FRSGlobal Enters FinTech 100
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LONDON and NEW YORK, NY -- (MARKET WIRE) -- 11/06/09 -- FRSGlobal, the only global provider of risk reporting and regulatory reporting compliance solutions on a unified platform with coverage for over 40 countries, today announced that it has been placed among the top 100 financial technology vendors in FinTech 100, an annual listing of the top financial technology vendors around the world ranked by American Banker, Bank Technology News, and IDC Financial Insights.
The top 100 ranking was compiled from fiscal year end revenue and the percentage of revenue attributed to financial services, as well as from data gathered from vendor surveys, independent research, and market analysis conducted by Financial Insights. To view the complete list visit http://www.americanbanker.com/btn_issues/22_11/top-100-companies-in-fintech-1003458-1.html.
Steve Husk, CEO of FRSGlobal, commented: "FRSGlobal has seen an increased demand for its risk management and regulatory reporting solution to address the rigorous and changing demands of regulators -- not just to report what has already happened, but what is likely to happen going forward. An example of this type of reporting is the new FSA liquidity rules relating to stress testing that require the powerful analysis capabilities of the FRSGlobal RiskPro solution and the reporting capabilities provided by RegPro. We have the right people and products to make sure that our customers will be prepared in advance for this wave of new regulation."
Recently, the Senior Supervisors Group (SSG) that comprises senior financial supervisors from seven countries (United States, Canada, France, Germany, Japan, Switzerland, United Kingdom), highlighted how weaknesses in risk management and internal controls contributed to industry distress during the financial crisis and, among other failings, and that inadequate and often fragmented technological infrastructures at most firms hindered effective risk identification and measurement.
Husk continued: "To be recognised as one of the leading financial technology companies globally reflects our approach of providing a single solution that financial firms can use to cost effectively manage risk and sustain regulatory compliance."
FRSGlobal is the only provider of risk reporting and regulatory reporting solutions on a unified platform with a single data model.
FRSGlobal solutions are a combination of modules from RegPro and RiskPro, sharing a single DataFoundation and CalculationEngine, and content (global data model and report definitions):
-- RiskPro provides profitability analysis across the following risk
types: Asset Liability Management (ALM), Liquidity, Market, Credit, Basel
II, IFRS/IAS32 and 39, Solvency II, Funds Transfer Pricing and Economic
Capital.
-- RegPro enables financial institutions to address major regulatory
reporting and compliance requirements locally and globally - with reports
for more than 40 countries.
-- Subscribing clients benefit from the FRSGlobal Guarantee, which
ensures the regulatory reports are maintained in line with the Regulators'
requirements.
-- FRSGlobal Centre of Risk & Regulatory Excellence monitors risk and
regulatory activities in 100+ countries.
FRSGlobal has nearly 20 years of industry expertise and its solutions are used in over 1500 financial organisations -- including 41 of the top 50 global banking institutions. It is owned by the Carlyle Group and Kennet Partners.
FRSGlobal is headquartered in Brussels with a further 19 other offices in North America (Boston, New York and Toronto), Europe (Amsterdam, Brussels, Dublin, Lisbon, London, Luxembourg, Madrid, Paris, Zurich, Lausanne, Warsaw and Cluj-Napoca (Romania)), Dubai and Asia Pacific and Japan (Hong Kong, Pune and Singapore).
COMPANY CONTACTS FRSGlobal Lauren Dearmer PR Manager Tel: +44 (0) 20 7539 6525 Email: Email Contact US PR CONTACT FRSGlobal Michael Kane Tel: (978) 698-7602 Email: Email Contact
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