FinArch Signs Bank of India for Financial Studio Compliance
Bank of India has selected FinArch’s compliance solution, Financial Studio, to address its compliance requirements. Bank of India, the first public sector bank to establish a foreign branch, having 24 foreign offices in 12 countries, is currently expanding rapidly while opening new offices in Belgium, China, Vietnam, Tanzania and Qatar. The Financial Studio compliance solution selected by Bank of India provides an integrated regulatory reporting solution that allows banks to gradually step up and take on different business drivers such as compliance, capital management, accounting and MIS. According to FinArch, Financial Studio eases the burden of regulatory reporting for financial institutions as it complies with the reporting requirements of central banks, monetary authorities, and other financial regulators in multiple countries, as well as with the global IAS directives and Basel II requirements.