Challenge
Key challenges for BFSI firms in business record management include complying with legal and regulatory policies, and siloed information. The volumes generated have increased along with cost of recovering misfiled documents, calling for robust document record management systems. Auditors and investigators are looking for accuracy in compliance reporting functions. Financial firms need to adopt complex record keeping and information sharing processes.

Solution
TCS BRM Solution framework can help plan and implement Business Records Management system to achieve legal and regulatory compliance and enhanced reporting. Key features include:

• Metadata Enrichment Model – Solution framework to achieve metadata enrichment
• Chain of Custody – Validation of records across the lifecycle
• Automated records classification and onboarding- AI & NLP based algorithm for records classification, taxonomy integration & an automated onboarding of new feeds
• Information model – Approach and considerations for building information model for record lifecycle management
• Records lineage – Enable integration, enriching and tracing the metadata without impacting the original records
• Data architecture – Solution framework for overall data architecture part of the BRM solution

Benefits

• Platform Agnostic Solution Framework
• Process any type (structured/unstructured) and form (physical/digital) of information
• AI & NLP for maximum automation
• Utmost focus on regulatory compliance requirements including audit and investigations
• Automated feed on-boarding
• Leveraging years of experience
• Faster time to market
• 100% auditability of the information