TLC Risk Solutions, a leading supplier of Basel II risk systems to the financial services industry, has entered into an alliance with leading regulatory and compliance software specialist STB Systems.
Through the new relationship, TLC barracuda customers will be able to automate Basel II reports and local regulatory requirements with STB-Reporter, without the need for any additional systems. STB-Reporter, STB's regulatory reporting system, provides a comprehensive addition to TLC's barracuda solution for any financial institution.
The barracuda solution calculates regulatory capital under Basel II and assures minimum capital requirement through expert optimisation of exposure and mitigation. Barracuda also provides a full range of components to enable the implementation of approaches for the Internal Capital Adequacy Assessment Process (ICAAP). Barracuda provides a predefined, Basel II specific, data taxonomy and acts as the data "concentrator" for all the data from disparate source systems required to properly calculate RWA under Basel II. Barracuda has been fully integrated with key banking systems such as Temenos.
Data from barracuda will automatically feed STB-SuperConsolidator, STB's data management tool, and populate regulatory Basel II reporting forms. In addition, clients can maximize their regulatory reporting by mapping data from core banking systems to STB-SuperConsolidator to provide the full range of statistical and supervisory reporting required by their local regulator. STB are regulatory vendors of choice for many core banking system vendors.
As Keith Eden, Executive Chairman of TLC Risk Solutions explains, the agreement forms part of TLC's strategy to provide best of breed solutions to its customers; "International regulations mean that all financial institutions have complex regulatory compliance reporting issues. STB-Reporter is by far the best solution in the marketplace today and this combined with the simple interface to TLC's Risk Solution, barracuda, enables our joint customers to maximise the benefits from the combined reporting solution."
Commenting on the agreement, Michael Thomas, Group CEO at STB Systems said: "We are delighted that TLC has chosen our market leading STB-Reporter system to partner with. TLC and its barracuda product suite are already proving to have an impressive reputation in the Basel II marketplace and we look forward to working with them."