Oracle, Lombard Risk Partner on Automated Reporting
Lombard Risk Management plc (LSE: LRM) ("Lombard Risk"), a leading provider of regulatory reporting and collateral management solutions for the financial services industry, is pleased to announce Cliff van Tonder, Executive Vice President - Global Alliances at Lombard Risk, will be co-presenting at Oracle's OpenWorld 2015 Conference in San Francisco on Monday, 26 October 2015.
With over 60,000 attendees from across the world and an additional 2 million on-line attendees, this conference brings business people together to learn about how cutting-edge technology can improve their top and bottom lines, drive higher productivity, and manage their finances using the agility-enabling technologies. This particular presentation focuses on how an efficient data management solution can meet regulatory reporting and business challenges.
Oracle Financial Services recently announced its partnership with Lombard Risk for a new automated regulatory platform aimed at improving regulatory reporting efficiency. The offering -- which was awarded "Best Regulatory Reporting Platform or Service" from Operational Risk and Regulation Magazine 22 October 2015 -- consists of Oracle Financial Services' Data Foundation analytical data platform and a user portal, which incorporates Lombard Risk's Reporter Portal and reporting templates.
Cliff van Tonder, Executive Vice President - Global Alliances at Lombard Risk, commented: "Banks adopting a consistent and efficient approach to regulatory reporting can also achieve substantial benefits in how they run their business and comply with future regulatory requirements," says Cliff. "These banks can effectively leverage compliance budgets to drive better financial performance, deepen customer relationships, and optimize usage of data assets. In this session we will show how Oracle Financial Services Analytical Applications clients have chosen to use financial-services-specific analytical solutions to meet these challenges with a unified data, reporting, and analytical solutions approach."
The Oracle Financial Services Regulatory Reporting Solution works with the Lombard Risk Regulatory Reporting solution and enables firms to automate the final mile of the regulatory reporting process. It provides a framework that works with the Oracle Financial Services Data Foundation results model and enables a complete submission workflow. The Reporter Portal supports pre-built report templates across multiple jurisdictions and regulators across the globe.
Kieran Lees, Global Sales & Marketing Director, says: "With the continued increase in regulatory demands on financial institutions comes an inevitable slowing on their business operations. Lombard Risk's suite of software solutions enables our customers to become more agile in responding to these demands and therefore to have competitive advantage in their markets. Our relationship with Oracle accelerates the delivery of our vision of creating agility in financial services. The capability, reputation and presence of Oracle brings significant value to our combined solutions and our shared customers will benefit greatly."