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November 20, 2009 Deploys Compliance Solution From FinArch

To support its regulatory reporting and growth

By CBR Staff Writer, a Belgium-based electronic payment issuer to financial institutions and mobile operators, has implemented Financial Architects’ (FinArch) Financial Studio Compliance (FSC). As a provider of electronic money, is subject to reporting obligations to the Belgian regulator. To comply with these requirements, it has selected Financial Studio.

FinArch claimed that FSC solution enables banks and financial institutions to meet regulatory demands for stricter compliance, while gaining business benefits by improving reporting flows, return on IT investment and turning compliance into a cost-saving exercise. It offers standard and certified regulatory reporting functions, based on pre-defined reporting templates.

The solution can be used as an integrated part of any financial studio solution or as a stand-alone module, meeting all compliance requirements for financial reporting in key areas like regulatory reporting, Basel II compliance reporting, liquidity risk reporting and IFRS compliance reporting.

Jean Zurstrassen, CEO and co-founder at, said: “For an ambitious company as, it is vital to have solutions that offer ease of use as well as flexibility. FinArch’s technology and scalability of their offering convinced us as it fits well in our growth plans.”

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Siegfried Van Puyvelde, director of customer relationship at FinArch, said: “Obviously, FinArch is very proud to team up with It demonstrates our added value to the entire financial industry, from retail banks and private banks over investment banks and securities firms to players in the electronic payment industry. With our flexible and extensible solution, has selected the right provider to support their regulatory reporting and growth.”

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