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|Oracle and Lombard Risk Announce a Global Regulatory Reporting Solution|
|Thursday, 31 March 2016|
Lombard Risk Management and Oracle Financial Services have collaborated to deliver a global regulatory reporting solution.
Oracle Financial Services Regulatory Reporting Solution (OFSRRS) provides a single solution which automates the end-to-end process for regulatory reporting. The solution, which integrates Oracle’s Financial Services Data Foundation (FSDF) compute engines with Lombard Risk’s regulatory reporting solution (AgileREPORTER), provides full data lineage so companies can prove to regulators how they arrived at reporting numbers and meet regulatory requirements. It frees up in-house resources to refocus away from report compilation to the generation of business insight from the increasing volume of data produced to meet regulatory demands.
The integration not only helps banks address regulatory reporting requirements, but addresses BCBS 239 principles of governance and architecture, risk data aggregation, risk reporting, and supervisory review to help them achieve a comprehensive view of risk exposures across business lines and legal entities.
Alastair Brown, Lombard Risk’s Chief Executive Officer added: “End-to-end regulatory reporting automation has eluded the industry for years. 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.”
Lombard Risk is a Gold level member of Oracle PartnerNetwork (OPN).
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