Rsquare Applied sciences Wins Regtech Recognition from Central Financial institution of Bahrain

Rsquare Applied sciences, a Bahrain-based Regtech, has received the Central Financial institution of Bahrain’s SuperNova 2021 ‘Regtech Innovation Problem’.

The Bahrain SuperNova Problem was launched by the Central Financial institution of Bahrain (CBB) with the intention to additional Bahrain’s Fintech trade’s improvement.

Rsquare Applied sciences is a resident of one among MENA’s largest Fintech Hubs, the Bahrain Fintech Bay, which is alleged to serve over 300 public and governmental entities throughout numerous key sectors, resembling insurance coverage, banking, training, and extra. Rsquare Applied sciences reportedly has developed 19+ Fintech options resembling E- Signatures, EICR, Straightforward Reconciliation, Compuform, CIS, HRMS & Payroll instruments.

EasyRecon, the tech that received the conscious, is one among RSquare’s software program options that has been operating at numerous monetary establishments as a reconciliation engine that converts, masses, and reconciles mechanically. The software program additionally gives customers with the reasoning behind the reconciliations, reduces human errors, and saves time that’s sometimes consumed by the lengthy and tedious course of.

Shanthini Raja, founder, Chairperson & CEO of Rsquare Applied sciences, commented:

“This has been such a rewarding journey for us, and we’re honored to have gained the successful title for the CBB’s Supernova Problem which displays our staff’s laborious work and underlying imaginative and prescient for the ecosystem. For the previous 11 years, now we have been creating options for the longer term that goes in the direction of strengthening the thriving trade inside the Kingdom. I wish to thank the Central Financial institution of Bahrain and all the important thing companions for giving us this chance, and particularly my staff which has tirelessly put their real efforts to steer this entrance inside the sector, particularly throughout a difficult time.”

Deepak Nair, CEO of BFC, mentioned that BFC has been utilizing Rsquare’s EICR for round 250 customers for the previous 6 years.

“Rsquare EICR has utterly automated the guide entry into our core system, with 100% accuracy, knowledge consistency and with elevated Velocity on the counters. Because it was a Robotic Automation Course of, it labored with all core system screens and templates, which left us with no integration challenges, it eased implementation and customization with much less IT intervention. Since It’s a Bahrain made product, the after gross sales service is at all times Strong and Dependable. Rsquare`s EICR is a really user-friendly, plug and play product which runs 24/7 effectively”