Attijariwafa bank selects FRSGlobal to support its regulatory compliance across six countries

Casablanca, Morocco - 24 January 2011

--Largest bank in Morocco centralises regulatory reporting in Spain, Italy, France, Belgium, Netherlands and Germany with FRSGlobal--

FRSGlobal, part of Wolters Kluwer Financial Services, a leading worldwide provider of compliance and risk management solutions for the financial services industry, today announced that Attijariwafa bank, the largest bank in Morocco and third largest in Africa, has made FRSGlobal the regulatory reporting ‘provider of choice’.

The bank has selected FRSGlobal’s consolidated risk and regulatory platform to produce its regulatory reports for Spain and Italy, complementing its existing reporting for France, Belgium, Netherlands and Germany, as announced in 2009. In addition Attijariwafa bank Europe has selected FRSGlobal to deliver internal management reporting more efficiently.

Youssef Koun, Project Manager at Attijariwafa bank Europe, added: “The successful implementation of FRSGlobal’s platform in France and Belgium was a key deciding factor for us to deploy the same technology in the four other countries within a four month timeframe. Their breadth of coverage, regulatory update service and impressive collaboration with our implementation team are just three of the reasons why we consider FRSGlobal to be our strategic compliance partner to support our development all over Europe.”

Stephane Jauffret, Regional Manager France & Africa at FRSGlobal said: “We are very proud to extend our collaboration with Attijariwafa bank to now cover a total of six countries in Europe. This new signature is yet another proof point behind our global data model, which allows firms who operate in multiple countries to easily extend their regulatory reporting coverage. The additional decision to choose FRSGlobal to deliver their internal reporting means that the bank can truly benefit from our “single version of the truth” approach to reporting and enables the bank to harness financial intelligence across their enterprise.”

FRSGlobal’s regulatory reporting solution comprises:

• A single repository of data originating from a plethora of source systems – DataFoundation. One central solution, capable of extracting data from multiple systems into one physical location faces the four data challenges: availability, movement, consolidation and quality;
• Easy-to-use software that automates the generation of risk and regulatory reports for both internal, MIS-style management reporting as well as formalised external, regulatory reports;
• Fully defined automated regulatory reporting application for 40+ countries with the FRSGlobal Regulatory Update Service to help keep them in line with regulators' requirements which, in the current climate, significantly eases the regulatory burden on financial institutions.

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