TRAXX
Banking & Financial Services

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.

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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.

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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.

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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
VTR Branch Audit Flow
VTR Team Arrives at Branch
⚡ Load Branch FAR to Mobile App
Scan Every Asset · Tag Missing Items
◇ Discrepancies Found?
No
✓ Clean
Yes
Flag & Investigate
✓ SOX-Ready Audit Evidence
SOX Asset Control Flow
Asset Acquired / Capitalised
⚡ Added to FAR · GL Linked
Tagged · Custodian Assigned
⚡ Depreciation Auto-Calculated
Annual VTR Physical Verification
✓ Auditor-Ready at All Times

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
SOX 302 / 404
Fixed Asset Controls
Documented controls, complete audit trails, and accurate FAR — auditor-ready for US-listed banks and their Indian subsidiaries
CARO 2020
Physical Verification
VTR team physically verifies branch assets. Clause 3(i)(a)/(b)/(c) evidence pack delivered to statutory auditors.
Schedule II
Computers, ATMs & Furniture
IT assets 3 years, ATMs 15 years, furniture 10 years — auto-calculated, pro-rated, GL-reconciled.

SOX-ready. Auditor-clean. Branch to HQ.

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