-- Platform Innovations Reduce Total Cost of Ownership and Eases Implementation of Financial Institution's Enterprise Compliance Strategies --
Brussels, 26th July, 2005 – FRS, a global leader in regulatory reporting, financial intelligence and analytics solutions and a business unit of S1 Corporation (Nasdaq: SONE), announces the availability of FRS FinancialAnalytics 2.0 the company’s flagship product suite. FRS FinancialAnalytics 2.0 provides an holistic, enterprise platform approach to regulatory reporting and financial analytics that empowers financial institutions to increase operational efficiency, reduce costs and mitigate risks, and has been designed to reduce the total cost of ownership for financial institutions. FinancialAnalytics 2.0 also supports FRS Risk Measurement which offers a complete solution for data storage, data assessment and reporting of regulatory capital requirements as proposed under the Basel II accord.
Based upon direct customer feedback, these improvements have been added to the FRS FinancialAnalytics platform to help financial institutions reduce IT costs, accelerate implementation and realize the benefits of achieving their enterprise compliance initiatives. With FRS FinancialAnalytics, financial institutions can run financial reporting applications in a single country or leverage their data across a suite of financial reporting, risk and analytical applications across multiple business lines and countries.
Amilcar Magalhaes Ribeiro, Director, Banque Edmond De Rothschild Europe; "We chose FRS FinancialAnalytics to centralize regulatory reporting data into a single data foundation enabling the optimization of reporting practices". Mr. Ribeiro continues that: "FRS FinancialAnalytics ensures the accuracy, availability and auditability of data, creating a more streamlined, better-informed, efficient operation".
Key components of the latest release of FinancialAnalytics include:
- Performance & System Enhancements:
FinancialAnalytics 2.0 offers a range of enhancements and improvements aimed at reducing the total cost of ownership of the entire product suite. From a simplified one-click installation through to a dramatic increase in performance FRS FinancialAnalytics 2.0 is faster and easier to use than ever before.
- FRS Data Foundation Extensions:
FRS Data Foundation comprehensive, normalized data model for regulatory and risk data that supports financial reporting in more than 25 countries across multiple lines of business, has been enhanced to provide a more fully integrated model for regulatory reporting, Basel II reporting, IFRS disclosures and performance measurement.
- Data Management Center (DMC):
FinancialAnalytics 2.0 includes a robust and intelligent, browser-based data management center (DMC); an administration tool to support all the disciplines related to the secure and safe management of information and data within FRS Data Foundation.
- FRS Risk Measurement:
FRS Risk Measurement is a complete solution for data storage, data assessment and reporting of regulatory capital requirements as proposed under the Basel II accord. FRS Risk Measurement extends FRS’ support for existing capital adequacy requirements to additional risk analysis and capital allocation, providing the foundation for effective management of internal processes and Basel II compliance.
- FRS IFRS Reporting:
FRS IFRS Reporting has been extended to support additional banking products and provide financial institutions confidence in the reliability, accuracy and comprehensiveness for financial statement compliance in line with regulations IAS 32 and IAS 39. FRS IFRS Reporting supports multiple currencies, multiple ledgers, multiple languages and complies with FinRep requirements.
"Having listened closely to our customer base and after studying market trends we are confident that FinancialAnalytics 2.0 is the ideal solution to assist financial institutions optimize their costs and increase the value of regulatory reporting," states Alain Tayenne, general manager at FRS. "With this release, FRS continues to provide global banks with a low risk, cost-effective roadmap for addressing the unique challenges associated with enterprise risk and regulatory compliance."
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