FRSGlobal has released ReportBuilder TNG – the new web-based version of FRSGlobal’s product for non-technical business users to build consolidated risk and regulatory reporting applications. Reporting applications defined in ReportBuilder TNG are produced under the full control of FRSGlobal’s ReportGenerator, a robust engine that automates the production of regulatory reports.
The ability to create internal (management) and external (regulatory) reports from a single data source is a requirement moving higher up the regulatory agenda, as demonstrated by Basel II and its subsequent reviews. Further to this, working on the same validated data source not only lets financial institutions comply with regulations, but also provides detailed and accurate insight into their business.
With ReportBuilder TNG, firms have the ability to create reporting applications to run:
- Principle-based reports for regulators.
- Prescriptive reports for countries over and above the 40 that FRSGlobal already provides.
- Internal management information system (MIS) style reports to support regulatory reports.
- Non-banking regulatory reports (e.g. for tax authorities).
- Head office reports that contain 80% of the information submitted to regulators plus 20% internal information.
Kieran Leahy, senior vice president product management, said: “Preventative measures to ensure that a financial crisis of this magnitude does not occur again all have one common denominator – all levels of the business need to have a deeper insight into the organisation’s inner workings. This new version of ReportBuilder makes it even easier for financial institutions to gain full visibility into their business by allowing the creation of a vast range of reports drawn from a single version of the truth.”
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