Banque ENI, the Belgian financial services branch of the Italian energy multinational Eni, has selected Financial Architect’s (FinArch) Financial Studio solution for Basel II calculations and reporting (COREP) to ensure compliance by the end of the year.
Banque ENI has selected an integrated approach to Basel II compliance, using pre-defined data for Basel II calculations to produce the Basel II compliance reports according to the supervisors’ regulations.
This allows financial institutions to simplify the Basel II implementation process in the following way: (1)Install the software (2)Capture the data required from the source systems (3)Start the Basel II calculation engine (4)Produce the Basel II compliance reports and test the results.
“We have been working with Banque Eni for a couple of years already and are obviously pleased with the confidence our customers have in FinArch being a trustworthy business partner for financial management and reporting solutions for the finance industry. We obviously look forward to further develop long-term relationship with Banque Eni,” says Frdric Simons, vice president of Regional Development at FinArch.