Belgium's Financial Architects (FinArch) has signed Bank of India to its automated financial reporting and compliance software.
FinArch says the bank has licensed its Financial Studio compliance system, which offers standard and certified regulatory reporting functions, based on pre-defined reporting templates.
The system complies with the reporting requirements of central banks, monetary authorities and other financial regulators in multiple countries, as well as with global IAS directives and Basel II requirements.
Fernand Hansotte, manager of IT at Bank of India says the bank settled on the product on the basis of recommendations of other Indian banks operating out of Belgium.