To help banks address a tactical issue with a strategic vision and ensure their overall compliance while maximizing continued competitiveness as well as minimizing any required systems upgrades, FinArchâs Basel IA solution has been built to anticipate future changes and be easily deployed. This will enable US banks to implement Basel IA with the peace of mind of knowing that even if the rules change, as anticipated to balance the impact of Basel II, their software investment will provide them with the flexibility to meet the regulatorâs future requirements and not be at a disadvantage when Basel II kicks in.
Leveraging their overall effort to implement Basel IA, banks will also have the opportunity with FinArchâs Basel IA solution, as an option, to benefit from a seamless integration with FinArchâs own Fed regulatory reporting package which streamlines the regulatory reporting process from data sourcing, to production, to filing. The concept of FRP with its integration of finance and risk calculators, analytics and reporting is a must when seeking to minimize interfaces between systems and generally have better control over the quality of the data that flows from source systems to internal and external reports.
Alex Lambrinides, VP North America Sales at FinArch comments: âWe are extremely pleased to offer our Basel IA software solution, part of our Financial Studio FRP solution suite, to the non-Basel II banks in the US. Our existing finance, Basel I & Basel II experience and expertise gives us great confidence that our offering will minimize the actual cost of implementing Basel IA and will also help banks reduce their future cost of compliance, enhance the quality of their data, and ultimately reports, whilst focusing on competitive advantage.â