The Swiss-based EFG FP, a subsidiary of EFG International, is a specialist in issuing and marketing structured investment products. EFG FP has selected the Financial Studio Trading Sub Ledger to automate and manage their trade related accounting and reporting process, from deal to disclosure. The solution will deliver event based accounting, automated FX processing, and will enable both internal management reporting as well as IFRS and Swiss GAAP reporting.
FinArch was chosen for its unique, flexible yet functionally rich Accounting Generator and Sub Ledger solution, as well as for its out-of-the-box capabilities to deliver event-based IFRS accounting, and for its IFRS calculators such as amortized cost, cash flows and fair value. In addition, Financial Studio supports IAS 39 compliant bifurcated disclosure of structured products and encompasses a fully integrated suite of IFRS and local compliance reporting; it delivers a fully reconciled Finance architecture and eradicating manual intervention in the accounting chain.
FinArchâs Trading Sub Ledger solution is a strategic and core component of the Financial Studio Finance and Risk platform. It provides a best of breed, stand alone solution for the Trading Sub Ledger and provides additional strategic options for addressing functional requirements in areas such as risk and capital management, compliance, etc in the future in an integrated, cost effective manner, leveraging the data integration work already completed in the initial implementation of the Sub Ledger.
Volker Doberanzke, member of the Executive Committee at EFG FP, states: âOur interest lies in our clients and our investors. Therefore, in our business, it is paramount that we can rely on a highly performant, robust and scalable solution, which has the flexibility to cater for current and future business needs.â Mr. Doberanzke continues: âWe have invested in a new solution that will help us to manage the accounting and reporting requirements. With FinArch and Financial Studio we have found the technology partner we were looking for.â
Nigel Lee, Chief Commercial Officer at FinArch, adds: âWe are pleased to add EFG FP to our expanding customer base. They have now joined the growing number of European investment houses as well as global tier one wholesale, commercial and retail banks that continue to trust in Financial Studio for their current and future risk and finance practices.â Mr. Lee says: âWe have a partnership approach and we will keep on supporting EFG FP with our expert knowledge and solutions as they grow. Our risk and finance experts are at the disposal of all our clients to help them understand the impact of new business challenges and external regulations, and offer them the solutions they need to support their specific business model, aligned to their own specific corporate objectives and mission.â