 "Wolters Kluwer Helps Banks Meet RBI Guidelines")
Wolters Kluwer Financial Services, a worldwide provider of risk, compliance and audit solutions for the financial services industry, is helping provide banks in India with regulatory compliance solutions to meet the Reserve Bank of India’s (RBI) guidelines.
In order to help Indian banks improve technology efforts in the area of regulatory reporting, Wolters Kluwer Financial Services’ FRSGlobal, hosted a seminar on “Managing risk and compliance in India.” Through the seminar, Wolters Kluwer Financial Services’ FRSGlobal showed how technology can help compliance officers from leading banks in India ensure efficient and cost-effective compliance processes to meet with RBI’s mandates.
The RBI has released draft guidelines outlining the proposed implementation of Basel III capital regulation and liquidity standards in India with the objective of improving risk management and governance as well as strengthening transparency and disclosure standards relating to regulatory capital. Theresa Supremo, Domain Expert, FRSGlobal, Wolters Kluwer Financial Services, outlined key strategies for banks operating in India to manage risk in the new Basel III environment.
“Basel III has emerged as a key factor in India’s regulatory landscape. As banks in India move towards meeting the guidelines for implementation of Basel III, how they leverage technology will be key in ensuring timeliness, accuracy and cost-efficiency,” says Theresa Supremo, Domain Expert, FRSGlobal, Wolters Kluwer Financial Services.
“For more than 20 years, FRSGlobal has provided leading enterprise risk and global regulatory reporting solutions. We are confident that FRSGlobal’s international expertise will help enable banks in India to effectively meet with RBI’s regulatory framework,” she added.
Globally, Wolters Kluwer Financial Services, FRSGlobal, the arm of the business focused on financial risk management and regulatory reporting provides solutions to 41 of the top 50 global banks. The FRSGlobal regulatory reporting solution is designed to help banks comply with the RBI guidelines on collation, analysis, generation and submission of data, in an accurate and timely manner. Four banks in India have adopted this solution to comply with the RBI’s Automated Data Flow guidelines.
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