ORCO Bank chooses GREENLIGHT to transform regulatory reporting!

Aruba Bank is implementing GREENLIGHT to optimize its reporting process, ensuring compliance with the upcoming deadline for Basel II - pillar 1 requirements set forth by the new chart of account of the Central Bank.

Dutch Caribbean banks have until the beginning of 2016 to implement new risk management techniques and reporting principles agreed by global regulators.

The Banking Risk & Compliance experts at IBIS Management Associates Inc. have been supporting major European and Regional banks such as Aruba bank in becoming Basel II complaint. With the introduction of the GREENLIGHT reporting solution, which is based on a standard data model covering all Basel requirements for regional and International banking operations, Aruba bank is now able to tackle issues commonly faced when preparing periodical reports for regulators.

GREENLIGHT, developed by IBIS Management Associates Inc., maps various data sources to a comprehensive data model, enabling the automation of financial institutions’ complete regulatory reporting process. In addition, the solution will enable Aruba Bank to benefit from:

  • Rule driven data allocation methodology which ensures accuracy and consistency
  • Standard regulatory updates and help desk support services
  • Fast, accurate and reliable insight to key performance indicators
  • Local domain expertise with in depth subject knowledge and connections to regulators
  • 90% reduction of all regulatory report preparation time suds

    "The Banking Compliance and Risk Management Services division of IBIS Management has been working hard with Aruba Bank to prepare for the new upcoming regulatory reporting requirements. This also provided the Bank with clear insights on the benefits of GREENLIGHT. We are excited to also help Aruba Bank eliminate their manual reporting burdens and save them countless hours of preparation.” said Clark Russel, CEO of IBIS Management Associates Inc.

    About IBIS Management Associates Inc.:

    Headquartered in Curacao, Dutch Caribbean, IBIS Management Associates Inc. was founded in 2000 to offer advice and solutions to Global Financial Institutions leading to increased efficiencies and profitability. It’s customers range from Central banks to leading commercial and retail banks in the Caribbean, Latin America and Europe. Every month more than a billion dollars in transactions flow securely through IBIS Management’s systems worldwide.

    IBIS Management Associates’ Solutions include:

    • Alchemy (Payment Processing System for Banks)
    • Fuze (Trust payment gateway companies)
    • Swissroute (Hosted SWIFT connectivity, gateway and automated reconciliation)
    • GREENLIGHT (Automated regulatory reporting solution)
    • Entrust (Trusted Identities / Secure transactions) 

    Aruba bank provides a diversified range of banking products and services through its strategically located facilities. They have more than 250 dedicated employees, who are committed to providing excellence in services that are relevant to the specific circumstances and needs of their customers. www.arubabank.com

    Request a GREENLIGHT demo from our experts today!
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    For more information on GREENLIGHT and our Banking Compliance & Risk Management Services, do not hesitate to contact us using the button below.

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