Regulatory reporting solution for financial institutions in Switzerland, Liechtenstein and the Bahamas
Banks and securities brokers active in Switzerland and Liechtenstein must periodically report to the authorities. FiRE is an established software in use for 25 years that supports entirely automated reporting to the Swiss National Bank (SNB), the Swiss Financial Market Supervisory Authority (FINMA) and the Liechtenstein Financial Market Authority (FMA).
FiRE is a tried-and-tested solution successfully used for reporting by approximately 230 banks in Switzerland, Liechtenstein and The Bahamas, making it the market leader in regulatory reporting in those countries.
FiRE, launched in 1994 with the introduction of Basel I reporting requirements, supports banks and securities brokers active in Switzerland, Liechtenstein and The Bahamas with automated regulatory reporting to the Swiss National Bank (SNB), the Swiss Financial Market Supervisory Authority (FINMA) and the Liechtenstein Financial Market Authority (FMA). It also covers reporting requirements under Basel III.
As a tried-and-tested solution, FiRE uses data from the bank’s back-office and performs the necessary calculations (e.g. risk weighting, country ratings). It then creates the reports in the required forms, additionally allowing for the production of individual statistics for internal reporting.
Banks and securities brokers can count on and profit from BearingPoint’s experience with regulatory authorities. Regular updates of the software cover ever-changing and new rules and regulations, keeping the software always up-to-date. As little as possible is changed in order to keep costs to a minimum and to allow for the reuse of data for different reports.
FiRE covers the following reports for Switzerland
FiRE additionally covers the following reports for Liechtenstein:
FiRE covers the following reports for The Bahamas:
FiRE uses the reporting software Report Generator and MS SQL Server as a database. The standard interface RT1 delivers a balance sheet, off-balance sheet, customer securities and an income statement to FiRE.
FiRE is an easy to-use, highly-effective and very reliable legal reporting solution and provides a wide range of functionalities:
Functionalities regarding Basel III requirements: