Unicredit Group to Use FinArch Solution in Spain
Financial Architects (FinArch) has announced that Unicredit Group has selected its solution to meet the Spanish regulatory requirements. Unicredit will use the Financial Studio Compliance solution to facilitate submission of the Posición de no Residentes (PNR) to the Bank of Spain. FinArch says that a specific benefit of the solution to multi-national banks as Unicredit Group is that the solution is in house and allows them to interchange reporting information, as all reporting is processed on the same platform. With this single system Unicredit’s local branches will be able to generate reports that need to be submitted to the local regulator on the one hand. And on the other hand, it will facilitate their reporting on a consolidated level.
Financial Compliance comes as a standalone reporting solution, or as an integral part of Financial Studio. Financial Studio Compliance 3.0 caters for all sizes of institution and is installed in a variety of types of institution, from retail and corporate to more complex Investment, Securities and broker institutions. Financial Studio Compliance 3.0 is scalable and serves for reporting purposes in multiple jurisdictions from a single implementation complete with automated consolidation of group reporting obligations. The technical architecture of the solution is ASP ready, supporting the provision of reporting bureau services and complete ‘managed service’ reporting facilities.