Financial Architects, a provider of finance resource planning platform for the finance industry, has announced that Bank of India has selected Financial Studio to address its compliance requirements.
The Financial Architects (FinArch) Financial Studio compliance solution selected by Bank of India provides an integrated regulatory reporting solution that allows banks to gradually step up and take on different business drivers such as compliance, capital management, accounting and management information systems.
Fernand Hansotte, Manager of IT at Bank of India, commented: We are very happy to work with Financial Architects. This firm was known to us since very long as their products are also used by other Indian banks in Belgium. With FinArch, we have been able to produce our reporting statements without any problem and their product is showing entire satisfaction to us. We hope to have a long business relation with FinArch for our mutual benefit.
Frederic Simons, VP of regional development at FinArch, said: We are very pleased that Bank of India chose us amongst other vendors to meet their compliance challenges. Our Financial Studio compliance solution gives Bank of India full integrity and control to every stage in the reporting process thanks to its complete audit trail evidence. It enables the bank to leverage financial information with great flexibility and analytical depth, while preserving high standards of data integrity and completeness.