Bank of Cyprus UK has selected Lombard Risk Management’s AgileREPORTER solution for delivering automated regulatory reporting.
AgileREPORTER, which will replace the bank’s existing regulatory reporting solution, will offer automated reporting for multiple regulators through a single platform.
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Lombard Risk Management said that the solution will offer comprehensive coverage of the bank’s capital, statistical and liquidity reporting requirements for local and European regulators.
The solution will also automate end-to-end reporting from the acquisition of data through calculation, formatting as well as submission, the technology provider added.
Bank of Cyprus UK CFO Andrew Michaelides said: "As complex regulatory requirements continue to evolve, a comprehensive, automated reporting solution is a must, to simplify and accelerate the reporting process and reduce operational risk. We selected Lombard Risk because their solution meets our needs and they have established expertise in this area."
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