BNP Paribas Uses FRSGlobal to Support its Regulatory Reporting in Russia
BNP Paribas Corporate and Investment Banking (CIB) has signed a contract to implement FRSGlobal FinancialAnalytics software to handle its regulatory reporting in Russia. The bank needed a solution to combine the complex Russian reporting requirements and facilitate its global reporting process. FRSGlobal was selected due to its proven expertise in compliance reporting and its approach to supporting BNP Paribas’ current business and future business in Russia. The software enables banks to standardise and consolidate their procedures while automating risk and regulatory reporting across multiple countries and regulatory entities. Users are able to control this process from beginning to end, from taking data from the source systems through to sending the reports to the regulator. Russia will become the tenth European country where BNP Paribas has implemented the FinancialAnalytics software. Previously, the solution was implemented in Belgium, Germany, Poland, Hungary, Ireland, Portugal and the Netherlands; Greece and Spain are the next countries where the software will be rolled-out.