Banking Solution

RnD Center for BFSI Sector, RISE Group, IIT Madras

Vertical Solution for Banks

Vertical components required for a Bank’s MIS reporting, decision making processes and analytics are one of the
first deliverables.

Specialized modules like Fraud management and AML modules are also under development.

While processes will naturally vary from bank to bank, the modules will provide a canonical framework that can be customized for each bank.

Components of FINAL for Banking

The banking framework divides a typical banking computing setup into three stages.

1. The core transaction applications  like Core Banking, Internet banking, ALM, RTGS, Mobile banking etc.

2. A staging cluster for  data aggregation from all the core
applications, which acts as a universal store.

3. An analytics and DW stage which derives data from the staging cluster to provide large scale analytics.

As one progresses from stage 1 to 2 and to 3, one can observe a decrease in the granularity of the data and a certain loss of information due to increased levels of data aggregation.

The framework also is a full fledged platform for a bank to develop new applications like risk management and marketing programs.

Proof of Concept (PoC)

As a POC, a prototype is near completion for a mid sized bank with the data being pulled from a leading Core Banking package and other systems like ALM.

The prototype will demonstrate the viability of basing a typical bank’s MIS requirements and RBI reporting requirements apart from other ad-hoc reporting on Finlibre’s Final stack.

Adaptor’s for various core banking systems and other transaction data sources will be developed over a period of time allowing comprehensive support for most data sources.

Open Source

FT @ RISE Group will incubate and host a variety of BFSI centric open source projects.

Our First Project

The first project aims to provide a comprehensive analytics and decision making
framework for the Banking and Insurance sectors.


Funding for the first project is
through CSR grants from City Union Bank Ltd.


We welcome every organization in BFSI sector to participate and reap the collective benefits.