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Our Unique Approach

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Overview

EVOLV's architecture and deployment methodology has been designed to enable financial institutions maximum flexibility, scalability, extensibility, and future adaptability. While other software vendors attempt to solve these problems individually, no other provider approaches the solution the way Primatics does – by building a foundational set of core software services that fits with a financial institution’s current financial systems architecture and enables any solution to leverage the same data architecture, calculation engines, reporting framework, and workflow orchestration.

Solutions built upon the EVOLV Platform have distinct advantages over standalone point solutions:

  • They leverage EVOLV's SMART Data framework, resulting in shared access to the identical normalized and controlled data set loaded into the platform from upstream sources
  • They integrate tightly with each other, such that outputs from credit and risk processes are directly consumed by finance processes
  • They use the same data model and reporting framework, such that all attributes and results are associated and reportable across the portfolio – even across solutions that view a loan through different sets of attributes
  • They all scale as your portfolio grows, because every solution built upon the EVOLV platform utilizes its powerful cloud-computing framework for processing large data sets quickly

EVOLV's open-ended and extensible architecture includes a number of unique features that differentiate it from static point-solutions:

  • A multi-faceted data model that both computes and captures multiple views of the same data without making copies, hence ensuring consistency, but also satisfying the needs of every constituent of its view of the same information.
  • A rich and extensible data model that captures financial instrument attributes spanning all finance and risk work streams that require instrument-level data
  • A unified reporting and analytics framework that lets credit, finance, and tax views of the world share the same underlying portfolio data and business calculation results
  • A modern, Software-as-a-Service (SaaS) delivery model that provides timely, regularly scheduled new features and functions
  • Pervasive grid computing technology that leverages a utility computing model to minimize infrastructure costs while enabling scalability to the largest of portfolios across all processes implemented on the platform
  • Toolkits and API's for customizing and extending core functionality and integrating EVOLV within the context of larger operational business processes
  • Out-of-the-box integration with popular upstream and downstream enterprise applications

This architecture fits seamlessly with a financial institution’s overall financial systems architecture and leads to better integration, scalability across all processes, and a faster response to changing requirements.

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Common Financial Instrument Engines

While other platform providers may provide generic toolsets for users to operate, EVOLV contains five core "engines" that are specific to addressing any process relating to financial instruments ("FI's"). The engines represent the "lowest common denominator" of capabilities needed by financial institutions to address current and future needs relating to their FI's, or loans.

  • Event Engine: This engine is built around the concept of responding and processing against identified FI  lifecycle events such as payments, draws, exits, charge-offs, or modifications to name a few.  EVOLV understands how the combination of events within the lifecycle warrants certain calculations to be applied.Learn More
  • Workflow Engine:  EVOLV fits into the business processes of a financial institution by providing workflow orchestration hooks that allows EVOLV to be driven and controlled by a larger workflow process such as initiate data loads, kick off accounting or forecasting runs, receive notifications and alerts and assign users to review and approve results.Learn More
  • Calculations Engine:  EVOLV can easily express mathematical computations, both simple and highly complex (including a robust model execution capability), in one central area that is already integrated with all the other engines.  This enable EVOLV to adapt very quickly to changes.Learn More
  • Sub-ledger Engine:  EVOLV maintains a sub-ledger system where all entries are tracked against a series of natural accounts.  EVOLV's unique sub-ledger architecture not only represents accounting entries, but maintains parallel views of all balances from the borrower, servicing, accounting, and tax perspectives. Learn More
  • Reporting Engine:  This engine seamlessly integrates with EVOLV's data capture layer within SMART Data.  Users gain direct access to the underlying data model enabling users to perform ad hoc reporting, dash-boarding, drill-downs, and multi-dimensional analytics.  EVOLV smartly organizes risk and finance information at the FI level enabling automation of all reporting needs.Learn More
Event Engine

This engine is built around the concept of responding and processing against identified FI lifecycle events such as payments, draws, exits, charge-offs, or modifications to name a few. EVOLV understands how the combination of events within the life cycle warrants certain calculations to be applied.

Workflow Engine

Workflow EngineEVOLV fits into business process of a financial institution by providing workflow orchestration hooks that allows EVOLV to be driven and controlled by a larger workflow process such as initiate data loads, kick off accounting or forecasting runs, recieving notification and alerts and assign users to review and approve results.

Calculations Engines

EVOLV can easily express mathematical computations, both simple and highly complex (including a robust model execution capacity), in one central area that is already integrated with all the other engiens. This enable EVOLV to adapt very quickly to changes.

Sub-ledger Engine

EVOLV maintains a sub-ledger system where all entries are tracked against a series of natural accounts. EVOLV's unique sub-ledger architecture not only represents accounting entries, but maintain parallel views of all balances from borrower, servicing accounting, and tax perspectives.

Reporting Engine

This engine seamlessly integrates with EVOLV SMART Data. Users gain direct access to the underlying data model enabling users to perform adhoc reporting, dash-boarding, drill-downs, and multi-dimensional analytics. EVOVL smartly organizes risk and finance information at the FI level enabling automation of all reporting needs.

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Vertical SaaS

EVOLV is considered a Vertical Software-as-a-Service ("SaaS") Solution. In contrast to SaaS, Vertical SaaS providers like Primatics focus on building solutions that are industry-specific and designed to address key common customer concerns. At Primatics, we are focused on financial institutions and accordingly our SaaS infrastructure is to designed to (a) meet data privacy concerns and implementing best-in-class data segregation controls; (b) provide Real Functional service level agreements (SLAs) such as uptimes and quality of service; (c) satisfy banking compliance needs; and (d) provide extension points and a deep Integration framework to meet individualized needs.

EVOLV is a Vertical SaaS application built to solve functional needs of the financial services industry. It is an open and extensible platform that is architected to be domain-aware. The platform provides:

  • A robust security model that mirrors the business/functional units within financial institutions. The platform implements audit controls such as Data Segregation, Role-based access levels, Access Control Lists and password policies that are in-line with the needs of financial institutions and complies with third party auditor requirements;
  • Functional and non-functional SLAs based on individual customers’ needs. EVOLV’s Quality of Service (QoS) module includes a policy-based algorithm that manages the shared resources across the platform and adjusts the computing resources to keep the applications running at the performance levels needed by each individual customer;
  • The ability to adhere to ever-changing, complex and very specific control and audit requirements put forth on a regular basis from various regulatory and oversight bodies;
  • Several extension and integration points with financial institutions’ internal IT systems. The integration points allow customers to extend the capabilities of EVOLV through a REST API along with proprietary code development and deployment tools.

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Controls & Security

EVOLV has been architected from the ground up to solve for the rapidly evolving software needs of one of the most heavily regulated and security-sensitive industries in the world: financial services. Our distinct platform is secure and extremely scalable by design.

Security is about trust. Primatics understands that security is a top concern for our customers and that they are mandated to ensure independent verification of all security and control procedures on a regular basis to satisfy their shareholders and regulators. Primatics employs third-party certifications and audits including annual SOC 1 Type II and SOC 2 Type II. Primatics supports and integrates with our customers’ controls and audit processes, providing them access to the information they need to ensure compliance.

Primatics’ security strategy provides comprehensive and state-of-the art technologies, processes and controls at multiple levels of data storage, access, and transfer. Below are the key components of this security and controls strategy:

Compliance and Controls

Primatics takes every precaution to make sure your confidential information stays that way.

  • Primatics maintains strict adherence to the appropriate regulatory frameworks and audit requirements including Committee of Sponsoring Organizations of the Treadway Commission (COSO), Gramm-Leach-Bliley Act and Sarbanes-Oxley (SOX);
  • External auditing provided by a nationally recognized audit firm by means of SOC 1 Type II and SOC 2 Type II reports;
  • Third party vendor management governance to meet regulatory standards.

Comprehensive Network Security, Reporting, Logging, and Audit Trails

Tracking account activity, file access, settings changes and nearly everything else that occurs in EVOLV.

  • Primatics uses Federal Information Processing Standard (FIPS) 140-2 certified hardware which includes routers and network devices that monitor and control communication at critical internal and external boundaries using an access control list (ACL) and various rule sets;
  • Restricted IP addresses (whitelist) network security strategy is employed that only allows access from pre-screened designated client networks;
  • Host-Based Intrusion Detection Systems (HIDS) and Network-Based Intrusion Detection Systems (NIDS) which monitor all activities including login, file changes, table changes, disk space and suspicious activities;
  • Reporting and audit trails via detailed reports and integrated events into SIEM and BI applications;
  • Proven incident management program and processes enforce employee incident reporting, as well as periodic reviews of all incidents and analysis of re-occurring or high impact incidences;
  • Independent third party assessments of our firewall and vulnerability tests performed on a regular basis.

Control Access, Authentication and Authorization

Comprehensive security roles and permissions to ensure that the right people have the right level of access.

  • Strong Authentication through industry-standard password strength requirements, resets, failed logins, session duration, two-factor authentication, and single sign-on integration;
  • Granular authentication and authorization through permissions-based role security that provides users with the appropriate level of access;
  • EVOLV adheres to the principle of “least privilege” such that authorized users will not have access beyond the permissions required to perform their authorized job functions;
  • Accounts are reviewed every 90 days and any inactive accounts are revoked unless explicitly re-approved.

Data: Encryption and Protection

EVOLV protects the confidentiality and integrity of your data in transit and at rest.

  • Layered encryption in transfer with high-grade SSL / TLS and multi-layered encryption at rest with 256-bit AES and 3DES. Encryption keys are securely stored in separate locations and regularly rotated;
  • Complete logical segregation of all customer data and information throughout the stack;
  • Data integrity versioning, deletion and expiration controls protect the integrity of your content;
  • The Leading Data Loss Prevention suite protects your confidential data from loss and theft and helps comply with privacy and regulatory regulations;
  • Virtual desktop infrastructure (VDI) provides secure access to authorized Primatics’ employees to interact with EVOLV in a controlled, monitored and protected manner;
  • Industry standard data masking algorithms are used to hide sensitive information;
  • Dedicated security team to conduct software testing and ensure the quality of the software.

Data Center Security and Availability

Primatics uses multiple data centers to build redundancy into EVOLV. All data centers employ a variety of secure mechanisms, including strict access policies plus secure vaults and cages.

  • Our secure data centers use biometric entry authentication, closed-circuit video monitoring and 24/7 armed guards;
  • Complete system redundancy (N+1 or greater redundancy) for all network components and system components with uninterruptible power and backup systems as well as fire/flood detection and prevention;
  • Best in class disaster recovery technology and strategy meeting or exceeding four hour Recovery Time Objectives (RTO) and Recovery Point Objectives (RPO) for all production systems and components;
  • Nightly backups of all systems to a secure offsite geographically diverse location;
  • The data is encrypted and replicated to two different geographical locations to ensure that any disaster would not jeopardize the data or its integrity;
  • Backups are always monitored and periodically restored and checked to ensure data integrity;
  • Transparent system and component status and SLA status available 24/7/365 directly through the EVOLV interface.

Security comes down to trust: trust in the people, the processes and the technologies with a full understanding of the security challenges with which financial services companies are faced. Primatics has a proven security track record with a clientele list representing half of the top 25 banks and 60 clients overall in the highly regulated financial services market. The security architecture of Primatics is designed to be agile and responsive to the ever-changing regulatory environment of the financial industry.

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Customizing & Extending EVOLV®

EVOLV has been architected to "fit" within a financial institutions overall financial systems architecture. Client can customize aspects of EVOLV and extend EVOLV's capabilities through the same Platform Engines that Primatics uses to develop its solutions.

Customizable Rule-based Data Validation, Transformation, and Enrichment

EVOLV's integrated business rule engine allows automated, real-time transformation of incoming data as it enters the system. This is a key feature in EVOLV SMART Data that allows incoming source data to be cleansed and transformed as it is loaded, preparing it for downstream processing. Turbo-charge your data preparation process by fully-automating all data load and transformation steps, all in an intuitive rule-based language that eliminates the need to build custom ETL processes.

  • Build, test, and deploy custom data rules that enrich, clean, and transform attributes prior to processing and reporting;
  • Eliminate time-consuming and error-prone manual edits and apply automated data assumptions in a controlled and audited data management environment;
  • Validate incoming data and generate exceptions for operational error reports;
  • Apply business rules that tag data for downstream processing such as identifying events for non-accrual / re-accrual transitions, TDR's, and defaults;
  • Normalize data from disparate upstream source systems, mapping it to standard reference data and custom reporting hierarchies.

Dynamic Reporting

With EVOLV SMART Data, users can leverage the platform's rich data model to construct custom reports and dashboards directly within the web browser interface. Extend EVOLV's existing reports or create new ones from scratch to deliver exactly the intelligence your organization needs to manage operations, satisfy compliance requirements, and gain insight into your business.

  • Over 3,000 attributes and business calculations available out-of-the-box for reporting, including loan contract and characteristic data, balance components, model and finance calculation metrics, and credit attributes;
  • Define custom reporting dimensions and hierarchies even after loading data;
  • Drill-down capability to the loan-level;
  • Export any report to PDF or Excel;
  • Automatically trigger creation and emailing of reports on a schedule;
  • Build or integrate external custom reporting applications from EVOLV's web services interface.

Model Integration

EVOLV is designed to host financial calculation models, distribute them across a scalable computing grid, and connect them with loan data on the platform. EVOLV's model integration API is a mechanism for plugging in and deploying any calculation model on the platform. Whether it's our models, your models, or a third-party model, EVOLV can execute your complex business calculations in a scalable, controlled, and audited computing environment on the right population of instruments.

Through the model API, independently-developed calculation models can generate and discount cash flows, apply loss-curve vectors, manage macroeconomic assumptions and model inputs, and access loan-level attributes stored on the platform. This flexible architecture allows multiple models to be hosted and executed side-by-side with results easily compared, facilitating attribution and sensitivity analysis, scenario analysis, stress testing, new business forecasting, and challenger model comparisons.

Models developed with the EVOLV model API can take advantage of the platform's management of input attributes and output results. EVOLV models are pure calculation engines – the platform provides database and transaction management, assumption and model input management, distribution and scaling, and storage and reporting of results.

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