FRSGlobal Expands Regulatory Reporting Software and Expertise for Securities Firms
FRSGlobal has announced the acquisition of regulatory reporting specialist BusinessObjects SECAM+, from Business Objects, an SAP company. FRSGlobal provides solutions across the retail, corporate and securities sectors, which complements the specialised capabilities of SECAM+ in regulatory reporting for the UK securities industry. The SECAM+ solution enables UK-based investment firms to meet regulatory reporting demands of the Basel Capital Accord, as stipulated by the Financial Services Authority.
The acquisition strengthens FRSGlobal’s strategic relationship with SAP, offering FinancialAnalytics as a core part of the SAP BankAnalyzer global solution. FRSGlobal FinancialAnalytics is an SAP-endorsed business solution and complementary to the SAP® Bank Analyzer set of applications for finance and risk management and the SAP NetWeaver® Business Intelligence (SAP NetWeaver BI) component.
SECAM+ customers include some of the largest and most prestigious multi-national financial institutions across Europe, North America and Asia. A considerable amount of research and development is also invested in Japan and Korea. The addition of SECAM+ enables FRSGlobal to supplement its existing regulatory reporting offering as well as providing a variety of strategic benefits – including the acquisition of a specialist firm, high-calibre new clients and a head-start into the Japanese and Korean markets.
The deal represents the second acquisition for FRSGlobal in recent months, following its purchase of IRIS integrated risk management AG – a provider of risk management solutions – in August 2008, which enabled FRSGlobal to introduce the first combined risk and regulatory reporting solution for financial services. The deal is supported by The Carlyle Group and Kennet Partners, the private equity investors in FRSGlobal.