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Bank Leumi USA signs for Lombard REG-Reporter

10 July 2013  |  1448 views  |  0 Source: Lombard Risk Management

Lombard Risk Management plc, a leading provider of integrated regulatory compliance and collateral management solutions for the financial services industry, is pleased to announce that Bank Leumi USA, a wholly-owned subsidiary within the Leumi Group, has selected its REG-Reporter regulatory reporting solution in order to comply with the ever-changing reporting requirements in the U.S.

Lombard Risk's automated regulatory reporting solution was selected by Bank Leumi USA due to its efficient, accurate and manageable reporting processes and its ability to save time, resources and streamline processes. Designed and maintained by experienced business practitioners for end-to-end financial reporting, REG-Reporter addresses the requirements of both domestic and international banks and financial institutions by automating compliance with mandated reports to the Federal Reserve Bank and other regulatory agencies.

"We are very confident about our decision to purchase REG-Reporter based on their long-standing reputation for providing the most comprehensive solution to automating the regulatory reporting process to the Fed." said Michael Fegan, EVP, Chief Operations and Technology Officer, Bank Leumi USA. "We feel this software will significantly streamline our report preparation, allowing us to maximize our time in reviewing and analyzing our reports. We look forward to becoming part of their active user community."

John Wisbey, Chief Executive Officer, Lombard Risk commented: "We are very pleased to have Bank Leumi USA, one of the leading Israeli banks in the U.S., as a new customer utilizing REG-Reporter in their New York facility. They join over 75 other major banks in this marketplace which use Lombard Risk's effective and proven solution. Our investment in developing a fully integrated reporting solution that meets the challenging regulatory environment now and in the future has clearly put us in a strong position to service the bank." 

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