Description:

Reviewing accounting flows is a key activity for a successful project. If an accounting flow is properly defined, operations will be settled correctly. Proper ventilation and the right accounting scheme are crucial for ensuring project delivery on time and avoiding last-minute catastrophes.

Luxat can:

• Prepare an asset/liability balance sheet for each process.
• Offer advice and identify weaknesses in your accounting
  scheme.
• Ensure proper ventilation for legal reporting.
• Review project specifications and incorporate a balance
  sheet chart .
• Examine mapping for WKFS and your general ledger.
• Review its own book setup to ensure compliance with
  either LUX GAAP or IFRS 9 rules.

Description:

As you accumulate more data within your core banking system, the need for a powerful Business Intelligence (BI) solution becomes increasingly evident. While Luxat possesses expertise in SQL, our unique value in this domain lies in effective data mapping. Calculating this value efficiently without compromising performance is a common challenge. This is where our expertise comes into play, assisting clients in saving hours of time that would otherwise be spent waiting for the system to respond to a query.

Luxat can:

• Analyze your processes and create Business Requirement
• Documents (BRD), Functional Specification Documents
• (FSD), and Technical Specification Documents (TSD) for
• your new core banking system.
• Examine your processes to identify any manual tasks. For
  each manual task, assess the time required for
  completion. This analysis will aid management in
  deciding whether to automate these tasks or not.
• Evaluate offers from third parties and ensure they align
  with the specific needs of the bank.
• Prepare documentation on your processes, providing a
  comprehensive understanding of the workflow.
• Document your application landscape, offering a detailed
  overview of the applications in use.

Description:

Under the processes review activity, the primary objectives include identifying key processes that can be optimized or automated to concentrate on essential value-added activities. This involves analyzing the cost versus the benefit of potential projects and reviewing offers from IT counterparts to determine the most suitable solutions.

The Business Analyst plays a pivotal role in bridging the gap between business objectives and IT solutions.

Luxat can:

• Assist your Business Intelligence team in locating
  accurate information within your core banking system.
• Define all scenarios for Business Intelligence queries.
• Analyze and optimize the archiving process within your
  Business Intelligence system to prevent any slowdown in
  queries.
• Develop and implement new queries in your Business
  Intelligence, tailored to extract meaningful insights from
  your data.

Description:

Our expertise in project readiness assessment and our commitment in staying up to date with new regulation position us to guide clients through the expectations of Dora throughout the project lifecycle. Luxat can review project implementation and see if it complies with Dora regulation. We can also help the bank to be ready to handle dora on time.

Luxat can:

• Review documentation including risk assessment, Target operation model, control of accesses, list of user.
• Define critical processesand map dependencies.
• Evaluate project implementation and offer
  recommendations for enhancing documentation to align
  with Dora standards.
• Examine the ticketing system to ensure compliance with
  prevalent incident and change management processes,
  following ITIL (Information Technology Infrastructure
  Library) practices.
• Verify that no passwords are stored within any processes,
  such as JBoss and SQL Loader.
• Make sure scrambling procedure is defined for all
  sensitive information.
• Categorize critical functionalities and identify
  dependencies on both your software and third-party.

Description:

Ensure your legal reporting is in good hands. We offer support in data mapping for BOP, CDDP, FINREP, COREP, ALMM, S01, MIFIR, ANACREDIT, and EMIR. Luxat has 7 years of experience working with the WKFS tool. This activity also includes ensuring that all data is accurately mapped in the right boxes.

Luxat can:

• Review L0/L2 files and business requirement.
• Add fields in existing L0/L2 files.
• Create new amount type file.
• Conduct testing for changes in L0/L2 files.
• Write specification to update core banking process and
  business intelligence (BI) processes.
• For T24 and BI exclusively, Luxat has the capability to
  implement changes in L0/L2 files, ensuring seamless
  execution of enhancements and updates.

Description:

Accounting services are occasionally overwhelmed by production activity, particularly following a major IT change. Reconciliation is a critical activity that can quickly spiral out of control, leading to catastrophic impacts if not addressed promptly. The longer a reconciliation issue persists, the more challenging it becomes to rectify, bringing us closer to a critical incident. Luxat has worked on numerous reconciliation issues, ranging from credit card reconciliations to rebuilding balance sheets. Our team excels in restoring fundamental operations, ensuring that credits and debits balance to zero, foreign currency positions are accurate, inter-company transactions are reconciled, and internal accounts are under control.

Luxat can:

• Establish an external database for data verification
• purposes.
• Conduct a comprehensive analysis of your data,
  classifying various issue types for clarity and resolution.
• Develop procedures to fortify the bank reconciliation
  process, enhancing accuracy and efficiency.
• Identify weaknesses in existing processes through
  assessment.
• Provide tools that the bank can independently utilize for
  future use, which may involve licensing external software
  for high-volume requirements.