OneSavings Bank installs regulatory reporting tech
Written by Anthony Strzalek
OneSavings Bank has selected Lombard Risk Management to install a new regulatory reporting platform.
The challenger bank has signed a 10-year licence for Lombard’s AgileReporter platform, which will enable it to gather key management information and analytics around trends and variances for audits and approvals.
It will also enable OneSavings Bank to track and prove its compliance with all relevant PRA, FCA, BofE and EBA reporting requirements using Lombard Risk’s end-to-end reporting solution.
Cameron Joe, head of regulatory reporting at OneSavings Bank, said: “We looked at a range of different regulatory reporting platforms and Lombard Risk offered the best solution to fully streamline our regulatory reporting and ensure we are on time, regulated, and compliant.
“As a growing FTSE 250-listed bank we wanted to build a scalable, reliable and technology rich foundation that provides the flexibility to adapt and develop as we grow the business and our product offerings.”
James Phillips, head of regulatory strategy at Lombard Risk, added: “We are delighted that OneSavings Bank has chosen Lombard Risk as its partner. We’ve been a RegTech pioneer for a long time, and it’s rewarding to see forward-looking companies such as OneSavings Bank investing in systems and processes already suited for the further evolution of the reporting industry.”