products

Compliance solutions

Banks and financial institutions today face more and more challenges in handling increasingly complex compliance requirements. Financial Studio's compliance solution enables you 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.

Financial Studio's compliance module offers standard and certified regulatory reporting functions, based on pre-defined reporting templates. It can be used as an integrated part of any Financial Studio solution or as a stand-alone module, meeting all your compliance requirements for financial reporting in these key areas:

Regulatory reporting

  • automated compliance with reporting requirements from regulatory authorities, management, and head offices,
  • helps to ensure the accuracy and integrity of financial reports while increasing reporting efficiency,
  • automated population of reports using a flexible, user-driven allocation wizard,
  • maintains report formatting and validation rules within the system,
  • includes updates whenever changes are imposed by the regulatory bodies.

Basel II compliance reporting

  • support for Basel II / Pillar 3 reporting in different jurisdictions,
  • Basel II / Pillar 3 relates to credit risk exposures before and after credit risk mitigation and is broken down by industry sectors, asset classes, maturity bands, and countries,
  • other standard reporting functions include actual versus expected loss reports, impaired and defaulted loans, and distribution of externally rated obligors to internal risk grades, exposures by LGD grades, and risk grade and eligible collateral EAD totals by collateral type.

IFRS compliance reporting

  • includes all relevant IFRS requirements for both internal and external reporting,
  • provides extended audit trail and drill down functionality,
  • automates the workflows involved with preparing IFRS accounts and statements.

The increased use of IFRS is not limited to public listed companies. Many regulatory and government bodies are now also looking to IFRS to fulfil local financial reporting obligations and to provide the guidelines for statutory and regulatory reporting.

Sarbanes-Oxley Act (SOX)

Financial Studio's compliance solutions contain a broad range of internal reporting controls, information security functions, performance management functions, and financial reporting capabilities.

When used properly, these provide many of the features required by an organisation’s CEO and CFO for managing financial reporting risks and certifying financial statements and internal controls under the Sarbanes-Oxley Act.

Want to be compliant quickly and swiftly ? Contact us.