ING Bank London Branch, the wholesale banking business, will implement Microgen Aptitude in its finance division to provide visibility into their reporting and auditing processes to allow them to meet regulatory demands, such as International Financial Reporting Standards (IFRS). Aptitude is expected to deliver tangible business benefits within six months.
Aptitude provides business users with the ability to define the business rules associated with accounting and reporting logic for complex financial investments via its graphical interface. Its workflow and exception management tools increase automation and provide a more flexible environment for responding to shifting banking requirements.
“Microgen has invested extensively in Microgen Aptitude and our accounting and reporting solutions for investment banks, enabling the move to principle based regulation by means of a financial rules engine that is designed for change. Microgen Aptitude also delivers the high volume transaction throughput and transaction integrity required in financial services today. Full audit trailing and transparency enables clear oversight of controls and processes required by current and emerging legislation,” said Elizabeth Sipiere, managing director finance, Microgen.
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