Australia and New Zealand Banking Group (ANZ) has chosen FRSGlobal’s regulatory reporting tool, RegPro, to be implemented across 12 countries in Asia-Pacific and Japan (APJ) as the bank increases its presence as a regional bank.
Initially RegPro will be rolled out to ANZ Bank’s Indonesia, China, Singapore, Taiwan, Hong Kong, Vietnam, Japan, India, Philippines, South Korea and Cambodia offices. The bank has options to roll out RegPro into South Pacific, Australia and New Zealand at a later stage.
ANZ will be able to address global regulatory requirements, which consist of:
- A single repository of validated data originating from a plethora of source systems – DataFoundation. One central solution, capable of extracting data from multiple systems into one physical location faces the four data challenges: availability, movement, consolidation and quality.
- Easy-to-use software that automates the generation of risk and regulatory reports – ReportGenerator.
- Fully defined regulatory reports for 40+ countries – ReportGlobal – with a guarantee to keep them in line with regulators’ requirements which, in the current climate, will ease the regulatory burden on financial institutions.
- The ability to define new country or internal management-style reports – ReportBuilder – a library of submitted regulatory reports and the ability for audit, with full drill-down/up functionality for quick investigation into how the figures were derived.