With this new release, Financial Studio, FinArch's Finance Resource Planning (FRP) platform, contains new features and product enhancements which provide an upgraded user experience, improved calculative and reporting capabilities, which will make it easier for banks to leverage the platform to meet their strategic, operational and regulatory objectives. Today banks face more and more pressure from the international and local regulators, Financial Studio Suite 4.0 will deliver a platform to address these issues and help provide better insight into business risk, liquidity, balance sheet and profitability.
Financial Studio is a comprehensive integrated Risk and Finance solution based on a single version of the truth in data terms, i.e. a common core Financial Data Architecture. Based on the Finance Resource Planning (FRP) concept, the solution provides complete functionality for the management of the entire accounting chain, enterprise risk management function and internal and external reporting obligations. The Financial Studio suite consists of integrated solutions for IAS/IFRS, General Ledger, Sub-ledger, Trading Ledger, Liquidity Risk, ALM, Basel II, Basel III, E-Cap and Regulatory Reporting as either discreet components or as a totally integrated solution. Financial Studio has gained, and continues to gain, rapid and world-wide recognition as the definitive future platform for integrated risk and finance for financial institutions. FinArch's constantly expanding client base to date includes 7 out of the top 10 world's largest banks. For two consecutive years, Financial Studio has been awarded Market Leader for risk and finance integration by Chartis Research.
"FinArch is excited to launch this new version of our much awarded flagship Financial Studio. In the current context of heightened regulations, severe demands on IT infrastructure and data have increased exponentially. Banks are urged to make fundamental improvements and investments in this area." says Dirk De Beule, Chief Executive Officer at FinArch. "As a market leader in our niche, it is our imperative to empower them with state-of-the-art integrated risk and finance software solutions. With Financial Studio, our clients can focus better on their core business and on how to maximise their profit."
"Financial institutions are in need of strategic software solutions that enhance transparency across business and technology silos. Counting the largest banks in the world amongst its client base, FinArch meets this unique need." says Joe Pagano, Managing Director, Banking and Capital Markets, Worldwide Financial Services, Microsoft. "FinArch continues to invest in its software, people and clients. Financial Studio 4.0 represents the most recent example of how banks can benefit from FinArch's ongoing investments to obtain a flexible and user-friendly solution based upon the latest Microsoft technology. And, meanwhile, they solve for today's complex requirements, including those of Basel III and IFRS. FinArch is a go-to solution provider for any financial institution that needs to meet these regulatory standards."
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