FRSGlobal and SKS collaborate to extend leading Global Regulatory Reporting solution for German banks

17 March 2008

FRSGlobal, a leading global provider of enterprise risk and regulatory compliance solutions, today announced that it has collaborated with SKS, a German software and services provider. Under the terms of the collaboration, SKS will develop and maintain a mapping interface between its iCALC application and the FRSGlobal FinancialAnalytics regulatory reporting platform. The combined solution will be available to international banks and financial institutions from March 2008.

FRSGlobal’s FinancialAnalytics is already used by more than 1000 financial institutions, including more than 40 of the world’s top 50 banks, operating in 30 different countries. Organisations can develop accurate, timely and useful financial intelligence across the enterprise and, at the same time, achieve cost-effective compliance with country-specific and international regulatory requirements.

SKS provides a range of applications including iCALC which provides a functionally rich system that enables data transfer between popular German reporting systems and the internationally renowned FRSGlobal regulatory reporting solution
Jan Schweers, Managing Director, SKS, said: “The partnership with FRSGlobal has been created to enhance our solution offering to banks in the multi-country market and is complementary to the iCALC application. We chose to collaborate with the market leading FRSGlobal FinancialAnalytics solution because their product is highly advanced, designed specifically to meet global reporting requirements of banks expanding into new territories as is increasingly the trend in Germany where standard international solutions are difficult if not impossible to find .”

Marc Gillis, Sales Director, FRSGlobal said: “Thanks to our unique DataFoundation approach we were already providing the right solution for many of our large customers. The logical set up of adding new countries in a multi-country deal was possible thanks to our strong presence in many countries. Through our partner BearingPoint we were already present in the German reporting world. Now with the partnership of the young and dynamic SKS, a renowned and appreciated IT provider and consultancy firm, we both will increase our scope and capacity to better serve customers looking for a German reporting solution.”

Roy Barnes, Director of Alliances, FRSGlobal said: “We believe that this collaboration is great news for banks in the German market because it provides a way to benefit from a proven integrated international regulatory reporting solution that addresses the issue of multi-country reporting compliance. The fact that leading international banks have selected FRSGlobal for regulatory reporting is an excellent endorsement of our solution and the value that it can bring to leading German banks operating around the world.”

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