Crédit Agricole Selects FinArch's Compliance Solution
Crédit Agricole has selected FinArch’s Financial Studio compliance solutions to replace its current compliance solution and to answer its reporting requirements for COREP (Basel II), FINREP (IAS/IFRS) and Belgian regulatory reporting. Financial Studio covers relevant IAS/IFRS requirements for both internal and external reporting, provides extended audit trail and drill down functionality and automates the workflows involved with IFRS accounts and statements preparation. The solution supports Basel II/Pillar 3 reporting as it relates to credit risk exposures before and after credit risk mitigation and includes a variety of standard reporting functions. Financial Studio enables automated compliance with reporting requirements from regulatory authorities, management, and head offices as it helps to ensure the accuracy and integrity of financial reports while increasing reporting efficiency, automates reports population using a flexible, user-driven allocation wizard, maintains report formatting and validation rules within the system, and includes updates whenever changes are imposed by the regulatory bodies.