Bank of China (Luxembourg) Brussels branch has selected FinArch’s Financial Studio to meet the Belgian compliance requirements. The bank recently opened a branch in Belgium to better serve its growing Chinese and European customer base in the capital of Europe.
Ian Hutchinson, accountant at Bank of China, said: “With the maze that regulatory financial reporting has become, FinArch’s software has been a guiding light enabling us to fulfil our obligations in an efficient and effective manner. The time saved by using FinArch’s software has enabled us to focus more of our time on growing our core business. Focusing on the software itself we find it user friendly. Financial Studio contains some nice features such as the audit trail and validation rules.”
FinArch’s Financial Studio Compliance solution enables banks and financial institutions to meet regulatory demands for stricter compliance, while gaining additional business benefits by improving reporting flows, improving return on IT investment, and turning compliance into a cost-saving exercise. The Financial Studio Compliance module offers standard and certified regulatory reporting functions, based on pre-defined reporting templates. It can be used as an integrated part of a Financial Studio solution or as a stand-alone module, meeting all compliance requirements for financial reporting in these key areas: regulatory reporting, Basel II & III compliance reporting, IFRS compliance reporting, liquidity risk compliance reporting, etc.
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