Automated FETERS Reporting for RBI Compliance and Accura

FETERS R-Returns Solution To Meet RBI Regulatory Requirements

Trade Finance processing continues to be manual & paper based, highly regulated & lack of proper digital platforms along with non-integrated IT landscapes add to the processing inefficiencies.

Product Presentation

An automated solution for managing the FETERS reporting

Foreign Exchange Transactions Electronic Reporting System (FETERS) is a Reserve Bank of India (RBI) system for the electronic reporting of foreign exchange transactions by authorised dealer (AD) banks in India. The system was implemented to ensure timely and accurate reporting of foreign exchange transactions, thereby enhancing the foreign exchange market's transparency and efficiency.

What Is RBI - FETERS R-Returns For?

Regulatory requirement

Submission timelines, frequency, and compliance obligations

Accuracy and Compliance

Ensuring data accuracy and adherence to RBI regulations.

Timely Submission

Facilitating prompt submission of R-Returns within specified deadlines.

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Streamlining Forex Transaction Reporting

Accuracy and Compliance: Ensuring data accuracy and adherence to RBI regulations

  • Seamless integration with ADs' banking systems and comprehensive support for implementation, training, and troubleshooting

  • Overview of robust security measures implemented to safeguard sensitive financial data

  • Encryption protocols, access controls, and data integrity mechanisms

Timely Submission

Facilitating prompt submission of R-Returns within specified deadlines

  • An automated solution can process large quantities of data quickly and effectively

  • Reducing the time and effort required for manual data entry and validation

  • Implement secure APIs to facilitate seamless integration with reporting entities

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Solution Features

Complete Trade Finance Platform

Snapshot view of the customer accounts, commission charges, forex rates.. Complete View of Trade Finance business across all channels. Improved Audit & Compliance. Automated Workflow designed exclusively for Trade Finance.

Supports Enhanced Compliance

Workflows for trade origination, Document Examination/Compliance, Product Lifecycle & Straight Thru Transaction Processing. Complete Configuration of Bank’s Approval Matrix & Deviation Hierarchy. Chain based approval as per Bank’s SOP AML, Sanctions & Blacklist Country Checks via Integrations.

RBI FETERS R-Returns Solution Features

Web Based Portal accessible across the bank departments

The Solution can process large quantities of data quickly and effectively, providng access to concerned teams, reducing the time and effort required for manual data entry and validation.

Reporting of Vostro, Treasury, all Forex Transactions types, etc

In-built Validations as per RBI requirements. Validations for Vostro Accounts - Country Code, Currency, etc

Validated Output obtained as per RBI Requirement

Validations for Vostro A/c Country Code, Currency Consistency Checks at Level 1, 2 and 3

Automated QE Purpose Code defined based on Transaction Purpose Codes

Auto Computation of Opening balance and its related Closing balance. Zero restriction on past data incorporation

BOP and QE File uploads for Record Rectification

Cascading the rectified records and regeneration of BOP and QE files Subtotal computation with Previous balances Generating requisite files post classifying transactions in appropriate QE Purpose Codes

Data Provision and Rules Management as per banks requirements

Maintenance of historical data from Reserve Bank of India. Complete file history for all records maintained.

WHY CHOOSE US ?

Trusted by leading Indian and Multinational Banks

Enabling Digital Transformation in Trade Finance, Customer Communication, Compliance, Audit and Regulatory Reporting

Globally Recognised for Niche Products and Domain Expertise

We deliver technology-driven solutions that drive digital transformation for banks, their customers and help them get ahead of today’s challenges to capitalize on what’s next.

Intelligent, Adaptable, Cost efficient and Highly Scalable solutions

Providing the critical tech infrastructure that powers Trade Finance, Corporate Portal, Foreign Exchange, Regulatory Reporting, Compliance, Audit and Corporate Communications to enable better financial lives.

Experienced Management focused on Research & Innovative Banking Solutions

Decades of global experience across Banking and Technology enables us to visualise the transformation journey that increases efficiency and reduces risk.

Transforming Business and Technology Architectures in parallel

Designing Experience centric, customer focused, digital first journeys with the latest technology implementations.

Singular Focus on Customer First

Clear focus on BFSI Automation, Compliance, Regulatory Reporting. Customer Centric Approach. Comprehensive solutions used by thousands of bank users & corporates.

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Product Presentation

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