FRSGlobal, part of Wolters Kluwer Financial Services, is expanding its operations with the acquisition of the regulatory reporting business from its former partner in the region, KPMG Czech Republic, and the launch of a central and eastern Europe (CEE) hub in Prague, Czech Republic.
FRSGlobal has worked in partnership with KPMG Czech Republic over the past 15 years, providing some of the largest local banks and branches of foreign banks with support and software modules necessary for regulatory reporting, such as those stipulated by Czech National Bank (CNB), National Bank of Slovakia (SNB) and Ministry of Finance (MF).
KPMG Czech Republic’s regulatory reporting team will join FRSGlobal’s European division and continue to supply the FRSGlobal unified platform for regulatory reporting and risk management together with the local report parameterisation for Czech Republic and Slovakia to its current large installed base and new upcoming prospects.
Kris Van Bavel, vice president Europe, Middle East and Africa (EMEA) North, FRSGlobal, said: “Central and eastern Europe has been a key area of focus for quite some time and is part of our global strategy to increase our international presence combined with the local solutions and competences. So it is logical that we set up a hub, where we can significantly ramp up our operations and increase our presence also towards other countries in the CEE region. Both for local and international banks we will be able to better respond to the increasing business needs of regulatory reporting and risk management.”
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