An international financial services provider is to expand its use of Lombard Risk’s regulatory reporting solution, REPORTER, to meet its regulatory obligations in China, according to Lombard Risk Management plc.

The group has a widely distributed user base with multiple branches across Asia. After successfully completing the replacement of a core banking system and creating a powerful data warehouse in Singapore, they reviewed the range of regulatory submission processes that were in use at several branches (Hong Kong, Japan, Indonesia, Singapore and Shanghai) and selected Lombard Risk to provide an automated and standardised solution across its regional operations.

Lombard Risk’s regulatory solution for Shanghai will meet the three key regulators’ demands in China: CBRC, SAFE and PBOC – enabling the firm to prepare reports for its “full bank branch” operations in China. The submissions to the Chinese regulators have previously been made through a combination of manual processes and spreadsheets, and Lombard Risk’s REPORTER solution will automate this process by calculating the returns using data in the Asia Pacific data warehouse ‘hub’ in Singapore and submitting them electronically.