PT Bank DBS Indonesia (DBSI), a subsidiary of Singapore's DBS Bank, is implementing technology from STB Systems to comply with the Bank of Indonesia's (BI) new regulatory reporting requirements.
The bank will use the vendor's automated reporting software, STB-Reporter, to comply with the BI's new "LBHU" regulations, which require firms to submit reports on a daily basis from March 2005. The product provides direct input to electronic copies of the BI forms. The system also performs return and cross-return validation and allows the user to correct any mistakes.
The vendor's local partner in Indonesia, Cygnet Pericon, will provide the bank with implementation services.
Commenting on the technology, Michael Thomas, group CEO, STB Systems, says: "The solution will offer banks the opportunity to further expand their reporting as and when they require across their entire enterprise."