Reval, a leading global Software-as-a-Service ("SaaS") provider of comprehensive and integrated Treasury and Risk Management ("TRM") solutions, announced today that Europe Arab Bank plc ("EAB") has selected Reval to help automate and streamline hedge accounting and assure compliance with current and up-coming regulations.
"Confronted with increasing hedge volumes, P&L volatility and the regulatory requirements under IAS 39 and upcoming IFRS 9, EAB decided to replace its manual processes and disparate systems with a single SaaS solution for hedge accounting," says Mohammad Shoaib Memon, CFO at EAB plc. "Reval will help us to increase operational efficiency, reduce income statement volatility and assure ongoing compliance."
"Hedge accounting is becoming increasingly important and more in alignment with financial risk management strategies," says Peter Reynolds, Regional Vice President Western Europe at Reval. "Reval is happy to provide forward-looking corporates and banks, such as EAB, with solutions and expertise to implement hedge accounting best practices and keep pace with regulatory change."