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Press Release
Banque Cantonale de Genève (France) SA selects FRSGlobal to support its regulatory compliance in France
Brussels, Belgium – 1st 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 Banque Cantonale de Genève (France) SA (BCGEF), has selected FRSGlobal to support its regulatory reporting requirements.
The bank has selected FRSGlobal to produce its regulatory reports such as:
- Système Unifié de Reporting Financier (SURFI);
- Committee of European Banking Supervisors (CEBS) Common Reporting Framework. (COREP);
- Reporting Banque de France:
- Risk centralisation reporting (CENTRA);
- Cross-border payments reporting;
- Quarterly security-by-security data collection (PROTIDE);
- Cross-border payments reporting;
- Questionnaire Lutte contre le Blanchiment (QLB) – Anti-money laundering questionnaire.
The bank selected FRSGlobal’s RegPro after a thorough evaluation of the market. The bank has also signed up for FRSGlobal Regulatory Update Service to stay up-to-date with future regulatory change.
Christophe Sabara, ITO Manager, BCGEF added: “The prerequisites for us when we sought a provider of regulatory reporting were to have a dedicated team to support us in the implementation phase and beyond, a system that meets our technical standards and a supplier with a proven track record of success. In addition, the solution had to meet the evolving regulatory constraints without additional IT costs over the medium term. FRSGlobal meets all these requirements. We look forward to when the operational implementation of the overall perimeter will be effective in the middle of 2011.”
Stephane Jauffret, Regional Manager France & Africa at FRSGlobal said: “We are very proud to start this new collaboration with Banque Cantonale de Genève (France) SA in order to facilitate the production of regulatory reports and assist them with their financial compliance in France. The fact that the bank undertook an exhaustive assessment of the market once again demonstrates the real value of our solution and range of services. This signature also adds to the leading position of FRSGlobal that was recently reinforced by the success of our existing French customers adopting our SURFI solution.”
FRSGlobal’s regulatory reporting solution comprises:
- A single repository of data originating from a plethora 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 software that automates the generation of risk and regulatory reports for both internal, MIS-style management reporting as well as formalised external, regulatory reports;
- Fully defined automated regulatory reporting application for 40+ countries with the FRSGlobal Regulatory Update Service to help keep them in line with regulators' requirements which, in the current climate, significantly eases the regulatory burden on financial institutions.
About FRSGlobal
FRSGlobal, which became part of Wolters Kluwer Financial Services in September 2010, is an industry-recognised leader in unified global regulatory reporting and risk management solutions. These solutions, which are enriched with content including pre-defined regulatory reports and stress testing libraries, are employed daily across the globe by firms to meet increasingly complex external (regulatory) and internal (management) reporting obligations.
FRSGlobal solutions are a combination of in-depth content and modules from RegPro and RiskPro, sharing a single DataFoundation and CalculationEngine on a unified platform.
About Wolters Kluwer Financial Services
Wolters Kluwer Financial Services is a comprehensive regulatory compliance and risk management business that helps financial organizations manage operational, compliance and financial risk and reporting, and improve efficiency and effectiveness across their enterprise. The organization’s prominent brands include: FRSGlobal, ARC Logics for Financial Services, PCi, Compliance Resource Network, Bankers Systems, VMP® Mortgage Solutions, AppOne®, GainsKeeper®, Capital Changes, NILS, AuthenticWeb™ and Uniform Forms™. Wolters Kluwer Financial Services supports its global customers with offices in more than 20 countries and is a leading worldwide provider of compliance and risk management solutions for the financial services industry, serving more than 15,000 banking, insurance and securities customers across the globe.
Wolters Kluwer Financial Services is part of Wolters Kluwer, a leading global information services and publishing company with annual revenues of (2009) €3.4 billion ($4.8 billion) and approximately 19,300 employees worldwide. Please visit our website for more information.
About Banque Cantonale de Genève (France) SA
With its headquarters in Lyon and a branch in Annecy and Paris, Banque Cantonale de Genève (France) SA is a 100%-owned BCGE subsidiary. It offers company finance and property services to companies and individuals, in addition to wealth management for private clients. BCGE France is a logical and efficient feature of a dynamic economic zone that is taking shape between Lyon and Geneva. The French subsidiary benefits from the support of the parent company in the area of refinancing. Banque Cantonale de Genève (France) SA employs 40 people.
COMPANY CONTACTS
FRSGlobal
Lauren Dearmer, PR manager
Tel: +44 20 7539 6525
Email: lauren.dearmer@frsglobal.com
