C Hoare and Co, the UK's leading independent private bank, has chosen the partnership of Spring Programs Limited and Whistlebrook to provide them with a FSA liquidity reporting solution.
The highly experienced consultants from both companies have been working together on the project with the banks own technical and financial staff.
Whistlebrook have provided their ALFI business intelligence solution which will act as a central point for regulatory reporting data. This data will then be imported into the correct FSA data items in the SPRiNG reporting software before being transmitted. The initial focus of the project has been to prepare for the new FSA liquidity data items from June 2010, however the SPRiNG solution is also able to produce the FSA LRP regulatory report, which is to be used until the FSA switch on GABRIEL for liquidity reporting in September 2010.
Richard Mumford, Project Manager for C Hoare and Co, commented "The SPRiNG system has allowed us to import data into the new FSA liquidity data items FSA047 and FSA048, before exporting the data into the FSA LRP report. This has enabled us to analyse the data for the forthcoming new forms while meeting our existing reporting requirements to the FSA".
Andy Hudders, the Whistlebrook Sales Director, has been very pleased with the success of the ALFI/SPRiNG project, stating "It really helps with the regulatory reporting workload. ALFI automates the collection and storage of the required regulatory reporting information, which is then electronically fed into SPRiNG for validation and onward transmission to the FSA".
Spring Programs' Director, Sharon Cormican, said, "We are extremely pleased that C Hoare and Co Bank has chosen SPRiNG as part of their regulatory reporting solution. As the only specialist independent company in the UK, we have the regulatory reporting expertise to ensure that our customers meet their regulatory reporting requirements on schedule."