FRSGlobal, a provider of risk and regulatory reporting solutions, has partnered with Korean financial technology solution provider, STI CS. Under the alliance partnership, STI CS will promote FRSGlobal’s unified risk and profitability analysis solution, RiskPro, and its regulatory reporting solution, RegPro, to Korean banks with overseas business units that face constant regulatory changes to their reporting requirements.
STI CS is also marketing RiskPro to Korean banks that have siloed systems for risk management. STI CS will work with local system integrators to implement RiskPro on areas such as project management, extract, transform, and load (ETL), report building, localisation and documentation.
Donnie Choi, president, STI CS, said: “Since the Asian currency crisis in 1997, Korean banks have implemented risk management systems very successfully and are now focusing on improving the quality of their risk management practices. We are also seeing an increase in the amount of regulatory reporting that is demanded of Korean firms – particularly those who have overseas operations. FRSGlobal is in a prime position to serve both of these business issues and we are very happy to use our strong presence in Korea to help grow their footprint in the region.”
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