| Description |
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CORPORATE OFFICE, THRISSUR
DEPARTMENT: INFORMATION TECHNOLOGY
Tender No: Tender/020/2023-24 Dated : 14 March 2024
Tender Notice: Technological Solutions for Internal Compliance Monitoring
Dhanlaxmi Bank, a leading financial institution in India, is seeking proposals from qualified
firms/consultants to deploy comprehensive, integrated, enterprise-wide and workflowbased solutions/tools to enhance the effectiveness of the compliance function in alignment
with the requirements outlined in RBI Circular RBI/2023-24/117
DoS.CO.CSITEG.SEC.No.9/31-01-015/2023-24 dated January 31, 2024
Scope of Work
The scope of work for this engagement includes, but is not limited to, the following:
▪ Implement comprehensive, integrated, enterprise-wide and workflow-based
solutions/tools to enhance the effectiveness of the compliance function.
▪ The tool should provide effective communication and collaboration among all
stakeholders by bringing business, compliance, IT Teams, senior management etc., into
one platform.
▪ The solution should have processes for identifying, assessing, monitoring and managing
compliance requirements, escalating issues for non-compliance
▪ The tool should require recording approval from the competent authority for
deviations/delays in compliance submission.
▪ It should have a unified dashboard view for senior management on the compliance
position of the Bank.
▪ The Framework for the compliance monitoring technology should have the belowmentioned key elements:-
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✓ Restricted access - Compliance/issues should be mapped to specific Lines of
business and users. Individuals can only access information permitted to them as
per their role.
✓ Compliance Risk Assessment: The system should have the ability to build out
the methodology of the Bank to perform compliance risk assessment and provide
input into the Compliance Testing Plan
✓ Multiple workflow –
o Lines of business can perform self-assessments to report compliance with
regulatory and statutory obligations, remediations, etc.
o The maker checker workflow is used to ensure the highest level of accuracy.
o Compliance and Audit will have independent access to review work done by
Business.
✓ Document management – The system should be able to store documents in
classified formats. Accessible search functionalities will help retrieve the
document with simple clicks. Access can be defined at each document level.
✓ Issue management – The system should be able to store issues related to
Compliance Breaches identified during testing and findings identified from other
assessments. Business owners should be able to obtain a hierarchal view of
enterprise-wide issues via remediation implementation plans.
✓ Manage ad-hoc requests – The system should be able to manage ad-hoc requests
from the regulator through a workflow.
Eligibility Criteria:
Interested vendors should meet the following eligibility criteria to participate in this tender:
• Demonstrated experience in developing and implementing Intranet Applications for
financial institutions, preferably Banks.
• A team with expertise in relevant technologies, including but not limited to web
development, security protocols, and database management.
• A registered and established company with a minimum of 3 years of operation.
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• Financial stability and ability to provide support and maintenance services.
• The vendor should have a proven track record of delivering projects on time and within
budget.
• Provide references from previous clients with similar project requirements.
• The vendor should have the technical expertise and resources to develop a secure and
scalable application.
Tender Submission:
Interested vendors are requested to submit their tenders in a sealed envelope clearly marked as
"Technological Solutions for Internal Compliance Monitoring " along with the following
documents:
• Company profile, including information about previous projects and clients.
• Details of technical expertise and qualifications of key personnel.
• Financial proposal outlining the cost of development, implementation, and support.
• Valid copies of licenses and registrations.
The sealed envelope should be addressed to:
Bank’s Address for
Communication
Head-IT & Digital Banking
IT Department, 5
th
Floor, Corporate Office
Dhanlaxmi Bank, Punkunnam, Thrissur,
Kerala – 680002
E-mail for Submission of
Tender and Clarifications.
hoits@dhanbank.co.in
Date of Issue March 14, 2024
Last Date of submission of
RFP/Tender response
March 20, 2024
The tender submission should reach the above address not later than 20-03-2023 at 6 PM. Late
submissions will not be considered.
Tender Evaluation:
Tenders will be evaluated based on the following criteria:
• Technical expertise and experience of the vendor.
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• Compliance with the specified scope of work.
• Cost-effectiveness of the proposal.
• Ability to deliver the project within the specified timeframe.
• Quality of previous work and client references.
Dhanlaxmi Bank Ltd reserves the right to reject any or all tenders without assigning any reason
thereof. The decision of Dhanlaxmi Bank will be final and binding.
For any clarifications or inquiries, please contact:
Contact Details
Mrs. Radhika R
Compliance Department,
Corporate Office,
Thrissur Kerala-680002
Mob : 9539004423
Landline: 04877107301
Mr. Binesh Kurup
IT Department,
Corporate Office
Thrissur Kerala-680002
Mob : 9539007448
Phone:04877107508 |