FRSGlobal, the only global provider of risk and regulatory compliance solutions on a unified platform with coverage for over 40 countries, today announced that, European private bank Fideuram Bank (Monaco), part of the Italian banking group Intesa Sanpaolo, a market leader in retail and corporate banking, asset management, corporate finance and trading, has selected FRSGlobal’s regulatory reporting tool, RegPro for its regional reporting requirements.
With RegPro, Fideuram Bank (Monaco) can generate the regulatory reports that will keep it in line with specific requirements outlined by Banque de France and Commission Bancaire including BAFI, CENTRA, CRP, BOP, Protide and COREP. FRSGlobal’s Guarantee ensures that all regulatory reports are maintained in line with regulators' requirements, for example, the bank will also be fully compliant when the BAFI regulation is replaced by SURFI in 2010. RegPro also has the ability for all statistical reports to be sent on a monthly, quarterly, bi-annual, annual or on an ad-hoc basis.
Vincent Burgraff, Director of Organisation & Systems at Fideuram Bank (Luxembourg) said: “We were already aware of what we could achieve with FRSGlobal’s RegPro, as we chose it for our Luxembourg regulatory reporting two years ago. Having tried and tested the solution extensively in our day-to-day business, we can say with confidence that FRSGlobal is our risk and regulatory solution provider of choice. The stability, flexibility and scalability of RegPro is second to none.”
RegPro’s automated end-to-end production of regulatory reports replaces the bank’s previous manual method of creating and submitting reports to the regulator, saving the company valuable time and resource.
Audrey Collignon, Sales Executive EMEA South, FRSGlobal said: “Fideuram Bank is a valued customer of ours and we are delighted that we can work with them further. We look forward to replicating the success of our solution in another region.”
Marc Gillis, Sales Director EMEA South, FRSGlobal, commented: “Fideuram Bank (Luxembourg) has stated in the past that it selected FRSGlobal ahead of the competition because it was impressed with our proven implementation success and our in-depth knowledge of financial reporting regulations. So the fact that such a major bank is further extending its regional coverage with us is a true testament to the actual strength of our technology once it is put into action.”
FRSGlobal’s RegPro consists of:
A single repository of validated data originating from a plethora of source systems – DataFoundation. One central solution, capable of extracting data from multiple systems into one physical location faces the four data challenges: availability, movement, consolidation and quality; Easy-to-use software that automates the generation of risk and regulatory reports – ReportGenerator; Fully defined automated regulatory reports for 40+ countries - ReportGlobal - with the FRSGlobal Guarantee to keep them in line with regulators' requirements which, in the current climate, significantly eases the regulatory burden on financial institutions; The ability to define internal management-style or reports for new business areas – ReportBuilder; A library of submitted regulatory reports with the ability for audit through full drill-down/up functionality for rapid investigation into how the figures were derived.
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