Bache Commodities Ltd, the London based commodity trading branch of the North American Prudential Group, has selected FinArch’s Financial Studio application for Basel II calculations and regulatory reporting for FSA IRR.
Finarchs software package includes both a sophisticated calculation engine and a complete regulatory reporting service. The software combined with the knowledge and experience of FinArch’s staff in the area of Basel II and reporting, is a powerful resource specifically for commodity trading.
FinArch’s Basel II application can be extended to incorporate a range of extensive internal and external reporting capabilities. Financial Studio is a broad application for the Finance and Risk function. Functionality for both Risk and Finance is provided in a single application using a common finance and risk data warehouse.
FRP allows banks to progressively transform their finance and risk back office, removing the constantly changing pressure of regulatory change from the critical path of business operations. While solving immediate needs such as Basel II and regulatory reporting, Financial Studio provides a platform for progressive strategic transformation.
“Basel II is not just about regulatory reporting, it requires an in depth knowledge of Capital Management and a strong understanding of our customer’s business. FinArch has established itself as a global leader in the area of Basel II and Capital Management. Our new relationship with Bache Commodities is significant both in terms of our growth in all areas of banking and finance, and also as an affirmation of our continued growth in the UK,” says Nigel Lee, chief commercial officer, FinArch.
FinArch’s Basel II application enables the banks to meet regulatory demands for stricter compliance, while at the same time gaining additional business benefits by improving reporting flows, increasing return on IT investment, and turning compliance into a cost saving exercise.
It also supports expansion from a Basel II Standardised Approach into IRB. And as it shares a common data model with the more advanced Financial Studio capital management solutions, it ensures a smooth transition to an advanced risk package, or to a complete Finance Resource Planning (FRP) platform, in case the bank should wish to embrace one integrated application that leverages the convergence between compliance, accounting, MIS, and risk management issues.