Attijariwafa Bank Europe selects FRSGlobal to support its regulatory reports in France, Belgium, Netherlands and Germany
FRSGlobal, the only global provider of risk and regulatory reporting […]
April 3, 2009
FRSGlobal, the only global provider of risk and regulatory reporting solutions with coverage for over 30 countries on a unified platform, announced on April 3rd that Attijariwafa Bank Europe, European subsidiary of the largest banking group in Morocco and sixth largest in Africa, has chosen FRSGlobal’s consolidated risk and regulatory platform to provide its regulatory reports to France, Belgium, The Netherlands and Germany.
The FRSGlobal solution will support Attijariwafa Bank Europe with any future compliance requirements all through the same platform, saving the bank invaluable time and investment in selecting, procuring, interfacing and implementing any additional systems.
The bank has selected FRSGlobal’s “subscription model”, which will protect it from additional expenses in addressing regulatory changes. By adopting the FRSGlobal subscription offering, Attijariwafa bank Europe can also join the ‘compliance community’ provided by the FRSGlobal Centre of Risk & Regulatory Excellence (CoR²E). This community meets regularly to discuss risk and regulatory requirements and enables peers to exchange views which can then be communicated to the regulators.
Stephane Jauffret, Sales Manager for France at FRSGlobal, said:
“We are very pleased to work with Attijariwafa bank to alleviate the pressures of meeting and delivering their reporting needs. The bank was looking to adopt a standard but scalable platform across Europe and FRSGlobal was a natural fit.
“A significant benefit of our solution is the flexibility it affords customers in terms of regulatory changes. This is a substantial fillip for any bank, particularly in the current economic climate, where regulation has never been more discussed, debated or revised. The fact that changes to regulation can be accommodated by our solution without any additional expense marks it out as a distinctive and invaluable solution.”
Youssef Koun, Project Manager at Attijariwafa Bank Europe, added:
“FRSGlobal will provide us with the support necessary to meet our regulatory requirements so that we can focus on our core business of banking. This is absolutely vital given the sweeping regulatory changes that have come, or are expected, across Europe. Implementing the FRSGlobal solution will ensure that we meet or exceed all our associated risk and regulatory requirements.”