TORONTO, Canada, June 15, 2015 (GLOBE NEWSWIRE) -- via PRWEB - Vena Solutions, the fastest growing provider of Dodd-Frank Act Stress Tests (DFAST) and Comprehensive Capital Analysis and Review (CCAR) software, announced today that multiple US and global banks have deployed its CCAR / DFAST solution to improve the efficiency and accuracy of CCAR and DFAST submissions.
Vena is now involved in CCAR / DFAST submissions at banks whose total combined assets exceed $1.3 trillion dollars.
CCAR and DFAST are annual mandated exercises that help the Federal Reserve assess whether bank holding companies operating in the United States have sufficient capital to continue operations in times of economic and financial stress.
Vena's CCAR / DFAST solution combines native Microsoft Excel® with a centralized, in-memory database and powerful workflow management, delivering agility and flexibility and giving users control over the whole process. Vena:
- Facilitates data collection at a level more granular than FR Y-14A and supports the collection of data at alternate (business/management) views of data. With Vena, data can be collected once and shared across any number of models, as required.
- Supports XML file creation for FR Y-14A submissions.
- Validates the FRB's edit checks catching errors early in the process and ensuring the submission is error-free.
- Delivers role-based security.
- Includes a full audit trail.
- Leverages the Federal Reserve Bank's (FRB) Micro Data Reference Manual (MDRM) codes.
As a result, banks continue to work in a familiar Excel environment while gaining more insight into and control over CCAR and DFAST data collection, data aggregation and filing processes.
"Bank executives understand the challenges with CCAR and DFAST compliance and the stress it puts on their organization," explains Don Mal, CEO of Vena Solutions. "That's why most are investing in CCAR / DFAST software to ensure the accuracy of their submissions and the efficiency of their processes."
For more information about Vena's CCAR and DFAST solutions, visit Vena's website or register for a demonstration webinar scheduled for Thursday July 23 at 2pm Eastern time.
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Vena Solutions Paul Sial +1 1 855 207 1770 Ext: 214
