As Indian banks brace themselves for Basell III, they will need
to pay adequate attention to technology for it will determine
how effectively they are able to meet the global banking norm, says
Wolters Kluwer Financial Services, a global provider of risk,
compliance and audit solutions for the financial services
In order to help Indian banks improve technology efforts in the
area of regulatory reporting, Wolters Kluwer Financial
Services’ FRSGlobal, hosted a seminar on titled
“Managing risk and compliance in India” in Mumbai,
earlier this week. The seminar aimed at showing how technology can
help compliance officers from leading banks in India ensure
efficient and cost-effective compliance processes to meet with
Present at the event was Theresa Supremo, Domain expert –
FRSGlobal, Wolters Kluwer Financial Services, who 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. 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,” said Supremo.
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
Four Indian banks have already adopted this solution to comply
with the RBI’s Automated Data Flow guidelines.
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