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Algorithmics and FRS align to deliver regulatory reporting within Algo Capital

15 November 2004  |  1232 views  |  0 Source: Algorithmics

Algorithmics Incorporated, a world leader in enterprise risk management solutions, and FRS, a leading global provider of regulatory and financial reporting solutions and a business unit of S1 Corporation (NASDAQ:SONE), today announced they have entered into an agreement to deliver regulatory reporting within the Algo Capital solution.

Based on Algorithmics' leading risk management infrastructure, Algo Capital is a risk management solution that enables banks to effectively measure and manage economic and regulatory capital and meet Basel II requirements. The integration of FRS Basel II reports within Algo Capital meets client requirements for the effective management and reporting of economic and regulatory capital.

"Comprehensive and flexible regulatory reporting is an important function within an effective capital management solution," remarked Michael Zerbs, Chief Executive Officer at Algorithmics. "FRS has solid international experience and best-of-breed regulatory reporting that is an excellent fit within Algorithmics' comprehensive Basel II solution."

"Institutions are being compelled through regulation to establish solid regulatory capital management and economic reporting capital measurement and management systems," said Debbie Williams, Group Vice President, Capital Markets and Risk Management practices at Financial Insights, an IDC company. "Effective reporting ensures the benefits of the reporting engine are realized and regulators are provided accurate, timely information."

"The combination of Algorithmics leading risk management solutions with FRS regulatory and Basel II reporting products delivers an end-to-end solution that leading global FIs have been seeking." stated Alain Tayenne, FRS general manager. "FRS is pleased to be working with Algorithmics to offer these banks a solution that provides consistent regulatory reporting functionality across their global operations."

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