FRS Chosen by HBOS; Agrees Deal with i-flex
HBOS has licensed FRS’s FinancialAnalytics solution to streamline its UK regulatory reporting requirements covering the new Profit & Loss (PL) and Effective Rates (ER) reports. FRS FinancialAnalytics will automate the bank’s regulatory compliance reporting requirements and help to ensure the accuracy and integrity of the bank’s financial reports, said FRS. Separately, FRS and i-flex solutions have announced a global agreement to address the regulatory reporting requirements for banks. The agreement is aimed at banks to reduce the cost and complexities associated with compliance by providing a streamlined reporting solution for the delivery of required regulatory reporting data between financial institutions and central banks. Under the terms of the agreement, i-flex will promote FRS solutions to their customers around the world.