FRSGlobal boosts presence in Russia with Technoserv partnership

3 December 2008

FRSGlobal, the only global provider of risk and regulatory compliance solutions for over 30 countries on a unified platform, today announced a partnership agreement with Technoserv in Moscow.

Technoserv is a leading provider of products and technologies and the largest Russian company dedicated to system integration. Technoserv is the largest integrator in Russia and CIS countries and possesses a dedicated team of highly qualified professionals with extensive hands-on experience in the financial industry.

The partnership will involve active support of sales activity in Russian speaking countries and, as an acknowledged industry leader, Technoserv will participate in implementation projects bringing its knowledge, experience and local expertise.

The partnership will be further supported by the appointment of Elina Jutelyte who joins the EMEA sales team to focus on FRSGlobal's operation in Russia. Elina has a broad knowledge of processes affecting global financial companies as well as the associated nuances and requirements of the Russian market.

Following FRSGlobal's acquisition of IRIS integrated risk management in August 2008, IRIS riskpro software has been integrated into FRSGlobal's suite of risk and regulatory compliance products and Technoserv was the partner of choice to distribute and implement the combined FRSGlobal solution in Russia.

Other aspects of the partnership will include the provision of consulting services related to regulatory reporting, financial analysis and risk management, as well as other professional services, including product maintenance and support.

Vladimir Schukin, Technoserv Director for Commercial Operations:

“We are committed to the continued development of products and services that are of both relevance and high-value to our financial services clients in Russia, the CIS and Baltic states.

"We believe the addition of the market leading products offered by FRSGlobal will continue to demonstrate our leadership in this area. The powerful combination of risk and regulatory compliance capabilities, such as those offered by the FRSGlobal products, is something a number of our clients have been discussing with us already. Our partnership with FRSGlobal allows us to provide this market leading functionality to our clients to significantly enhance their business operations. We look forward to a long and mutually beneficial relationship."

Steve Husk, CEO of FRSGlobal, said:

“Given the growing sophistication of the Russian markets and ever increasing attention to risk and regulation, we look forward to forming a more established customer base with the support of both Technoserv, in a region that offers great potential.”

BNP Paribas (BNPP) CIB recently signed a contract to implement the FRSGlobal software solution to handle its regulatory reporting in Russia. BNPP required a comprehensive solution to combine the complex Russian reporting requirements and facilitate its global reporting process. With this implementation, Russia becomes the eighth country to have its regulatory reporting handled by the FRSGlobal solution for BNPP.

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