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UK’s OneSavings Bank selects Lombard Risk’s regulatory reporting platform

BBR Staff Writer Published 02 November 2017

UK-based OneSavings Bank has selected Lombard Risk Management’s regulatory reporting platform, AgileReporter, which will help to streamline regulatory reporting, data management and analytics.

As part of a 10-year contract, the regulatory reporting platform will help the bank to collect significant management information and analytics around trends and variances for audits and approvals.

AgileReporter will also allow the bank to track and prove its compliance with all relevant PRA, FCA, BofE and EBA reporting requirements.

The platform includes advanced data management tools, which allow end to end processing to meet timeliness of reports.

It helps to cover key regulatory ratios, including capital adequacy, liquidity coverage ratio (LCR), large exposures, leverage and other computations.

AgileReporter also offers graphical presentation of all ratios, variances and trends for management insight into key issues for improved management reporting.

OneSavings Bank regulatory reporting head Cameron Joe said: “We looked at a range of different regulatory reporting platforms and Lombard Risk offered the best solution to fully streamline our regulatory reporting and ensure we are on time, regulated, and compliant.

“As a growing FTSE 250-listed bank we wanted to build a scalable, reliable and technology rich foundation that provides the flexibility to adapt and develop as we grow the business and our product offerings.”

Lombard Risk regulatory strategy head James Phillips said: “We’ve been a RegTech pioneer for a long time, and it’s rewarding to see forward-looking companies such as OneSavings Bank investing in systems and processes already suited for the further evolution of the reporting industry.”

Image: Lombard Risk Management is providing its regulatory reporting platform to OneSavings Bank. Photo: courtesy of Stuart Miles / FreeDigitalPhotos.net.