Case Study:
Prêt d'Union chooses Synapse to control its credit risk and associated costs.
« Thanks to SysperTec we saved time and received a complete solution that allows us to both simplify and automate the processes we use to verify the borrowers' creditworthiness , and also to comply with various regulations. »
Download Prêt d’Union’s testimonial
New Audit Trail solution to comply with the Lagarde’s Law obligations
Following the new rules regarding consumer credit established by the Lagarde's Law, SysperTec has developped a new Audit Trail solution within its Syn@pse software suite (optimization of data collection and credit risk management). This solution allows all financial institutions to comply with the law and give evidence that they have actually accessed the FICP file well before granting any credit whatsoever. It helps establish, operate and view an audit trail and also includes mechanisms ensuring the non-alteration and safekeeping of all the collected data.
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Ensure compliance with the new regulation
To be consistent with this regulation, the audit ttrail is established over the FICP data collection. Additionnal elements are incorporated, necessary for the subsequent data management and statistics development, to better understand and analythe the credit granting process (operating statistics, business process analysis...).
LThe data security and the guarantee of its integrity are achieved thanks to different compliance check-points (Cyclic Redundancy Check). The data purging of the Audit Trail is secured via a Batch device.
Consulting the information from the Audit Trail is accessible to any third party application (internal audit and/or compliance dedicated applications for example...) via an Audit Connector. The consultation is done either by audit reference, or by submitting of several combined criteria.
Simplify the business processes
Simple to implement, this new module allows financial institutions to rely on a scalable and sustainable software solution (support, monitoring of regulatory changes...) to cope with the May 2011 ultimatum and be consistent with the new regulations.
This module is highly complementary to the Syn@pse's automation and optimization of data collection module, and can provide a global solution to address the financial institutions' business challenges while complying with the existing regulations.
Download the Audit Trail white paper (french only)
Case Study:
Groupama Banque uses Synapse to master their credit risk control process within the credit granting and account monitoring frame.
« SysperTec was able to successfully integrate Syn@pse within our automated line without interfering in any way with our users' work and without disrupting our business critical processes. Syn@pse is a stable and robust solution tha allows us to confidently manage our 20 000 monthly requests. »
Download Groupama Banque’s testimonial
A New Solution for FICP Changes
Stopping the monthly delivery of the FICP file and changing how reimbursement incidents are reported to the Banque de France are expected to cause an increase in FICP lookup costs
and require changes to bank and financial institution information systems.
To address these changes, SysperTec offers a solution that can adjust existing processes in compliance with the deadlines imposed by the new regulation.
This quickly implemented solution offers an immediate return on investment, thereby reducing reporting and consultation costs. It also helps to create an audit trail.
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The French government made two decisions to modernize the FICP to better reflect how people with past debt problems are doing:
- payment incidents will be reported over time, beginning in May 2010,
- the monthly copy of the FICP on CD-ROM will no longer be required, as of late 2010.
Besides the likely increase in Banque de France FICP lookup fees, these decisions impact financial institutions because they force them to rethink their credit risk management business applications and processes. There is relatively little time to implement these decisions, and at the same time, financial institutions must also migrate their secure means of accessing Banque de France data over Transpac X25 to the Mexic IP network.
To comply with this tight schedule, SysperTec's solution using the Syn@pse software is not very intrusive, yet it can adapt to all computer environments. Capable of integrating quickly into the existing computer system and credit management processes, it offers an immediate return on investment by reducing reporting and lookup fees, and it allows for the creation of an audit trail.
The solution addresses various needs:
- it introduces automated reporting and/or lookups with Syn@pse
- it allows FICP scores to be queried in real time via POBI or in batches by remote control, making it possible to tailor its collection system to each need, thus reducing costs
- it creates a local temporary FICP file to limit the number of hits to Banque de France (lowering costs) and to limit changes to the information system. This local file can also be used for other applications
- it integrates a multiple protocol conversion and communication gateway to facilitate data interchange with the Banque de France, while also integrating into business applications, regardless of the technical platform
- it creates an audit trail file that allows financial institutions to track questions and answers and remain in compliance with current legislation
