Are you ready for the new FSA Liquidity Stress Testing Requirements? FERNBACH launches the solution
FlexFinance Analytix Liquidity Stress Testing solution conquers challenges of Data Mapping, Stress Testing and Risk Reporting
London, 10 June 2009 – The FSA has recently released a series of consultation papers defining its liquidity standards. Its third Consultation Paper (CP) 09/14 'Strengthening liquidity standards 3:Liquidity transitional measures' and Consultation Papers (CP) 08/22 and (CP) 09/13, call for all financial institutions to comply with the regulation by 2010. To meet such needs, FERNBACH, the leader in financial and compliance reporting, today releases its Liquidity Stress Testing Solution, a part of the FlexFinance Analytix suite.
FlexFinance Analytix is designed to help FERNBACH’s customers meet compliance on new regulations including the new liquidity regime, as well as to translate internal modeling needs from concept to production rapidly, reliably and in a cost effective manner. The product also includes pre-defined data requirements and report templates for the new liquidity standards issued by the FSA.
Suhas Nayak, Product Director at FERNBACH, says, “We have built our platform from our long expertise in liquidity risk and reporting to meet the challenges set out by the FSA and the Turner Report. Stress testing is not only essential for banks right now; it is the absolute starting point to meeting FSA compliance standards. We want to give our clients a quick, straight-forward, cost-effective solution which takes this problem out of their hands.”
One of the challenges set out by the new standards is in being able to bring disparate information together quickly and use this information in a new way. FlexFinance Analytix has a rich library of data interfaces with a wizard like data mapping interface that enables non-technical users to quickly and easily map data from existing systems. This reduces the dependency on IT or development resources to deliver data in specific formats.
Furthermore, FlexFinance Analytix helps integrate and aggregate cash flow and transaction data from various systems across a firm. Data brought together by FlexFinance Analytix can be used for purposes beyond stress testing such as internal risk reporting, providing clients with a platform upon which to build its risk infrastructure.
Unlike other providers, FERNBACH has always treated management of unexpected and extreme liquidity risks as complementary to traditional Asset/Liability Management. The combination of comprehensive and mature software along with expert professional services and consulting skills make FERNBACH an ideal qualified partner.
About FERNBACH
FERNBACH is a global leader of analytical solutions for the finance industry. Modular software bundles for Multi-GAAP accounting, risk, compliance and lending enable our customers to optimise business processes.
FERNBACH offers a sophisticated component-based solution portfolio which ensures faster time to market and rapid implementation of banking requirements thus mitigating risk and ensuring quality.
Our customers worldwide benefit from our combined expertise to overcome challenges and to provide solutions for future success. FERNBACH innovates to maximise the performance of our clients.
