FRSGlobal, the provider of risk and regulatory reporting solutions announced its associate partnership with Korean financial technology solution provider, STI CS. Under the alliance partnership, STI CS will promote FRSGlobals unified risk and profitability analysis solution, RiskPro, and its regulatory reporting solution, RegPro, to Korean banks with overseas business units that face constant regulatory changes to their reporting requirements.
STI CS is also marketing RiskPro to Korean banks that have silod systems for risk management. STI CS will work with local system integrators to implement RiskPro on areas such as project management, ETL, report building, localisation and documentation.
Since the Asian currency crisis in 1997, Korean banks have implemented risk management systems very successfully and are now focusing on improving the quality of their risk management practices, says Donnie Choi president, STI CS. We are also seeing an increase in the amount of regulatory reporting that is demanded of Korean firms particularly those who have overseas operations. FRSGlobal is in a prime position to serve both of these business issues and we are very happy to use our strong presence in Korea to help grow their footprint in the region.
STI CS joins our network of esteemed partners as a trusted and experienced vendor in Korea, says Steve Thurley, Vice president APJ. The teams in-depth knowledge of the Korean market place and also their early adoption of the liquidity requirements similar to those in London mean that STI CS and FRSGlobal will have a powerful relationship and product offering for this market. I am looking forward to working with them and making this partnership a complete success.
STI CS joins FRSGlobals Associate Partner programme which contains firms who are active in the financial services sector and recognise the benefit to their clients of a comprehensive and unified risk and regulatory solution. FRSGlobal works with Associate Partners on an informal, even project-based, basis to provide firms with advice and solutions on risk and regulatory issues.
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