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FRSGlobal reports Australian RegPro implementation

05 October 2010  |  2275 views  |  0 Source: Wolters Kluwer Financial Services

FRSGlobal, part of Wolters Kluwer Financial Services, the industry-recognised leader in content-rich solutions for unified global regulatory reporting and risk management, today announced that one of its leading global investment banking clients has gone live with its regulatory reporting product RegPro in Australia.

Following the implementation, which took just four months to complete, the global bank's Sydney branch can now submit all reports required by the Australian Prudential Regulatory Authority (APRA) to stay compliant.

Steve Thurley, VP Asia Pacific and Japan, FRSGlobal, commented: "We are pleased to announce that one of the largest investment banks in the world has been able to go live in such a short time and is now benefitting from our Australian regulatory reporting expertise and solution. We already have other clients waiting to implement this solution in Australia, which will further speed up the rapid growth that FRSGlobal is experiencing in the Asia-Pacific region."

As a result of the implementation of the FRSGlobal RegPro Australian regulatory reporting solution, the bank can keep abreast of and meet the latest regulatory demands to stay compliant by submitting accurate reports in time and in the right format, whilst also benefiting from RegPro's powerful audit capability.

RegPro's audit functionality enables in-depth analysis and investigation, for internal and external bodies, as they arise - making the data that has been collected for the regulatory reports more easily accessible in a single source, and therefore valuable to the business user. FRSGlobal's fully extendable solution means that more countries and more licences can be added easily to meet the firm's increasingly global banking plans.

Thurley continued: "Our project implementation plan was thorough and efficient and met the client's short timeframe. The rapid implementation and configuration, which involves interfacing with several source systems that hold the information required by the regulator, was made possible by the complementary business and IT skills and working association between FRSGlobal and the bank's team, for which we thank them."

FRSGlobal RegPro users benefit from:
• A single repository of validated data originating from a plethora of source systems - DataFoundation
• Easy-to-use software that automates the generation of internal risk and external regulatory reports - ReportGenerator
• Fully defined regulatory reports for 40+ countries - ReportGlobal - with the FRSGlobal regulatory update service guarantee to keep them in line with regulators' requirements (which, in the current climate significantly reduces the regulatory burden on financial institutions)
• The ability to define new country or internal management-style reports - ReportBuilder
• The required electronic dispatch formats defined by regulators
• A secure library of submitted regulatory reports and the ability for audit, with full drill-down/up functionality for quick investigation into how the figures were derived

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