In late December 2009, The Fortuna Bank licensed the Reporting as a Service (RaaS) Solution of Siemens IT Solutions and Services Finance. The decision was a result of the complete service offered and the favorable cost/performance ratio of the offered services.

Fortuna Bank is a Luxemburgish Private Bank based on the company form of registered cooperative, established in Luxemburg in 1920. The bank’s service philosophy is based on the basic principle that every customer is an individual and so Fortuna provides an individual service adapted to every single client needs, as a home-owner or a tenant. The Bank has decided to outsource its Legal Reporting activities towards CSSF and BCL to Siemens in order for its employees to focus better on what is important for them: care for their customers individual needs.

Siemens IT Solutions and Services Finance s.a. (PSF) is known in Luxemburg as a leading provider of IT solutions and services. It covers the entire IT service chain from a single source, from consulting to system integration, right through to the management of IT infrastructures and applications as well as the outsourcing of whole Business Processes (BPO). For the Legal Reporting (RaaS) service, hosted in Siemens IT Solutions and Services Finance private Data Centers, it leverage its overwhelming experience in infrastructure management as well as its long experience in application management. Riskpartner is a Risk Management Consultancy Company specialized in the domain of Legal/Regulatory reporting. More generally, Riskpartner supports its customers in area of Risk assessment, regulatory reporting in risk and financial reporting, asset management, compliance with regulatory requirements, IT and Data organization.

The two partners; Siemens IT Solutions and Services Finance and Riskpartner, have created the RaaS solution to guide the Luxemburgish financial institution in the maze of reporting obligation thus reducing their need to adapt their IT-systems when new reporting obligation are known. Indeed, Siemens IT Solutions and Services Finance and Riskpartner will take care of that for them.