RM Applications Sdn. Bhd. (RMA) is a MSC Status boutique software company based out of Kuala Lumpur (Malaysia). RMA is founded by a group of experienced professional with a thought “Why it Can’t be Done”. This is where the journey of RMA begins to venture into development oh bespoke solutions to address the pain points, niche requirements, which can’t be addressed through off the shelf solutions. RMA specializes in offering bespoke solutions in the area of Digitalization and Data Management Landscape.
RMA started its journey as a delivery-oriented system integration company and later went on to be a provider of end-to-end bespoke business driven technology solutions for Conventional and Islamic Financial Institutions in South East Asia region. The company successfully delivers leading edge technology solutions in diverse areas such as Digital Remittance & Payments, ALM & Liquidity Reporting Data Mart, Data Management (ETL) Consulting & Development, Bespoke Data Mart, Regulatory Reporting, Localization and integration of Partners’ Solutions.
BI & Data Management Offerings from RMA
Bespoke DataMart Development: Developing bespoke data marts, which were fast, easier and deliver more value by serving the purpose of Clients i.e. makes the semi processed data available, which can be directly fed into the Risk and Regulatory Reporting engine to generate the reports and for analytics in the area of ALM (Asset Liability Management), AMLA (Anti Money Laundering), Basel 3 (Liquidity Coverage Ratio – LCR & Net Stable Funding Ratio – NSFR), FTP (Fund Transfer pricing), IFRS9/MFRS9, IRRBB (Interest Rate Risk in the Banking Book) and Other Regulatory Reporting Data Mart.
Analytics, BI & Reports Development: Development of customized Reporting, Dashboards & Alerting solution for various Business Verticals largely in the area of Compliance such as ALM, Basel 3 Liquidity (LCR / NSFR), AMLA, CRS (Common Reporting Standards), Regulatory and Management Reporting.
Data Migration: Data Migration for migrating data to and from most widely used commercial databases, which could be homogeneous or heterogeneous.
Pioneer of RM Applications
Lokesh Gupta is attached to RM Applications (www.rma.com.my) as the Cofounder and Heading the Solution and Delivery division. He is having seventeen years of experiences in Financial Solution Consulting, Regulatory Reporting and Project management. Currently, he is involved in Asset Liability Management, Basel III, Risk and Regulatory Reporting Data mart Development as well as Remittance & Payments Solution implementations in the region. He has worked as a domain expert for various projects such as Islamic Financing, financial payments solution, and AutoTech. He has also co-authored four books in Islamic Finance and has published papers in various magazines.
Lokesh is a firm believer of being a ‘Doer’, as he always remains ready to jump in, explore options, work hard and like to get involved in finding solutions. He has been a driver for a bespoke solution. According to him, the workable strategy for it is to analyze “As Is”, which could gain insight into the manual or partly automated process and then sketch out “To Be”, how one think it ought to work.
He acknowledges that business is all about ‘relationships’ and ‘trust’ which got to be earned and nobody can’t just demand it. His core strategy is to collaborate with clients and have their continuous feedback to design and deliver solutions that meets their expectation and industry demand. Beyond tailored solution delivery, he takes customer support very seriously, which is very important to address the pain points, which may arise due to operation and business as usual activities.
Strategies for Success
RMA is focusing on expanding skill set and know how in the area of Big Data technology. From financial industry persay ‘R’ and ‘Python’ is picking up especially in the area of Data Modelling and Reporting. RMA is now strengthening its skill set on ‘R’ Modelling as it will be helpful in crunching the data and building up Data Models especially in the area of Credit Risk, Liquidity, Basel and Regulatory reporting such as MFRS9/IFRS9. This is the way to go and RMA has already started walking on this path and also developing skill set in the area of Big data. In addition, RMA has also started developing skills on upcoming open source databases like MongoDB and the company is exploring of using MongoDB for its existing Solutions.
Benefits for RMA Customers
The team RMA also call themselves as RMATEs listen to what customers want, get insights into their expectations and accordingly design and deliver the solutions. They believe in building a simple and customer driven solutions with emphasis on digitalization of data, workflow process, reporting, etc. Beyond their solution delivery, they take customer support very seriously, which is important post implementation. Also, the RMATEs is continuously upgrading their skillsets and products based on the latest technology to provide value add services to the clients.
The RMA’s ambition is continuing to be expansive both in terms of the broader product offerings and broader regional expansion.
Also, team RMA wants to see themselves as a company that is providing advanced, innovative and value-added solution in the remittance/payments and data management landscape leveraging on Big Data technology. They want to achieve a position where they are providing digital technology driven solutions to move away from cash based payments to digital payments using advance hybrid technology with QR Based, Blockchain and using Digital Assets as a method of processing remittance and payments.
The company is expanding globally with building its presence in regions such as Indonesia, Singapore, and Thailand, where they do have some ongoing engagement with clients.