eCosif: Central Bank accounting

• Grant number: 22/13578-0
• Support Opportunities: Research Grants - Innovative Research in Small Business - PIPE
• Start date: April 01, 2023
• End date: January 31, 2024
• Field of knowledge: Physical Sciences and Mathematics - Computer Science - Computer Systems
• Agreement: SEBRAE-SP
• Principal Investigator: Claudio Emanuel de Menezes
• Grantee: Claudio Emanuel de Menezes
• Company: Disoft Solutions S/A
• CNAE: Desenvolvimento de programas de computador sob encomenda ; Consultoria em tecnologia da informação
• City: São Paulo
• Associated researchers: Adalberto Caetano ; Adriano Abrantes de Andrade ; Carlos Alberto Oshiro ; Juliana de Oliveira Sacramento Goes ; Laudo Gonçalves

Abstract

Brazil consolidated itself in 2021 as one of the world's largest fintech ecosystems, and is already in the first position in Latin America. In the first half of 2022 the number of Brazilian fintechs reached 1,289 and the potential market is large. An important legal milestone is that, from 2023, fintechs should send monthly to the Central Bank (BC) the accounting of their financial operations, like traditional banks. The main problem is how to obtain information from various internal sources, consolidate it and send it, as the Central Bank requires. This process can be very costly and inefficient, given the small structure that fintechs usually have, since it involves absolute accuracy in information, IT environment with high availability and accounting knowledge that validates the information and crosses them, before sending. The combination of these three needs, information, technical environment and accounting knowledge is the problem that the project proposes to solve. In addition to these aspects, it should be added that the sale of software-as-a-product solutions is a declining market. Increasingly the market asks and accepts that another technology company provides the services using its own platform, in a model known as SaaS (Software as a Service). We intend, from this cloud platform, to direct our efforts in disseminating this form of accountability. Fintechs have a lower cost search profile and outsource part of their operations. We believe that our offer meets these two needs, since they will pay for launch and the platform will increasingly provide an essential service, accurately, but that is not in the core business of fintechs. Our strategy is to disseminate these attributes directly to fintechs, which today depend on specialized accounting offices. We need to further research this fintechs/accounting office relationship, and demonstrate that the platform has the potential to, in addition to informing the Central Bank, to make increasingly comprehensive analysis of fintechs' own business, from the accounting entries. The biggest challenge of the project is to allow a large volume of releases, received and processed from various sources: manual launch in the web system, integration via API, import of batch releases or even startup from Amazon MSK streaming service. A large volume of data is generated from the entry of the postings, and during the inclusion of the postings it is necessary to create measures capable of ensuring the integrity of the data, generating even larger volumes of data to be processed. Accounting and results processing and the audit process are the costliest elements that consume the largest system resources. To mitigate the large variation in consumption, escalation measures associated with a new individual processing optics have been created to address the central system problem: ensuring that the process is done quickly, safely, and without interruption that cause data loss. The process provides for parallel entry of postings from variable sources, which are organized and processed individually, offering real-time results of posting accounting and allowing the generation of balance sheets with the data immediately after posting processing. (AU)