More NewsVirgin Money Selects FRSGlobal for Risk and Regulatory Reporting

Virgin Money Selects FRSGlobal for Risk and Regulatory Reporting

Virgin Money has selected FRSGlobal’s unified risk management and regulatory reporting platform across the enterprise ahead of its UK retail banking launch. FRSGloba is now part of Wolters Kluwer Financial Services.

After a thorough selection process, FRSGlobal’s solution was chosen in order to deliver:

  • A unified data centre serving both the risk and regulatory functions.
  • The functional breadth and depth offered by the risk and regulatory solutions.
  • The flexibility to accommodate the requirements of a rapidly-changing risk and regulatory environment.

The bank has selected FRSGlobal’s risk management platform, RiskPro for ALM (asset and liability management), economic capital, funds transfer pricing (FTP), internal capital adequacy assessment process (ICAAP), liquidity, market and credit risk. Alongside this, Virgin Money has selected RegPro, for its UK regulatory reporting requirements including enhanced liquidity reporting, single customer view automation and Financial Services Authority (FSA) and Bank of England (BoE) returns.

Marian Watson, chief risk officer (CRO) at Virgin Money, said: “Virgin Money will aim to provide a real banking alternative to its customers. A crucial part of that is to make sure we have the most reliable, comprehensive and proven technology behind us. This was especially the case when choosing a risk and regulatory platform, as these are two factors that are at the top of the agenda for us.”

Related Articles

Preparing for GDPR? Here’s four things to consider

More News Preparing for GDPR? Here’s four things to consider

3m Elliott Wiseman
Cash flow in focus for investors

Cash Management Cash flow in focus for investors

3m Conor Deegan
Treasury TV: Karen Pugsley, Domino's Pizza Group

More News Treasury TV: Karen Pugsley, Domino's Pizza Group

3m Victoria Beckett
Treasury TV: Yeng Butler compares US and European MMF reforms

Compliance Treasury TV: Yeng Butler compares US and European MMF reforms

4m Victoria Beckett
Treasury TV: Tim de Knegt, The Port of Rotterdam

10 Minutes With The Treasury Treasury TV: Tim de Knegt, The Port of Rotterdam

4m Victoria Beckett
Banks are selling clients short with short dated cash deposit U-turns

Banking Banks are selling clients short with short dated cash deposit U-turns

4m Victoria Beckett
What does sterling’s Brexit boost mean for UK manufacturers?

More News What does sterling’s Brexit boost mean for UK manufacturers?

4m Tasja Botha
FX for corporates: 5 best practices for treasurers

Economy FX for corporates: 5 best practices for treasurers

4m Mateo Graziosi