BBVA Compass and FRSGlobal have entered into an agreement under which FRSGlobal’s consolidated risk and regulatory platform will assist BBVA Compass in compiling its regulatory reports that are filed with the bank’s US banking regulators.
The FRSGlobal solution enables BBVA Compass to automate 48 weekly, monthly, quarterly, biannual, and annual reports required by the Federal Reserve, Federal Deposit Insurance Corporation (FDIC), Federal Financial Institutions Examination Council (FFIEC), Department of Commerce, and Department of Treasury.
Chris Butler, senior vice president of financial reporting at BBVA Compass, said: “FRSGlobal’s risk and regulatory platform will help us streamline our processes designed to meet our regulatory reporting requirements. In addition to increasing our efficiency, with the FRSGlobal suite of services we’ll be able to more quickly adjust to changes in reporting requirements.”
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