Back to all announcements


IDOM’s REG-Reporter, a tool to automate production of regulatory reports, to complement SAP’s Basel II software.

Newark, NJ, December 14, 2005 – IDOM, Inc. today announced that they will work with SAP America, Inc., a subsidiary of SAP AG (NYSE: SAP), to deliver management solutions to the U.S. financial industry for improved capabilities in the areas of automated regulatory reporting and Basel II reporting.

"Basel II has important implications for corporate borrowers around the world," said SAP’s Jim Hughes, senior vice president of Financial Services, North America. "Forward-leaning organizations are taking a strategic, proactive approach to governance, recognizing that regulatory mandates provide an opportunity to distinguish themselves in the marketplace."

Hughes further commented, "Both IDOM’s and SAP’s solutions deliver regulatory-specific functionality across a broad range of countries, but our initial focus with IDOM will be on the North American market. SAP’s Basel II software coupled with IDOM’s REG-Reporter will allow financial institutions to develop an integrated compliance, risk management, and governance strategy to drive sustainable and scalable results."

The SAP® Basel II application supports the calculation of capital requirements, for all SAP Basel II asset and collateral types, in every portfolio class by means of a structured and standardized calculation process.

REG-Reporter is the industry standard for automating financial institutions' regulatory reporting needs, mitigating risk and increasing the effectiveness of bank personnel. REG-Reporter addresses the financial reporting requirements of both domestic and international banks by automating compliance with mandated reports to regulatory authorities, senior management and head offices. It helps ensure the accuracy and integrity of financial reports while increasing the efficiency of the reporting process, allowing for that much needed analysis time. The application combines data from all of the bank’s operating systems into a central data repository, where key information is translated into standardized data. The resulting data is then compiled into the required report formats recognized by regulatory agencies such as the Federal Reserve Bank, FFIEC and OCC.

"We are excited to bring IDOM’s REG-Reporter solution to the SAP banking solution portfolio," said Vincent Raniere, IDOM president and chief financial officer. "This relationship allows both companies to share market intelligence, which in turn will enhance our ability to offer financial and risk management solutions that help our clients to improve operational efficiency while providing the versatility to manage diverse functions in real time that can help meet the rigorous demands of various regulations."