FFIEC News

IDOM and i-flex Solutions Partner to Offer Comprehensive Regulatory Reporting Capability for Banks

(Nov 15, 2007)-- IDOM, provider of banking automation products and management consulting services
to the financial sector, has announced an agreement with i-flex solutions, pioneer in providing IT solutions to the financial services industry. IDOM's industry leading regulatory reporting software --REG-Reporter will be positioned for regulatory reporting requirements in North America along with FLEXCUBE, i-flex's market leading core banking solution.

"We couldn't be more pleased with this partnership," states Vincent Raniere, President & CFO of IDOM, Inc. "The combination of i-flex solutions as the global leader in banking software solutions coupled with IDOM as the leader in regulatory reporting is a partnership that is destined forsuccess."

"Regulatory reporting is constantly evolving and is a huge challenge for Banks to comply with multiple complex reporting requirements. The partnership with IDOM enables us to offer a unified tool as part of our FLEXCUBE solution suite. We are quite pleased to go to market with IDOM and reduce the regulatory pain-points of our customers," said George Thomas, Vice-President, Customer Fulfilment & Solution Architecture, i-flex solutions.

REG-Reporter completely automates the labor intensive, inefficient regulatory reporting process, end-to-end, mitigating the risks associated  with manual report preparation. It automates compliance with reporting
requirements to federal and state regulatory authorities and bank management, helping to ensure the accuracy and integrity of financial reports while increasing the efficiency of reporting. In summary,
REG-Reporter combines data from all of a bank's source systems (or data warehouse) into a central data repository, where key information is translated into standardized data. The resulting data is then compiled into
required report formats recognized by regulatory agencies such as the Federal Reserve Bank.

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