Finnova Management Suite

The Management Suite addresses needs in the area of integrated bank management, such as financial and company accounting, risk management, compliance, legal reporting and data analytics.

The Management Suite is the complete instrument for bank and risk management. It pools analyses and reports and in addition, its functionalities cover the ever-increasing compliance requirements in the banking sector. What is more, in the context of responsible bank management, comprehensive analytical tools are made available for clarification of diverse use cases, tasks and views.

Finnova Banking Software

Solutions for Smarter Banking

Strategic Focus
Digitalisation
Industrialisation, Standardisation
Data, Analytics & Compliance
Ecosystem

Finnova Banking Software

Solutions for Smarter Banking

Strategic Focus
Digitalisation
Data, Analytics & Compliance
Industrialisation, Standardisation
Ecosystem

Financial Accounting & Controlling

Postings from the transaction modules – such as Loans, Payment Transactions and Stock Exchange – are uniformly processed and managed via the centrally available Accounting System application. Postings can also be imported into the Finnova Banking Software via interfaces.

Balance sheets and income statements can be adjusted retroactively using supplementary entries. The so-called balance sheet cut-off date defines bank-specifically (per financial accounting location) up until when such postings should be permitted in a previous period. The balance sheet month can thereby be kept open in a flexible manner.

A function is available in the Accounting module that makes it possible to automatically create, post and retransfer deferred postings on the basis of budget or preview values.

In principle, the balance sheet, income statement and off-balance sheet are available online. Day-end processing (DEP) is performed. Multiple balance sheet structures can be used (multi-GAAP). The accounts and items can be assigned to one or more structures for determining income. The balance sheet and the income statement are based on Swiss accounting standards.

In the Accounting module, various evaluations can be triggered using rules entered with recurring events or by inclusion in the day- or month-end processing, automatically at a specific time or immediately. Alongside the ordinary balance sheet and income statement, the most important list types include the turnover and average balance sheet, structuring by domicile or structuring by currency. The inventories include various balance lists and help lists for minimum reserve requirements and deposit insurance. The VAT turnover and VAT input tax journals can be prepared and, if necessary, supplemented with manual corrections. Via various interfaces, the Finnova Banking Software provides third-party systems for processing jobs in the area of company accounting.

Finnova Services Offering: Finnova Control – Overhead Costs

The Overhead Costs module maps the costs of a bank proportionally. The functionality provides information about where real costs have been incurred and who is responsible for the costs. By means of detailed postings from main and subsidiary ledgers, internal cost allocations and cost apportionment of overhead costs, the bank can distribute the incurred costs over the various organisational units and cost centres. The end result is cost transparency for the bank in the form of a cost distribution sheet and cost type/cost centre accounting.

Finnova Services Offering: Finnova Control – Profitability

The Profitability module determines the key figures of the contribution margin accounting required for the statement of a bank's profit or loss at client, product and organisational unit level. On the income side, both income from interest-bearing transactions (including interest margin calculation) and fees and commissions are taken into account. On the expenditure side, the corresponding interest and commission expenditure as well as the incurred costs are taken into account. The Profitability module is the basis of a multi-level contribution margin accounting. Thanks to a high variability in the organisation of key figures while taking into account the individuality of the bank, it can be optimally served with a tailor-made solution. The result the bank obtains is a calculation of client and product profitability and a profit centre accounting.

Finnova Services Offering: Finnova Control – Net Cash Flow

The Net Cash Flow module calculates the inflows and outflows of business volume that are relevant to liquidity, client assets, client receivables and off-balance sheet positions of a bank over a defined period. It provides information about whether the business volume has increased or decreased on both the assets and liabilities side of the balance sheet and where exactly the inflows and outflows occurred. This module not only supports the bank in the fulfilment of regulatory requirements, but also delivers important key figures for strategic management to the bank management. The calculated figures can also be used for targeted personnel management. Finnova Services is developing solutions for the consistent determination of overhead costs and profitability. On this basis, we offer interested banks customised services solutions for effective bank management.

Risk & Compliance

If correctly implemented, bank regulations can support banks in the standardisation and industrialisation of processes. Finnova's solutions provide you with an effective basis for increasing efficiency.

Risk management The Finnova Banking Software's extensive risk management and simulation include the components Asset & Liability Management (ALM), own securities management and liquidity management, as well as the loan portfolio for an entire bank. Regarding risk control, Finnova draws on various third-party solutions via interfaces.

Compliance

Financial institutions' duties of disclosure and documentation are at the heart of the implemented FinSA provisions, alongside appropriateness and suitability assessments aiming to make sound investment decisions possible for bank clients. External hub providers for regulatory documents are connected to the Finnova Banking Software to ensure the availability of up-to-date key information documents on relevant financial products. A complete audit trail is ensured for all processes, for instance in the linking of the investment proposal with the advisory minutes and the resulting transactions.

National and international regulations

Finnova does not only implement Swiss regulations. It is possible to mark and classify clients as MiFID-relevant and to carry out shareholder identification in accordance with the Shareholder Rights Directive II (SRD II).

Compliance Workbench

With the Compliance Workbench (CWB), compliance managers are informed promptly, and in consolidated and compressed form, about critical processes within the bank. They can observe progress in the detection and dissolving of processes that do not conform with compliance, as well as the effectiveness of the elimination and prevention measures taken. The connection of the Finnova Compliance Filter makes it possible to check all incoming and outgoing payments before posting. Client master data can also be assessed and reviewed periodically during the opening and modification processes. This check consists of a matching of payment participants and client master information with any desired set of blacklists.

In addition to this, further static and dynamic rules can be quickly and simply configured using the Finnova Rule Designer. Suspicious financial transactions and client behaviour are analysed and detected, and undesired, high-risk client relationships or money laundering activities are identified and prevented in time by comparing client relationships with entries in embargo, sanction and PEP lists, as well as by means of risk-based profiling, and analyses of behaviour, peer groups and links. Suspicious transactions, business relationships or client profiles can be forwarded to the money laundering reporting office in the relevant XML format using the integrated MROS reporting function.

The Finnova Analytical Framework detects and prevents internal and external misuse and fraud by continuously analysing relevant indicia for their compliance conformity and presenting them in compressed form. The highest possible transparency, traceability and accuracy of the investigations and reports through optimised detection rates and minimised wrong detections are paramount here.

Finnova Services Offering: DWH Framework

Data warehousing for reporting and analytical CRM: Our DWH framework developed with customers is designed as a starting point for the analysis of existing Finnova data, and uses standardised interfaces. Depending on the customer's desired perspective, our analytical data services mainly focus on the identification of sales opportunities, the use of cost-saving potential and the integration of additional data resources for innovative big data analyses.

Regulatory Reporting

Up to now, regulatory requirements for equity capital reporting, risk diversification and market risks were met by ERIKA (from the German for 'equity capital, risk and concentrations application'). These requirements are now met by the BearingPoint FiRE interface. Selected reports are offered in the Finnova application, such as international revenue (bob Service), mortgage statistics (HYPO_B) and payment transactions statistics (ZAV7). For the creation of statistics for the SNB as well as supervisory, liquidity and interest risk reporting for FINMA, the Finnova software draws on various third-party solutions via interfaces. These will be further developed in case of new requirements from regulators or changes by providers. The data provided by the FIRE interface can be queried via a GUI in the Finnova Banking Software for quality control and audit purposes.

Analytics

Finnova has identified data analytics as one of the strategically important topics for the future of the Finnova Banking Software and relies on the systematic development of a uniform and cross-module analytical framework right across all specialist areas of a modern bank. The focus is on both efficient, lean fulfilment of existing and future regulatory and compliance requirements and optimisation of economic key figures, profit maximisation and cost reduction.

With progressive analytical approaches, Finnova relies on the use of unique and highly precise new-generation algorithms, which go far beyond the popular open source programming environments. This results in optimised and high-quality data processing and modelling results. The complexity of the analytical tasks and challenges and the fundamental challenges inherent to the system are not reduced here, but rather the handling of the sophisticated methods and approaches by means of fully automated processes.

Comprehensive banking topics like fraud detection and prevention, sales optimisation, client profiling and segmentation, dynamic stress tests and simulations, as well as processing of structured and unstructured data are only a few examples of the analytical tasks that are the focus of these developments.