their regulatory obligations and achieve a competitive edge. Our robust regulatory and banking solutions parse & collate vast amounts of data in real-time from core banking, cards, and transaction platforms, correlating it with the customer and product data before making it available to the visualization and rules platform. Hoonartek’s expertise and dedicated solutions include:
- Anti Money Laundering (AML)
- Know Your Customer (KYC)
- BASEL II/III
- Single Customer Identifier
- Payment / Customer Sanctions
- Solvency II
Payments, Warehouses, Hubs & Gateways
Hoonartek designs develops, and manages world-class payment architectures for banks, integrating back-end payments platforms (legacy & modern) with the Web, mobile, and other channels. We support all major financial messaging standards, including SWIFT, ISO, and EDIFACT. We create payment-hub architectures to implement back-end aggregation, front-end landing points (for multiple channels), or a combination of both.Hoonartek’s open solution integrates with most 3rd party systems and custom in-house applications to satisfy compliance and analytical requirements.
The solution includes monthly reconciliation of GL accounts with multiple source data. The accuracy of GL balances is a regulatory necessity. Hoonartek GL reconciliation solutions include:
- Standardized workflow
- Imported data from multiple core systems, including loans, credit cards, and accounts
- A data adjustment layer
- Report generation by the account holder for discrepancies
- Fuzzy matching on names
- Multi-currency rules
- Account-level checks for zero data errors and drops