Resources for Basel II Capital Accord (Basel II)

Bank Degroof selects FinArch’s Financial Studio Solution and FRP Vision

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Financial Architects nv, an international provider of a Finance Resource Planning (FRP) platform for the finance industry, today announced that Bank Degroof has acquired Finarch’s Financial Studio to provide a fully independent and automated “compliance” platform which includes a.o. Basel II calculations and business simulations. Bank Degroof is the largest private bank in Belgium, and has branches in Belgium, Luxembourg, Switzerland, Spain, France, and the Netherlands.

Bank Degroof saw the value of the completeness and excellence of FinArch’s solution as well as their subject expertise. After detailed research, workshops, and a comprehensive evaluation of internal and external alternatives, Bank Degroof decided to step into implementing their strategic vision for the benefits of both business and IT departments.

Financial Studio is the first fully integrated finance resource planning (FRP) solution for banking and financial institutions. Unlike generic ERP (Enterprise Resource Planning) systems, Financial Studio solves the specific needs of the finance sector and addresses all the factors involved in the convergence of risk management and accounting practices across all banking and financial disciplines. Financial Studio’s ‘out-of-the-box’ functionality, with its highly customisable modules and scalable database, allows for rapid deployment of any sized project, from small local implementations to full-scale enterprise-wide solutions on a global basis. A suite of generic, or foundation, modules underpin the power and security of the Financial Studio FRP solution. These include an industry standard data model, highly flexible multi-dimensional reporting hierarchies, powerful archiving tools, audit trail and historical information management, and rule-based engines.

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