One of Portugal’s largest financial groups, Banif Financial Group, chose BRSANALYTICS to automate the regulatory reporting process in their local branches. Banif Bank (Malta) plc started operating in 2008 and established themselves as one of Malta’s key players in the banking sector. The Bank required a solution which could allow them to adapt to new regulatory reporting requirements while minimising pressures on their IT and Finance resources.
Robert Ancilleri, Head of Finance and Back-Office Operations said that BRSANALYTICS significantly shortened the regulatory reporting process and that it “offered added functionality that would assist management in monitoring key performance and regulatory indicators on a regular basis with a view to improve decision-making”. Mr Ancilleri added that the Bank was now “looking forward to start reaping the results of the investment in terms of time and costs in the months to come”.
BRSANALYTICS delivered several business benefits for the Bank and they are currently in the process of implementing the Banking Rule 06 returns. Moreover, works will soon commence on the new reporting regime which emanated from the Capital Requirements Regulation (EU) 575/2013 and Directive 2013/36/EU.
