KPMG in Singapore and Lombard Risk, the dedicated global provider of regulatory reporting and collateral management solutions, have today announced the launch of the KPMG Regulatory Integrated Solution (KRIS) through a strategic alliance, to help financial institutions automate and fulfil mandatory regulatory reporting obligations in an agile, accurate and cost-efficient manner.
KRIS is a cloud-based regulatory technology (RegTech) offering between the two organizations, powered by Lombard Risk AgileREPORTER®, the strategic regulatory reporting solution trusted by over 200 financial institutions globally. KRIS is designed for banks seeking an end-to-end reporting solution which can help save as much as 50% of their time in complying with the relevant regulatory returns prescribed by the Monetary Authority of Singapore (MAS), including the new MAS Notices 610/1003 (“Notices”). The Notices mandate banks to collect, prepare and report significant amounts of data, which put a further burden on banks’ resources and budgets.