Garanti moves to XBRL reporting with FRS Global

Source: FRS Global

FRSGlobal, a leading provider of enterprise risk and regulatory compliance solutions, announces that Garanti Bank in Luxembourg has successfully submitted the latest monthly FinREP reports in XBRL format to the regulators using FRSGlobal FinancialAnalytics solution.

Garanti Bank is the third largest private bank in Turkey and provides retail, commercial, corporate and private banking services to over 6.2 million customers worldwide and operates across 600 domestic branches, five foreign branches, four international representative offices.

Jose Correia, VP and IT Manager at Garanti Bank Luxembourg commented: "After reviewing the FRSGlobal offer it became clear that FRSGlobal was the best fit for our business. I personally have worked with FRSGlobal for over 10 years and have always valued its services. FRSGlobal has such a great pedigree of implementations in Luxembourg that it made sense to use this expertise."

Steve Husk, CEO, FRSGlobal, said: "Banks across Europe are facing a raft of legislative change, including FinREP. This is the latest in a long list of successful wins for FRSGlobal in the region and we look forward to supporting Garanti Bank as future regulations come into force. "

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