FRSGlobal

6/11/2009

FRSGlobal enters FinTech 100

Risk reporting and regulatory reporting provider among top 100 financial technology vendors around the world

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London and New York - 6th November 2009: FRSGlobal, the only global provider of risk reporting and regulatory reporting compliance solutions on a unified platform with coverage for over 40 countries, today announced that it has been placed among the top 100 financial technology vendors in FinTech 100, an annual listing of the top financial technology vendors around the world ranked by American Banker, Bank Technology News, and IDC Financial Insights.

The top 100 ranking was compiled from fiscal year end revenue and the percentage of revenue attributed to financial services, as well as from data gathered from vendor surveys, independent research, and market analysis conducted by Financial Insights. View the complete list »

Steve Husk, CEO of FRSGlobal, commented: "FRSGlobal has seen an increased demand for its risk management and regulatory reporting solution to address the rigorous and changing demands of regulators - not just to report what has already happened, but what is likely to happen going forward. An example of this type of reporting is the new FSA liquidity rules relating to stress testing that require the powerful analysis capabilities of the FRSGlobal RiskPro solution and the reporting capabilities provided by RegPro. We have the right people and products to make sure that our customers will be prepared in advance for this wave of new regulation."

Recently, the Senior Supervisors Group (SSG) that comprises senior financial supervisors from seven countries (United States, Canada, France, Germany, Japan, Switzerland, United Kingdom), highlighted how weaknesses in risk management and internal controls contributed to industry distress during the financial crisis and, among other failings, and that inadequate and often fragmented technological infrastructures at most firms hindered effective risk identification and measurement.

Husk continued: "To be recognised as one of the leading financial technology companies globally reflects our approach of providing a single solution that financial firms can use to cost effectively manage risk and sustain regulatory compliance."