Bank of us, a trusted community-based banking provider located in Australia, has selected RegCentric to assist in the implementation of the latest microservices technology from Reg360 and ElysianNxt to assist the bank’s ongoing Risk and Regulatory calculation and submission requirements.
“With increased Australian Prudential Regulation Authority (APRA) scrutiny of data quality in regulatory data submissions, our risk and finance team sourced and implemented technology to best meet this ongoing challenge”, Gerald White, Bank of us Chief Financial Officer explains, “with RegCentric assistance combined with the Reg360 and ElysianNxt technologies, we were able to systemise and submit our capital and credit risk submissions to the regulatory portal in less than 30 working days”.
Reg360, one of Australia’s leading RegTech companies, will be supporting Bank of us end-to-end solution to address the bank’s APRA reporting and Capital and Credit Risk Management requirements. Reg360, in partnership with ElysianNxt, a Belgium/Thailand-based RiskTech provider, have provided an integrated APRA Reporting and Risk Calculation platform delivered in Software as a Service (SAAS).
“Nick Bird, Bank of us Chief Information Officer stated “We saw this opportunity as a low-cost way to take advantage of microservices technology in the latest delivery methods to expedite our technology objectives. Choosing this solution will help support our longer-term technology strategy and help our business and information technology teams stay ahead of APRA’s ever-evolving roadmap.”
ElysianNxt is one of the world’s leading Risk Vendors, bringing real-time computations and analytics for all risk types into a single solution. Built on a microservices architecture to fully leverage the power of Cloud, Reg360 and ElysianNxt support an ecosystem of API-driven applications that bring a modern, scalable architecture into the Risk and Finance Departments.
Reg360 delivers a collaboration platform which forms a central system-of-record for enterprise reporting. The solution supports firms to efficiently prepare and submit all regulatory reporting requirements, including granular data sets, in line with APRA’s 5-year roadmap towards “Comprehensive Data Collections”. Reg360 enhances regulatory reporting governance frameworks and enterprise data governance controls over data ownership, data quality and data lineage.
“Our team are pleased to be supporting Bank of us in their Capital and Credit Risk objectives”, Robert Philipsz, Head of Product at Reg360, said. “Our partnership with Bank of us exemplifies that the latest technology is able to be delivered and supported in an affordable way, providing immediate value by reducing complexity in the process behind Finance and Risk objectives.”