automation, is very pleased to announce their appointment as the U.S.Regulatory
Reporting Vendor of Choice by Misys International Banking Systems (Misys). This
elevated status serves as further acknowledgement to IDOM's large customer base
that they have chosen the superior solution, as well as sends a powerful message
to Misys banks that have not yet automated their regulatory reporting.
"Having the Misys 'seal of approval' is something the banking community will
definitely take note of," IDOM's President & CFO Vincent Raniere pronounced.
"We are the only vendor to achieve this level of recognition in the United States and it will be regarded as a testament to the proven power of REG-Reporter."
REG-Reporter automates compliance with reporting requirements to regulatory
authorities, management and head offices, and helps ensure the accuracy and integrity of financial reports while increasing the efficiency of reporting. It combines data from all of the bank's systems into a central data repository, where key information is translated into standardized data. The resulting data is then compiled into required report formats recognized by regulatory agencies such as the Federal Reserve Bank.
"The use of REG-Reporter with our core systems, Midas, Equation, and Opics has
become the industry standard for integrated financial reporting," said Richard
Rosenthal, President of Misys North America. "Now that IDOM has fifteen of our
clients using REG-Reporter in conjunction with our banking products, we see this
automated solution as the de facto industry standard for regulatory reporting
in the United States and felt it was warranted to name IDOM the U.S. Regulatory
Reporting Vendor of Choice."
"REG-Reporter works perfectly with the array of Misys banking systems by providing a standard data extract that enables a quick and smooth implementation, allowing banks to rapidly begin automating their regulatory and head-office reporting requirements," stated Raniere. "Furthermore, our solution gives banks the benefits of a comprehensive data warehouse, which can be utilized for additional MIS reporting, which allows the banks to produce additional reports including management and head office reporting from the same database."