12th Jun 2015 09:03
LONDON (Alliance News) - Lombard Risk Management PLC Friday said that Sumitomo Mitsui Trust Bank London has gone live with its REPORTER product.
According to Lombard Risk Management, which provides software designed to help financial institutions meet regulatory reporting requirements, SuMi Trust already used its REPORTER product in Singapore to meet regulatory requirements of the Monetary Authority of Singapore and in New York to meet those of the Federal Reserve.
The London branch will now used REPORTER to submit both statistical and prudential reporting to the Bank of England. The product also will be used for reporting to the UK's Financial Conduct Authority.
"We evaluated a number of regulatory reporting systems to meet our UK regulatory reporting requirements. We selected Lombard Risk REPORTER because of its strong track record in the UK and our own success implementing the solution in other overseas locations," Cliff Dowton, Head of IT, SuMi Trust London, said in a statement.
SuMi Trust is part of Japan's Sumitomo Mitsui Trust Group.
Lombard Risk Management shares were untraded on Friday. The stock last traded at 11.00 pence.
By Samuel Agini; [email protected]; @samuelagini
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