Initially RegPro will be rolled out to ANZ Bankâs Indonesia, China, Singapore, Taiwan, Hong Kong, Vietnam, Japan, India, Philippines, South Korea and Cambodia offices. The bank has options to roll out RegPro into South Pacific, Australia and New Zealand at a later stage.
Over the last 12 months FRSGlobalâs product coverage in APJ has grown from three to eight countries and with the addition of ANZ this will increase further.
Steve Thurley, VP Asia Pacific and Japan, FRSGlobal commented:
âWe are delighted to be working with ANZ Bank in the region. This is another example of how well FRSGlobal solutions meet the increasing regulatory demands of global banks. With our solutions, they do not have to implement a plethora of local solutions which are expensive, difficult and risky to maintain. Our offering is extremely compelling as we enable global banks to centralise multi-country risk and regulatory reporting from both a technical and business perspective and address global regulatory, compliance and risk requirements at a local level.â
ANZ will be able to address global regulatory requirements with its implementation of FRSGlobalâs RegPro which consists of:
â¢A single repository of validated data originating from a plethora of source systems â DataFoundation. One central solution, capable of extracting data from multiple systems into one physical location faces the four data challenges: availability, movement, consolidation and quality
â¢Easy-to-use software that automates the generation of risk and regulatory reports â ReportGenerator
â¢Fully defined regulatory reports for 40+ countries - ReportGlobal - with a Guarantee to keep them in line with Regulators' requirements which, in the current climate, will ease the regulatory burden on financial institutions
â¢The ability to define new country or internal management-style reports â ReportBuilder
â¢A library of submitted regulatory reports and the ability for audit, with full drill-down/up functionality for quick investigation into how the figures were derived.