Financial Architects (FinArch), international provider of a Finance Resource Planning (FRP) platform for the finance industry, today announced that DnB NORD Group has selected Financial Studio as the core platform to satisfy its IFRS accounting and local regulatory reporting requirements in six countries.
Having already selected Financial Studio as its Strategic Global Capital Management Platform earlier this year, IFRS accounting and local regulatory reporting functionality will be delivered by the same common platform and single source of data.
Financial Studio offers risk management and MIS calculation and reporting functionality, which ensures the bank to be regulatory compliant. At the same time, the Financial Studio Finance Resource Planning (FRP) platform provides accounting functionally for IFRS coupled with an integrated regulatory reporting capability.
“We are focused towards leveraging information technology to the benefit of the business user, in this case, our Risk, Finance and Compliance teams across the DnB NORD Group.” says Robin Oberst, IT Projects Manager at DnB NORD Group in Copenhagen. “As part of a strategic transformation initiative it makes perfect sense to implement an integrated solution to meet our Finance Resource Planning needs, both now and for the longer term. We look forward to broadening our relationship with our colleagues from FinArch.”
Nigel Lee, Vice President Global Business Development for FinArch adds: “The DnB NORD Group relationship is of considerable importance to FinArch and we very much look forward to a long term partnership with our colleagues in the bank.”