By using FRSGlobal, the bank will manage compliance with regulations set out by the People’s Bank of China, the China Banking Regulatory Commission and the State Administration of Foreign Exchange.
With the help of the solution, the bank will also manage foreign currency account reporting and balance of payment reporting and various operational reports, including anti-money laundering reports.
Bank of Taiwan first representative Yen Quei Tien said that in order to ensure the smooth opening of the bank’s new branch in Mainland China, it needed a reliable systems in place.
"This was particularly important for regulatory reporting operations as there is a strong need to adhere to stringent directives in an accurate and timely fashion," Tien said.
