FinArch supports mobile payment company with Compliance solution

Ghent - 18 November 2009

Financial Architects (FinArch), international provider of a Finance Resource Planning (FRP) platform for the finance industry, today announced that the Belgian electronic payment issuer Tunz.com has implemented successfully Financial Studio Compliance to meet the local regulatory requirements.

Tunz.com is a Belgian company, that offers solutions for mobile payments to financial institutions and mobile operators. As a provider of electronic money, Tunz.com is subject to reporting obligations to the Belgian regulator. To comply with these requirements, they selected Financial Studio. The functionalities, stability and ease of implementation of the solution as well as the professionalism of FinArch were the decisive factors in their choice.

Jean Zurstrassen, Chief Executive Officer and co-founder at Tunz.com says: ‘“For an ambitious company as Tunz.com, it is vital to have solutions that offer ease of use as well as flexibility. FinArch’s technology and scalability of their offering convinced us as it fits well in our growth plans.” “We also valued highly FinArch’s customer-driven professionalism: their experts really took the time to assess our needs and proposed the right solution for it,” Zurstrassen adds.

Siegfried Van Puyvelde, Customer Relationship Director at FinArch, states: “Obviously, FinArch is very proud to team up with Tunz.com. It demonstrates our added value to the entire financial industry, from retail banks and private banks over investment banks and securities firms to players in the electronic payment industry. With our flexible and extensible solution, Tunz.com has selected the right provider to support their regulatory reporting and growth.”

FinArch’s Financial Studio Compliance solution enables banks and financial institutions to meet regulatory demands for stricter compliance, while gaining additional business benefits by improving reporting flows, improving return on IT investment, and turning compliance into a cost-saving exercise. The Financial Studio Compliance module offers standard and certified regulatory reporting functions, based on pre-defined reporting templates. It can be used as an integrated part of any Financial Studio solution or as a stand-alone module, meeting all compliance requirements for financial reporting in these key areas: Regulatory reporting, Basel II compliance reporting, Liquidity Risk Reporting, IFRS compliance reporting.

Financial Studio Compliance is integrated in FinArch’s Financial Studio FRP platform which embraces accounting, risk management, MIS and compliance solutions, and is used by numerous financial institutions worldwide. FinArch is also positioned as a leader in Gartner’s Magic Quadrant for Basel II software applications. In addition, FinArch has also been ranked as the winner of the ‘Risk and Finance Integration’ category in Chartis Research’s annual report RiskTech100TM (2009). The company’s focus coupled with a solution that can be scaled to meet broader corporate performance management, has thus been recognised by the global financial markets.

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