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FinArch expands footprint in Spain by signing Unicredit Group


Ghent/Madrid – May 06 2009. Financial Architects (FinArch), international provider of a Finance Resource Planning (FRP) platform for the finance industry, today announced that Unicredit Group has selected its solution to meet the Spanish regulatory requirements.

Unicredit Group has selected FinArch’s Financial Studio Compliance solution to facilitate submission of the PNR (Posición de no Residentes) to the Bank of Spain. The scalable solution will enable the Group flexible reporting in this ever changing regulatory environment. Specifically beneficial to multi-national banks as Unicredit Group, they have now a sophisticated solution in house that allow 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 which 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.

The Head of Bayerische Hypo-und Vereinsbank, AG, Sucursal en España (part of Unicredit Group), comments: “For Unicredit Group it was important that the selected vendor had proven experience with Spanish regulatory reporting, and FinArch clearly has this. Moreover, their highly advanced strategic solution impressed us very much. And, in addition, FinArch’s offering will also allow us to grow in the future without the need to re-visit the solution selection process.”

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 easily serves for reporting purposes in multiple jurisdictions from a single implementation complete with automated consolidation of group reporting obligations. The robust technical architecture of the solution is ASP ready, supporting the provision of reporting bureau services and complete ‘managed service’ reporting facilities.

Frédéric Simons, VP Regional Business Development says: “Spain and our Spanish customers are a very important part of FinArch’s business and we are excited that we continue to add value to new customers in the region.”

Financial Studio Compliance is integrated in FinArch’s Financial Studio FRP platform which embraces accounting, risk management, MIS and compliance solutions, and is used by numerous financial institutions worldwide. FinArch is also positioned as a leader in Gartner’s Magic Quadrant for Basel II software applications. The company’s focus coupled with a solution that can be scaled to meet broader corporate performance management, has thus been recognised by the global financial markets.


For more details, please contact:

Frédéric Simons
VP Regional Development

Financial Architects s.l.
c/Anabel Segura
10. Planta 1
28108 Alcobendas Madrid
Spain


tel: +34 91 183 36 80
email: press.office@finarch.com


About Financial Architects

FinArch (Financial Architects nv), with offices in the major financial centres worldwide, is a global value leader in providing a new generation of risk and financial management software. FinArch provides a unique blend of domain expertise, operational services, and technology solutions that accelerate and facilitate financial institutions’ ambition to implement a cost effective and reliable financial management platform. The concept of the platform and the integrated approach of FinArch's different modules enable innovative financial institutions to quickly implement tactical solutions meeting the overall strategic objectives in financial reporting.

FinArch's flagship Financial Studio solves the specific needs of the finance sector and addresses all the factors involved in the convergence of risk management and accounting practices across all banking and financial disciplines. Financial Studio is the first fully integrated finance resource planning (FRP) solution for banking and financial institutions.

www.finarch.com


Publisher Contact Information:

Financial Architects (FinArch)
+34 91 183 36 80
press.office@finarch.com

Company profile of FinArch (acquired by Wolters Kluwer Financial Services)
Past press releases of FinArch (acquired by Wolters Kluwer Financial Services).

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