Anticipating the Basel IA NPR this summer, Financial Architects (FinArch), says it is ready to deliver a packaged Basel IA software solution for the so called non-Basel II US banks. This offering is based on components of FinArch’s Financial Studio FRP solution that also includes a Basel II application.
FinArch says its Basel IA solution aims to enable US banks to implement Basel IA knowing that, even if the rules change, as anticipated, their software investment will provide them with the flexibility to meet the regulator’s future requirements and not be at a disadvantage when Basel II kicks in.
The Basel IA solution can be integrated with FinArch’s own Fed regulatory reporting package, streamlining the regulatory reporting process from data sourcing, to production, to filing.
“We are extremely pleased to offer our Basel IA software solution, part of our Financial Studio FRP solution suite, to the non-Basel II banks in the US,” says Alex Lambrinides, VP North America Sales at FinArch. “Our existing finance, Basel I & Basel II experience and expertise gives us great confidence that our offering will minimize the actual cost of implementing Basel IA and will also help banks reduce their future cost of compliance, enhance the quality of their data, and ultimately reports, whilst focusing on competitive advantage.”