First Commercial Bank goes live with FRSGlobal’s regulatory reporting solution
English
14/02/2011
Singapore branch of FCB now live with RegPro to address changes specified by local regulator
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Singapore - 14th February, 2011: FRSGlobal, part of Wolters Kluwer Financial Services, a leading worldwide provider of compliance and risk management solutions for the financial services industry, today announced that the Singapore branch of First Commercial Bank (FCB) has gone live with FRSGlobal’s regulatory reporting offering.
FCB is now better able to address local regulatory and compliance requirements, including those outlined by the Monetary Authority of Singapore (MAS). RegPro provides scalability to FCB to support its overseas branch in Singapore from Taipei. 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 is able to benefit from an increased level of automation and a reduction in complexity when submitting regulatory reports to the MAS.
Lai Jen-Yu, V.P. & General Manager, FCB, said:"As a highly reputable firm it is essential that we conduct our business within a regulatory environment, which is why we only opt for market-leading technology providers like FRSGlobal. With RegPro, we are confident that we will be well-equipped to handle the ever-evolving regulatory landscape."
Steve Thurley, VP Asia Pacific and Japan (APJ), FRSGlobal, commented: “Despite Singapore’s strong recovery from the economic crisis and the fact that its regulatory environments are some of the most mature and stable in APJ, banks in the city-state still have a number of onerous regulatory reporting requirements to meet. We are very pleased that we can take much of this burden away from FCB and that they can benefit from RegPro’s functionality in order to concentrate on their core areas of business with assurance that their regulatory reporting requirements are taken care of”
With RegPro, FCB will able to benefit from some of the following features:
- 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;
- Easy-to-use software that automates generation of regulatory reports – ReportGenerator;
- Fully defined regulatory reports for 40+ countries – ReportGlobal – with regulatory update service to keep them in line with Regulators' requirements;
- The ability to define new country or internal management-style reports – ReportBuilder;
- 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.
Chinese
新闻发布
第一商业银行（FCB）新加坡分行现启用RegPro，应对当地监管部门的新规定
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新加坡，2010年2月14日: FRSGlobal, 作为威科集团Wolters Kluwer Financial Services, 的组成部分, 它为金融服务产业提供国际领先的验证和风险管理解决方案。今日，该机构宣布第一商业银行新加坡支行已启用FRSGlobal 提供的管制报告.
FCB现在更加符合当地的管制和检验要求,包括新加坡金融管理局(MAS)提出的大綱。RegPro为FCB带来了可测量性，使之实现从台湾对新加坡的海外分行予以支持。银行也能够自始至终控制整个过程 – 即从初始资源系统获取信息一直到向监管方递交报告。FCB从传统的平台转移到新的平台，银行能从更高的自主层面上获益，并在向MAS递交管制报告是减少复杂性.
FCB副总裁兼总经理Lai Jen-Yu说道:"作为一家具有很高声誉的公司，在有规范管制的环境中开展业务是很重要的， 这也是我们为什么只选择FRSGlobal这样的占据市场领先地位的技术供应方的原因。有了RegPro这一技术配备，我们相信自己将能应对日益发展的规范管理."
FRSGlobal亚太地区和日本业务(APJ)副总裁Steve Thurley评论道: “尽管新加坡从经济危机中很好地复苏过来了，而且新加坡的管制环境在亚太和日本属于最为成熟和稳定的，新加坡的各家银行仍需要符合一些负有法律责任的管制报告的要求。我们很高兴我们可以为FCB减轻这方面的负担，而且他们也受益于RegPro所发挥的作用，他们可以放心地把精力集中到业务核心领域，因为管制报告要求已得到了解决”
有了 RegPro， FCB能够从以下几方面受益:
- 源自一个资源系统的单一数据储存库 – DataFoundation一个集中解决方案，能够从多个系统中提取到一个实地来面对数据信息方面的四个挑战：可用性，移动，合并和品质；
- 便于使用的软件，自动生成管制报告 — ReportGenerator；
- 为40多个国家明确定制的管制报告 — ReportGlobal — 带有管制更新服务以确保和管制方要求一致；
- 有能力确立新的国家报告或符合内部管理风格的报告 — ReportBuilder；
- 已递交的管制报告的文库，还具有审计能力，对数据怎样生成可以展开向下和向上深入而快速调查.
FRSGlobal Press-related contact:
Lauren Dearmer
PR Manager
5th Floor
120 Aldersgate
London
EC1A 4GQ
Tel: +44 (0) 20 7539 6525
Mob: +44 (0) 7837 642611
