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Bringing you news, views and analysis since 2013
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NRI Financial Solutions for Custodians goes live at Golomt Bank of Mongolia

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Nomura Research Institute’s (NRI) custody solution is now live with Golomt Bank of Mongolia.

In August 2014, Golomt Bank became the first custodian bank in Mongolia to obtain the Custody Operations license from the Mongolian Financial Regulatory Commission. The NRI Financial Solutions for Custodians has enabled the bank to establish a fully equipped custodian service offering tailored for a wide spectrum of financial activities with a comprehensive suite of products, services and tools. 
 
“We went through a careful process of evaluation of all the solution offerings by various vendors before deciding on the NRI Financial Solutions for Custodians,” says Zorig Gongorjav, Director of Custody Department at Golomt Bank. “We chose NRI for its robust, scalable, flexible and future-ready architecture as well as functionalities that include safekeeping of assets, securities settlement, corporate actions, client communication, cash and treasury management and many others. We are very pleased with the domain experts and experienced IT engineers from NRI Financial Technologies India. They made it possible to launch the solution within only three months by working closely with Golomt Bank personnel.”
 
The NRI Financial Solutions for Custodians, customised for the Mongolian market, combines the mature market sophistication of functionality and design with the flexibility required for emerging markets. Some of the salient features of the solution include:
 
Straight-through processing for trade capture
Real-time communication capability with Clearing Corporation, Depository & Clearing Banks for  settlement processing
Real-time balance updates
Auto matching & notifications
Supports SWIFT, XML, XLS and various other data formats
High-quality report generation
Support for a wide spectrum of both mandatory and voluntary corporate actions, with generation of notifications for entitlements and fail tracking
Configurable multi-level authorisation of reference data and transaction data
Robust and scalable infrastructure to handle high volumes and failovers
 
“We are thrilled to have been selected by such a leading progressive institution as Golomt Bank,” says Toru Watanabe, President, NRI Financial Technologies India. “NRI is committed to bring sophisticated technology solutions to emerging markets to provide robust and highly scalable platforms with the view that establishing world class IT infrastructure can boost investor confidence and fuel market growth.”

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