IKB Deutsche Industriebank AG selects Financial Studio Combining Outsourced Services

London/Düsseldorf/Madrid – 19 September 2006 - Financial Architects (FinArch), international provider of a Finance Resource Planning (FRP) platform for the finance industry, today announced that IKB Deutsche Industriebank AG (IKB) has outsourced the local regulatory reporting to the Bank of Spain for its Spanish operations to FinArch.

IKB, a specialist in the field of long-term finance, obtained its banking licence for Spain last May, and is thus required to comply with the regulatory reporting requirements of the Bank of Spain. FinArch handles the complete reporting process for IKB Spain, from data input to verification and validation and final report delivery to the authorities. The service includes all communication with the supervisors and management of the latter’s remarks and observations.

“FinArch’s regulatory reporting solution Financial Studio offers IKB full integrity and control to every stage in the reporting process," comments Nigel M Lee, VP Global Sales at FinArch. “It provides the bank with complete audit trail evidence of corrections made to the reports. A combination of our solution and professional reporting services, the bank’s local operations are totally released from the reporting burden. It also enabled us to swiftly organise the reporting setup for IKB Spain, shortly after the opening of their local offices. The deal represents great trust in FinArch’s competence and solutions in IKB’s decision to outsource a very important part of their regulatory obligation.”

"After a thorough review of the various alternatives in the market, we have selected the FinArch’s  solution and services as the best fit to meet our needs,” says Oliver Weichold, Managing Director IKB Spain. “We require a solution that enables us to leverage financial information with great flexibility and analytical depth, while preserving the high standards of data integrity and completeness to which IKB has adhered for more than 80 years. We believe that FinArch is that solution."

Since its inception, FinArch provides customers worldwide with local accurate and timely compliance and global consistency. FinArch offers solid international experience and best-of-breed regulatory reporting. The FinReporter® solution eases the burden of regulatory reporting for financial institutions as it complies with the reporting requirements of central banks, monetary authorities, and other financial regulators in multiple countries, as well as with the IAS directives and Basel II requirements.

About IKB Deutsche Industriebank

IKB Deutsche Industriebank (IKB) is a specialist in the field of long-term finance, the only nationally operating bank in Germany whose range of services is directed exclusively at entrepreneurs and enterprises. Originally known as Bank für Industrieobligationen, IKB was founded in 1924 by entrepreneurs for entrepreneurs, playing a pioneering role in the development of long-term commercial lending. Today the bank is a trusted partner of established medium-sized enterprises in Germany and abroad as well as of investors in private equity and commercial real estate. By furnishing its customers with long-term financial resources, IKB enables them to achieve their strategic growth.

IKB opened its branch in Madrid in spring 2006. Along with branches in London, Paris and Milan, Madrid is the bank's fourth European location outside of Germany; its prime mission is acquisition financing. Furthermore IKB is represented in New York by its subsidiary IKB Capital Corporation.

Spain is one of the most dynamic economies in Europe and ranks fifth in acquisition financing volume. IKB intends to arrange primarily transactions with volumes in the €20-€200 million range. The Madrid office also focuses on project financing. After Britain, Spain is Europe's leader in this domain, especially in public private partnerships and the energy sector.

About FinArch

FinArch (Financial Architects), with offices in the major financials centres worldwide, is a global value leader in providing a new generation of financial management software. The concept of the platform and the integrated approach of the different modules enable innovative financial institutions to quickly implement tactical solutions meeting the overall strategic objectives in financial reporting.

FinArch provides a unique blend of domain expertise, operational services, and technology solutions that accelerate and facilitate financial institutions’ ambition to implement a cost effective and reliable financial management platform. 

www.finarch.com

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