Fixed Asset Management
for Banks & NBFCs
Hundreds of branches. Thousands of assets — ATMs, servers, furniture, vehicles. SOX controls, RBI audit requirements, CARO 2020 physical verification. TRAXX manages your entire fixed asset estate with the accuracy auditors expect.
Branch asset sprawl
ATMs, servers, furniture, vehicles across 500+ branches. No consolidated register. Physical verification never completed on schedule. Statutory auditors flag it every year.
SOX control gaps
Indian subsidiaries and branches of US-listed banks require documented fixed asset controls. Spreadsheets are not a control. TRAXX provides the audit trail auditors need.
IT asset lifecycle gaps
Computers and servers have a 3-year Schedule II life. Without tracking, assets stay on the books long after retirement — inflating the FAR and distorting depreciation.
Branch-level asset management
Every asset at every branch — tagged, tracked, and reconciled. Branch-wise FAR. ATMs and IT assets managed with their own lifecycle rules. Furniture and fixtures depreciated correctly under Schedule II. Physical verification done by our VTR team — not delegated to branch staff who have other jobs to do.
- Branch-wise and cost-centre asset allocation
- ATM lifecycle — installation to decommission
- IT assets — 3-year Schedule II, tracked to retirement
- Furniture & fixtures — 10-year useful life auto-applied
- Custodian handover when staff transfer between branches
- Theft and loss reporting with insurance documentation
SOX fixed asset controls
Indian subsidiaries of US-listed banks must demonstrate that fixed asset controls exist and work. TRAXX provides the complete control environment — accurate FAR, documented depreciation policy, physical verification evidence, and an unbroken audit trail from acquisition to disposal.
- Complete audit trail on every asset change
- Approval workflows for capitalisation and disposal
- Annual physical verification — VTR evidence pack
- Depreciation policy documented and consistently applied
- GL reconciliation — FAR always ties to books
- Management assertion support for SOX 302/404