regulatory and financial reporting solutions and a business unit of S1 Corporation (Nasdaq: SONE), today announced they have entered into an agreement to deliver regulatory reporting within the Algo Capital solution.
Based on Algorithmics' leading risk management infrastructure, Algo Capital is
a risk management solution that enables banks to effectively measure and manage economic and regulatory capital and meet Basel II requirements. The integration of FRS Basel II reports within Algo Capital meets client requirements for the effective management and reporting of economic and regulatory capital.
"Comprehensive and flexible regulatory reporting is an important function
within an effective capital management solution," remarked Michael Zerbs,
Chief Executive Officer at Algorithmics. "FRS has solid international
experience and best-of-breed regulatory reporting that is an excellent fit
within Algorithmics' comprehensive Basel II solution."
"Institutions are being compelled through regulation to establish solid
regulatory capital management and economic reporting capital measurement and
management systems," said Debbie Williams, Group Vice President, Capital
Markets and Risk Management practices at Financial Insights, an IDC company.
"Effective reporting ensures the benefits of the reporting engine are realized
and regulators are provided accurate, timely information."
"The combination of Algorithmics leading risk management solutions with
FRS regulatory and Basel II reporting products delivers an end-to-end solution
that leading global FIs have been seeking." stated Alain Tayenne, FRS general
manager. "FRS is pleased to be working with Algorithmics to offer these banks
a solution that provides consistent regulatory reporting functionality across
their global operations."