Ghent/Amsterdam â 26 April 2005 - Financial Architects (FinArch), an international provider of business intelligence and financial reporting software, today announced that Banque Artesia Nederland (Dexia Group) has selected FinArchâs Financial Studio Basel II Solution. Banque Artesia Nederland relies on FinArchâs functional expertise and extends its existing Financial Studio platform to provide for Basel II compliance for head office and Dutch regulatory reporting.
Banque Artesia Nederland â Leveraging from past investments
Major advantage of the Financial Studio Basel II Solution for Banque Artesia Nederland is the fact that its people are well-acquainted with the Financial Studio data model and platform. The bank adopted Financial Studio years ago and has been making enterprise-wide use of it for Financial Reporting (e.g. daily Profit & Loss & balance sheets), Risk reporting (e.g. interest risk), MIS (e.g. customer and product matrix reporting on profitability), Middle Office reporting (e.g. deal overviews) and Dutch Central Bank reporting.
With the addition of the Basel II solution, the bank avoids data duplication and complex reconciliation and thus takes advantage of an integrated end-to-end solution. Financial Studio, which is underpinned by a comprehensive data model, improves both the quality and elapse time of (ad-hoc) reporting and analyses. At the same time, the use of bank resources is optimised where only one single and central platform needs to be maintained.
One of Financial Studioâs major qualities to the bank is its full audit trail. As all final and intermediary data are kept within the relational database, Financial Studio allows reporting and analyses at all levels. These are not limited to final reporting, but also include drill-down and drill-through from the final results, to the intermediary calculations and back to the original business data and transactions. With this granular level of detail, Banque Artesia Nederland can perform easy audit trail and control and thus support the Accordâs Pillar 2.
Within Financial Studio the capital requirements can be pinpointed at customer level as well as at the underlying transactionsâ level. Based on the embedded risk engine, the solution ensures optimal exposure-mitigant combination, thus minimal capital requirements. For Dutch regulatory reporting, the bank already uses Financial Studio. As FinArch has already drafted the CEBS Basel II reports, the alignment with the CEBSâs final specifications will be performed fairly smoothly as it merely requires an adjustment of parameterisation.
"We are obviously very pleased to add Banque Artesia Nederlandâs to our string of Basel II customers" says FinArch CEO, Dirk De Beule. "They are making good use of Financial Studioâs many options; the addition of our Basel II solution enables them to take full advantage of past investments. This project proofs again that we are a recognised leader in the Basel II space and one of the few software providers that can offer an âout of the boxâ solution integrating the required regulatory reports. Together with the various Basel II assignments that we are currently undertaking with North American and European financial institutions, this project confirms FinArchâs strength and expertise in the global market."