PeopleSoft is to integrate its Performance Management (EPM) system with FRS's FinancialAnalytics product in an effort to help banks and financial institutions comply with Basel II reporting regulations.
S1 subsidiary FRS monitors local regulatory reporting requirements in more than 20 countries. Its FinancialAnalytics solution provides a pre-built, automated solution for preparing and filing complex reports.
As part of the deal, PeopleSoft's EPM platform will be extended to support FRS's data requirements and the FinancialAnalytics solution will handle disclosure and reporting requirements associated with Basel II.
William Soward, general manager, FRS, says: "The combination of our solutions will not only provide banks with immediate relief from compliance challenges, but it will also allow them to offload the ongoing burden of staying current as requirements change."