20 April 2018
Visit http://response.ncr.com

FinArch upgrades risk software for Basel II and IAS compliance

25 July 2002  |  3321 views  |  0 Finarch logo 3

Belgium-based FinArch has added new functionality to its financial reporting software Financial Studio, to address the requirements of Basel II and International Accounting Standards (IAS).

The upgraded solution provides risk-weighted balance calculation for all assets and off-balance-sheet positions, resulting in aggregated risk-weighted asset values. The solution also adopts the risk weighting calculation by reference to either external credit assessment institutions' ratings or interal PD factors, says the company.

Operating within a single database environment, the system includes a credit mitigation routine with full audit trail capabilities for collateral portfolios, guarantees, credit derivatives and netting agreements. Extensive drill-down capability allows tracking and identifying sources of risk and areas of over-exposure.

Dirk De Beule, CEO of FinArch, comments: "By providing an early stage solution for Basel II and IAS within an integrated system, financial institutions will take a quantum leap in the preparation for these new regulations."

Buouyed by bank spending on compliance, the privately-owned group says it is on track to double revenues for fiscal 2002. For H1 2002, De Beule is claiming an order intake equivalent to three times the revenue reported for fiscal year 2001.
KeywordsBUY SIDE

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Basel regulations pose massive data problems for banks, says Meridien

Basel regulations pose massive data problems for banks, says Meridien

23 July 2002  |  3437 views  |  0 comments

Related company news


Related blogs

Create a blog about this story (membership required)
Visit http://go.jumio.com/finextraAdhttps://www.capgemini.comVisit https://aciworldwide.webex.com

Top topics

Most viewed Most shared
Revolut launches spare change savings toolRevolut launches spare change savings tool
9493 views comments | 14 tweets | 19 linkedin
TransferWise becomes first non-bank to open settlement account with BofE RTGSTransferWise becomes first non-bank to ope...
8441 views comments | 17 tweets | 30 linkedin
Barclays Bank sets up tech venture unitBarclays Bank sets up tech venture unit
8259 views comments | 16 tweets | 22 linkedin
Goldman Sachs acquires PFM startup Clarity MoneyGoldman Sachs acquires PFM startup Clarity...
7845 views comments | 9 tweets | 10 linkedin

Featured job

Find your next job