FRSGlobal

Leading global investment bank in Hong Kong goes live with FRSGlobal's regulatory reporting solution

18/12/2008

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London, Singapore, 18th December 2008 : FRSGlobal, the only true global provider of risk and regulatory reporting solutions with coverage for 30+ countries on a unified platform, today announced that the Hong Kong branch, the first of its multi-country contract with a leading global investment bank, has successfully gone live with FRSGlobal FinancialAnalytics.

In partnership with the bank, FRSGlobal will also implement its regulatory reporting solution in Singapore, Taiwan and China over the next twentyfour months. The bank has selected FRSGlobal's subscription-based business model, which will see regulatory changes to the reports provided to the bank free of charge as part of FRSGlobal's Regulatory Update Service.

FRSGlobal's regulatory reporting solution enables banks to standardise and consolidate their procedures whilst automating risk and regulatory reporting across multiple countries and entities. Users are able to control this process from beginning to end - taking data from the source systems through to sending the reports to the regulator.

Steve Thurley, VP for Asia Pacific and Japan, FRSGlobal commented: "We are delighted to be working in this region. This is a major commitment that will see us rapidly deploy solutions and enable us to expand further in the Asia Pacific region. We hope to extend this relationship beyond the four named countries over time. I am particularly pleased to have this bank as a client in China as it confirms our commitment to this fast growing market."