SINGAPORE--(BUSINESS WIRE)--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 JPMorgan Chase Bank, N.A has chosen its web-enabled local regulatory reporting solution for Hong Kong and Singapore.
JPMorgan Chase, N.A. selected FRSGlobal after a selection process in which many factors were assessed including completeness of regulatory content, depth of subject matter expertise, capability to provide content update services, strength of web-enabled capabilities, and references from other financial institutions.
Steve Thurley, VP Asia Pacific and Japan (APJ), FRSGlobal commented: “Over the last two years FRSGlobal’s country coverage in APJ has grown from three to nine countries. The addition of JPMorgan Chase Bank, N.A. to our client base will increase this coverage further. We are delighted to be working with JPMorgan Chase in this region and that they have selected our content-rich, web-enabled solution.”
FRSGlobal solutions are enriched with content including pre-defined regulatory reports and stress testing libraries, and are employed daily across the globe by firms to meet increasingly complex external (regulatory) and internal (management) reporting obligations. With the new web-enabled technology FRSGlobal’s customers benefit from the following functionality from any web browser:
- A single repository of validated data originating from a plethora of source systems - DataFoundation
- Regulatory reporting solution: enables financial institutions to address major regulatory and compliance requirements locally and globally – at branch and head office level.
- Unified risk and profitability analysis solution: provides profitability analysis across the following risk types: Asset Liability Management (ALM), Liquidity, Market, Credit, Basel II, IFRS, Solvency II, Funds Transfer Pricing and Economic Capital.
- Subscribing clients benefit from the FRSGlobal Regulatory Update Service, which ensures the regulatory reports are maintained in line with the regulators’ requirements.
- FRSGlobal Centre of Risk & Regulatory Excellence monitors risk and regulatory activities around the world.
About Wolters Kluwer Financial Services
Wolters Kluwer Financial Services is a comprehensive regulatory compliance and risk management business that helps financial organizations manage operational, compliance and financial risk and reporting, and improve efficiency and effectiveness across their enterprise. The organization’s prominent brands include: FRSGlobal, ARC Logics for Financial Services, PCi, Compliance Resource Network, Bankers Systems, VMP® Mortgage Solutions, AppOne®, GainsKeeper®, Capital Changes, NILS, AuthenticWeb™ and Uniform Forms™. Wolters Kluwer Financial Services supports its global customers with more than 30 offices in 20 countries and is a leading worldwide provider of compliance and risk management solutions for the financial services industry, serving more than 15,000 banking, insurance and securities customers across the globe. Wolters Kluwer Financial Services is part of Wolters Kluwer, a leading global information services and publishing company with annual revenues of (2010) €3.6 billion ($4.7 billion) and approximately 19,000 employees worldwide. Please visit our website for more information.
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.1 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.