Vault Core’s integration to InsightSoftware

At a glance
Insightsoftware and Thought Machine have partnered to give banks increased agility, transparency, control and insight by automating their accounting inline with standard regulation.
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The challenge

Today banking infrastructure is siloed, meaning it lacks the agility to translate granular transactional data that core banking systems produce. This makes it harder for banks to create detailed and controlled regulatory and management reports like financial statements.

The solution

The integration between Vault Core and FastPost enables banks to ingest financial data, in real-time at transaction level, with an audit trail and segmentation to fulfil the dimensions required for statutory and regulatory reporting. It does this by decoupling transactional systems, streaming data in real-time using Kafka, and then aggregating and segmenting it for ease of use.


Increased Configurability

FastPost’s ‘no code’ accounting rules enable new products and reporting standards to be configured and implemented quickly and with no need for specialist programming skills. FastPost also provides clear transparency and traceability across the data it processes, from the balances that it sends to the general ledger back to the inputs it receives from the source systems.

Data Segmentation

Finally, FastPost breaks down the balances that it maintains into segments, which enable users to slice and dice the results along multiple configurable dimensions. This provides the granular data needed both to produce regulatory reports and provide business insight.

Agility, transparency, control and insight

Finance teams can take control of the accounting process in a centralised environment using FastPost No-Code/Low-Code Accounting Rules capabilities. All accounting details are available at transaction level with a detailed audit trail.

FastPost's multidimensional sub-ledger improves the quality and depth of the insights generated.

How the solution works

This solution is delivered using open-source technology that supports high performance in-memory processing. The same technology provides adaptors that connect to a variety of data sources and targets. It is event-driven, receiving inputs from Vault Core and reference data systems and performing accounting for transactions and other events in the life cycle of financial products.

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