The Gambia Financial System has evolved rapidly over the last several years, and is markedly liberalized now. CBG wanted to access information from banks in real time to improve offsite and onsite supervision. They also wanted to facilitate the accurate and timely submission of statutory returns to their customer.
Valtech implemented complete automated supervision process through Valtech’s V-RegCoSS solution an end-to-end technology platform for banking supervision functionalities, which helped them to create completeness of returns /call reports as per guidelines by reduction of average time to create and submit prudential returns/call reports and number of defects per submission by financial institutions and also monitors the performance of financial institutions and assists in the enforcement of regulatory mechanism.
After implementing V-RegCoSS solution - effective supervisors, Directors, and the Executive Governing Council were provided complete supervision, surveillance, regulatory control at both onsite & offsite location. Effective management of “credit risks, foreign exchange’ and money laundering”.