Second major building society in a matter of weeks to replace its incumbent regulatory reporting system with REPORTER
Lombard Risk Management plc (LSE: LRM), a leading provider of integrated collateral management and liquidity, regulatory, transaction and MIS reporting solutions for the financial services industry, is pleased to announce that the West Bromwich Building Society has selected Lombard Risk REPORTER to automate their regulatory reporting.
REPORTER is a fully scalable regulatory compliance solution widely used by building societies and banks throughout the UK. The system keeps pace with regulatory requirements, automating end-to-end from data collection to electronic output, so providing the ideal solution for all automated regulatory reporting requirements.
The West Bromwich Building Society is a leading regional building society based in the West Midlands, and the 6th largest in the UK with more than 500,000 members.
John Wisbey, Chief Executive Officer, Lombard Risk stated: “West Bromwich represents the second major building society since the New Year to move to REPORTER and we are delighted to have them as our newest client. Adherence to the new EBA Common Reporting COREP regulations, including Large Exposures, Liquidity Coverage and Net Stable Funding, as well as existing FSA and Bank of England reporting is a major challenge for financial institutions of all sizes. With our solution clients can be assured of compliance knowing that Lombard Risk is committed to being the global leader in regulatory reporting.”