UK-based software developer Planixs has introduced a new tool to enable smaller banks to manage intraday liquidity risks.

Dubbed Realiti Essentials, the new tool will also help smaller lenders to comply with the associated regulatory requirements.

The solution includes configured version of Planixs’ Intraday Liquidity Management module, Regulatory Reporting suite, and Intraday Stress Modelling solution.

It uses standard SWIFT intraday statements from correspondent banks to provide an intraday regulatory compliance response.

Additionally, the banks can use the Planixs solution to conduct stress testing of liquidity under different scenarios.

Realiti Essentials will be available to the lenders as a SaaS for a fixed monthly fee.

With this solution, Planixs seeks to cater to smaller banks which lack the capacity to develop an in-house solution or purchase an external enterprise liquidity solution.

The banks can implement the solution in a few weeks without affecting its existing IT infrastructures, the company claims.

Planixs CEO Neville Roberts said: “We have listened to our smaller bank customers and recognised that whilst their regulatory needs are the same as the larger banks, their budgetary constraints prevent the investment in an enterprise liquidity solution.

“Our launch of Realiti Essentials addresses this challenge and will enable any bank or financial institution of even the smallest size to become regulatory compliant and manage their liquidity using the lowest cost solution in the marketplace.”