Financial Architects launches Financial Studio Compliance 3.0

After recent success with Financial Studio and the delivery of […]

August 13, 2008

After recent success with Financial Studio and the delivery of Finance Resource Planning, Financial Architects announces the launch of its latest Compliance solution, Financial Studio Compliance 3.0. With years of investment and experience behind it, Financial Studio is set to change the face of regulatory reporting.

Having successfully delivered Regulatory Reporting solutions in 9 new countries last year, Financial Architects have further enhanced their Compliance offering to meet the needs of an ever more demanding and regulatory conscious market. With new customers in the Baltics, Central and Eastern Europe, the UK and the Asia Pacific Japan regions Financial Architects is set to deliver the solution in another 10 countries as part of several global agreements signed recently.

“The provision of regulatory information for reporting purposes is only as good as its availability. Compliance 3.0 fully adopts Financial Studio’s web-portal services in order to effectively disseminate function and data to every corner of the institution. Compliance 3.0 is fully integrated with Financial Studio, so reporting is based on a single source of the truth irrespective of its nature. The enhanced user experience comes from our sophisticated portal technology but is reassuringly familiar in its use of standard Microsoft tools.”

“Imagine a solution available in so many different flavours that it can meet your needs for reporting however simple or complex they may be? FinREP reporting and CoREP reporting, integrated with a fully IFRS Real-time Event Based Accounting solution and comprehensive (Gartner Magic Quadrant Market Leaders) Basel II and Capital Management solution. Not to mention a whole host of internal reporting functionality, MIS and drillback capabilities. Regulatory Reporting is available ‘off the shelf’ for many jurisdictions in Europe, APJ and North America. ”

“Financial Compliance comes as a standalone reporting solution, or as an integral part of Financial Studio. Available in Lite Edition, Enterprise Edition or Financial Studio Edition, Financial Studio Compliance 3.0 caters for all sizes of institution. Financial Studio Compliance 3.0 is also installed in a variety of types of institution, from retail and corporate to the more complex investment, securities and commodities brokerage type of institution. Financial Studio Compliance 3.0 is scalable and easily caters for reporting in multiple jurisdictions from a single implementation complete with automated consolidation of group reporting obligations. The robust technical architecture of the solution is ASP ready, supporting the provision of reporting bureau services and complete ‘managed service’ reporting facilities. ”

“Regulatory Reporting can no longer rely on out dated, inflexible and tired solutions. Regulatory Reporting has come of age, and demands a sophisticated solution as part of a comprehensive strategic Finance and Risk platform.” Says Nigel Lee, Chief Commercial Officer at Financial Architects. Lee continues, “Regulatory Reporting solutions have to cater for the ever changing regulatory environment. Given the current economic climate and global ‘credit crunch’, institutions are to face more stringent and more demanding regulatory pressures in the coming years. It is vital that institutions implement strategic reporting solutions that not only satisfy the regulator, but solutions that add significant value to the institution both in terms of a clearer understanding of the business and competitive advantage.”

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