15 May 2023
Reg360, one of Australia’s leading RegTech companies, today announced the successful implementation and delivery of a cloud-based Capital and Credit Risk Management and Reporting solution for IMB. In partnership with ElysianNxt, a Belgian/Thai-based RiskTech provider, Reg360 has implemented an integrated Risk Calculation and Reporting platform as a Software as a Service (SaaS).
The solution has provided the bank valuable insights into the impact of the Basel changes into their portfolio when it was utilized as part of the Quantitative Impact Study (QIS) in 2021 and 2022. Since then, the solution has addressed IMB’s requirements under APRA’s revised capital framework for Basel (APS 110 & APS112) and automated the related APRA reporting requirements, which came into force on 1 January 2023.
“After a successful relationship held with this consortium over the past years, the joint Reg360/ElysianNxt team have been the clear partner of choice for IMB,” said Chris Goodwin, CFO at IMB. “The team at Reg360 and ElysianNxt have provided their expertise and support to meet our business and regulatory objectives. We are very satisfied with the professional project delivery and look forward to expanding the use of the system to other areas of our business.”