FRSGlobal is a part of Wolters Kluwer Financial Services, a provider of compliance and risk management solutions for the financial services industry.
It RegPro solution provides the scalability to FCB to support its overseas branch in Singapore from Taipei.
Through the solution, the bank will also be able to control the process from start to finish – from taking data from the originating source systems through to submitting the reports to the regulator.
By migrating FCB from its legacy platform, the bank will be able to benefit from an increased level of automation and a reduction in complexity when submitting regulatory reports to the MAS.
Some of the features of the RegPro, that will be benefited by the FCB include: a single repository of data originating from a source system DataFoundation. One central solution, capable of extracting data from multiple systems into one physical location faces the four data challenges: availability, movement, consolidation and quality and easy-to-use software that automates generation of regulatory reports – ReportGenerator.
The features also include ReportGlobal, a fully defined regulatory reports for 40+ countries, with regulatory update service to keep them in line with regulators’ requirements; the ability to define new country or internal management-style reports – ReportBuilder; and a library of submitted regulatory reports and the ability for audit, with full drill-down/up functionality for quick investigation into how the figures were derived.
