FRSGlobal, part of Wolters Kluwer Financial Services, a leading worldwide provider of compliance and risk management solutions for the financial services industry, today launched web-based versions of its solutions to enable multiple audiences - including the C-level executive suite - access to powerful risk and regulatory reporting functionality online.
The technology builds on FRSGlobal's proven web-based risk management solutions, providing one integrated view of the organisation from any web browser, anywhere, at any time.
Research conducted by International Data Corporation (IDC), a global provider of IT market intelligence, predicted that by 2013, the total of office-based, non-office-based and home-based mobile workers will grow to nearly 1.2 billion people, representing more than a third of the world's workforce.[i]
The FRSGlobal new Java-based functionality encompasses flexible dashboarding technology and an online analytical processing (OLAP) cube, allowing users to view, slice, and dice results of risk and regulatory reporting data, making analysis easier and more flexible. Over 2011, FRSGlobal plans to add further functionality to its web-enabled technology, including the addition of advanced user work flow management and data workflow management.
Wolfgang Prinz, VP product management said: "We pride ourselves on the fact that our product offering has always been very strong, and the roadmap for 2011 is no exception - especially as we integrate further with Wolters Kluwer Financial Services, a leader in comprehensive regulatory compliance and risk management and web-based workflow. The launch of our web-based solutions at the end of the first quarter is the first of many initiatives that we are focusing on to significantly improve the way our customers work."
Prinz continued: "The launch of this new technology will allow our customer base to achieve detailed insight into their business whenever and wherever they are, which will in turn increase productivity across the business. We are seeing strong take up for our web-enabled technology from our existing customer base and expect this to increase as the global mobile workforce continues to grow."
FRSGlobal solutions are enriched with content including pre-defined regulatory reports and stress testing libraries, and are employed daily across the globe by firms to meet increasingly complex external (regulatory) and internal (management) reporting obligations. With the new web-enabled technology FRSGlobal's customers benefit from the following functionality from any web browser:
• A single repository of validated data originating from a plethora of source systems - DataFoundation;
• Regulatory reporting solution, which enables financial institutions to address major regulatory and compliance requirements locally and globally - at branch and head office level; and
• Unified risk and profitability analysis solution, which provides profitability analysis across the following risk types: Asset Liability Management (ALM), Liquidity, Market, Credit, Basel II, IFRS, Solvency II, Funds Transfer Pricing and Economic Capital.
In addition, subscribing clients benefit from the FRSGlobal Regulatory Update Service, which helps ensure that regulatory reports are maintained in line with the regulators' requirements. FRSGlobal Centre of Risk & Regulatory Excellence monitors risk and regulatory activities around the world.
[1] IDC, Worldwide Mobile Worker Population 2009-2013 Forecast, Doc#221309, Dec. 2009.