Innovative provider responds to market demand for compliance solutions
Financial Risk Solutions (FRS), a provider of investment administration and compliance oversight software, has announced a range of demand-driven expansion plans, to take effect in January 2016.
The Dublin-based company has expanded its team by ten to accommodate the increased demand for its software among its core client base of Life Assurance companies.
This investment has been fuelled by a very successful past year for FRS, which saw six major new life assurance clients added to the impressive list of companies now benefiting from FRS’s software. The new clients are licensing FRS software, Invest|Pro™, Invest|Retail™ and Invest|GRC™, to industrialise their investment administration processes and Solvency II Pillar III asset reporting as well as significantly reduce operational risk and costs.
The demand for FRS’s software products has been driven by the ever increasing operational and reporting challenges generated by ongoing regulatory change in the industry, in particular the introduction of the Solvency II directive. Invest|Pro™ and Invest|GRC™ from FRS enable companies to automate and integrate their asset and fund management system and tasks whilst quickly and easily introducing more sophisticated controls and reporting capabilities – helping companies address these complex regulatory challenges with minimal cost and disruption to their businesses.
FRS will open additional offices from 25th January to accommodate the growing team who will mainly be focused on software development and client implementations.
Peter Caslin, CEO at FRS commented, “2016 is an exciting time for FRS as we look to build on last year’s success and set our expansion plans in motion. Our extended resources will allow us to deliver increased value to our existing and new clients meet ongoing Solvency II and other challenges as well as poising us for further growth and product innovation in 2016. We look forward to announcing more positive news as this year progresses.”