Lombard Risk Management has joined forces with Oracle Financial Services to launch a global regulatory reporting solution that automates the end-to-end process for regulatory reporting.
Dubbed Oracle Financial Services Regulatory Reporting Solution (OFSRRS), the new solution combines Oracle’s Financial Services Data Foundation (FSDF) compute engines with Lombard Risk’s regulatory reporting solution (AgileREPORTER).
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The solution offers full data lineage to help companies showcase regulators how they arrived at reporting numbers and complied with regulatory norms, Lombard Risk said in a statement.
The company added that OFSRRS addresses BCBS 239 principles of governance and architecture, risk data aggregation, risk reporting, and supervisory review to help banks get a comprehensive view of risk exposures across business lines and legal entities.
Lombard Risk CEO Alastair Brown said: "Utilising the Lombard Risk and Oracle solution enables multi-jurisdiction institutions to establish a global regulatory report production platform, integrated with full granular data lineage and drill-down.
"This brings to market a powerful and comprehensive data-driven approach to regulatory reporting backed by sound methodology which is a truly exciting proposition."
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