FinArch, a global software provider of truly integrated reporting, finance and risk solutions announced today that Bank of China (Luxembourg) S.A. Brussels Branch has selected FinArch's flagship Financial Studio to meet the Belgian compliance requirements.
Bank of China, established in 1912, is one of the big four state-owned commercial banks in the People's Republic of China. Luxembourg S.A. has recently opened a branch in Belgium to better serve its growing Chinese and European customer base in the Capital of Europe. Financial Studio was chosen to meet its regulatory requirements to the Belgian regulator.
Ian Hutchinson, Accountant at Bank of China, comments:"With the maze that regulatory financial reporting has become FinArch's software has been a guiding light enabling us to fulfill our obligations in an efficient and effective manner. The time saved by using FinArch's software has enabled us to focus more of our time on growing our core business. Focusing on the software itself we find it user friendly. Financial Studio contains some nice features such as the audit trail and validation rules."
"We are very pleased to welcome Bank of China, the oldest bank in China, to our established client base," states Siegfried Van Puyvelde, Customer Relationship Director at FinArch. "Since our inception, with our Finance Resource Platform (FRP), we at FinArch have been leading a revolution in the banking software industry, one for which the demand has been driven even higher lately by increased local and global regulations as well as by the need for the integration of risk, finance and data management systems. Obviously, we are very proud that Bank of China recognized the value of Financial Studio, and selected our widely-implemented reporting solution to support the regulatory requirements of National Bank of Belgium so that they can focus on serving their customers."