FRSGlobal

20/04/2010

Three new firms in Gulf region to select FRSGlobal to meet DFSA regulations

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Dubai - 20 April, 2010

FRSGlobal, the industry-recognised leader in content-rich solutions for unified global regulatory reporting and risk management, today announced that in the first quarter of 2010, three new banks in the Gulf region have selected its regulatory reporting tool, RegPro, to automate regulatory reporting, including a leading bank in Qatar and two new category one banks in the UAE, operating under the jurisdiction of the Dubai Financial Services Authority (DFSA).

UAE category one banks are required to produce a large set of inter-related regulatory reports, which RegPro enables them to submit within the timeframes set out by the DFSA. With the addition of these firms to the FRSGlobal client base, UAE reports will be added to the extensive portfolio of standard international country reports FRSGlobal already provides.

These implementations will enable each of the banks to improve the efficiency of its international reporting operations and will provide a potential platform for wider deployment including risk profitability with RiskPro, FRSGlobal’s risk management tool. RiskPro provides analysis across multiple risk types: Asset Liability Management (ALM), Liquidity, Market, Credit, Basel II, IFRS, Solvency II, Funds Transfer Pricing and Economic Capital, and is fully integrated with RegPro.

For more information on FRSGlobal solutions in the Middle East »

Roy Barnes, Head of Operations Middle East, FRSGlobal stated:

"We are very proud to include these important international organisations among the prominent international banks that profit daily from our world-leading reporting and risk applications. In today’s intense post-crisis environment it is more important than ever to be able to be compliant with rapidly changing global regulatory requirements with a cost-effective solution, as provided through the FRSGlobal subscription service. In addition, the FRSGlobal platform will facilitate extensions as the risk and regulatory environments evolve with the inevitable forthcoming regulatory change."

Contact Roy Barnes on This e-mail address is being protected from spambots. You need JavaScript enabled to view it .

FRSGlobal’s RegPro consists of:

• A single repository of validated data originating from a wide range of source systems – 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, content-rich software that automates the generation of risk and regulatory reports using standard templates and pre-defined libraries of stress tests and models – ReportGenerator;
• Fully defined automated regulatory reports for multiple countries - ReportGlobal;
• The ability to define internal management-style - or reports for new business areas – fully reconcilable with external regulatory reports: ReportBuilder;
• A library of submitted regulatory reports with the ability for audit through full drill-down/up functionality for rapid investigation into how the figures were derived (by internal or external bodies).