Bank of China Luxembourg has recently opened a branch in Belgium to serve its Chinese and European customer base.
According to the FinArch, the Financial Studio Compliance solution will enable Bank of China to meet regulatory demands for stricter compliance, while gaining additional business benefits by improving reporting flows, improving return on IT investment, and turning compliance into a cost-saving exercise.
The Financial Studio Compliance module offers standard and certified regulatory reporting functions, based on pre-defined reporting templates.
The solution also can be used as an integrated part of any Financial Studio solution or as a stand-alone module, meeting all compliance requirements for financial reporting in key areas of regulatory reporting, Basel II & III compliance reporting, IFRS compliance reporting, liquidity risk compliance reporting.
Financial Studio Compliance is integrated in FinArch’s Financial Studio FRP platform which embraces accounting, risk & capital management, MIS and compliance requirements.
Bank of China accountant Ian Hutschinson said that with the maze that regulatory financial reporting has become FinArch’s software has been a guiding light enabling the bank to fulfill the obligations in an efficient and effective manner.
