21 August 2017
Find out more

FRS signs LRI Luxemburg to regulatory reporting software

30 July 2007  |  1520 views  |  0 Source: FRS

FRS, a leading global provider of enterprise risk and regulatory compliance solutions, today announced that it has won a contract with LRI Landesbank Rheinland-Pfalz International S.A. in Luxembourg, the private bank and fund manager.

LRI Luxembourg will implement the FRS regulatory reporting platform across all of its Luxembourg's operations, thus enabling it to comply with both IFRS and Basel II reporting requirements.

LRI Luxembourg selected FRS ahead of other providers on the market because it offered a solution that could address the complex reporting requirements of its innovative instrument portfolio across four business divisions - private banking, fund management, treasury and capital markets - by consolidating them onto one platform.

Volker Kron, head of the accounting unit of LRI Luxembourg said: "I have worked with FRS in the past very successfully and it has a great reputation in the market place. We wanted to take the opportunity to migrate to a single regulatory reporting package that not only covered current regulatory reports for our four main business units but that would also be able to lead us through regulatory reporting requirements due to come into effect in 2008."

Jeroen Gruijters, VP Professional Services at FRS, said: "We are delighted to say that the project at LRI Luxembourg is currently on track with the help of one of our key products, Data Foundation. The first reports for the current Luxembourg returns across all the business units have been produced and the next step will be to evolve to the new regulatory regime in preparation for the 2008 compliance deadlines. We are particularly pleased that we are able to provide support for the complex instruments that LRI trade, including CDS, OTC derivatives & structured products"

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.dorsum.eudownload the paper nowvisit www.worldpaymentsreport.com

Top topics

Most viewed Most shared
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
10501 views comments | 24 tweets | 23 linkedin
Norwegian banks and startups form fintech clusterNorwegian banks and startups form fintech...
8779 views comments | 19 tweets | 23 linkedin
hands typing furiouslyWhy Is Risk Analytics Important?
8641 views 0 | 3 tweets | 1 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
8445 views comments | 10 tweets | 7 linkedin
Barclays pairs banking data with third party apps for SmartBusiness DashboardBarclays pairs banking data with third par...
7958 views comments | 17 tweets | 16 linkedin

Featured job

Find your next job