FRSGlobal, a provider of risk and regulatory compliance solutions and BBVA Compass, have entered into an agreement. According to it, FRSGlobal’s risk and regulatory platform will assist BBVA Compass in compiling its regulatory reports that are filed with the bank’s US banking regulators.
Reportedly, the FRSGlobal solution enables BBVA Compass to automate 48 weekly, monthly, quarterly, biannual, and annual reports required by the Federal Reserve, Federal Deposit Insurance Corporation (FDIC), Federal Financial Institutions Examination Council (FFIEC), Department of Commerce, and Department of Treasury.
Chris Butler, senior vice president of financial reporting, BBVA Compass, said: “FRSGlobal’s risk and regulatory platform will help us streamline our processes designed to meet our regulatory reporting requirements.”
