As RBG decided to use the same solution across the group, the latest SDS product will not only be rolled out in the entire Raiffeisen sector in
The first reporting procedures to be implemented will be the QI regime and the FATCA requirements that have to be met as of 2015. This will be followed by the expected extensions of the EUSD and requirements resulting from G8 and G20 agreements. RBG will use i.Reg as a group-wide solution with which reporting processes concerning QI, FATCA and other requirements can be bundled in centralised service hubs and across borders.
"A major deciding factor was that SDS' software i:Reg already covers most parts necessary for QI and FATCA reporting. This enables us to use the same uniform reporting solution across the entire group. Additionally, the similar requirements of the Automatic Data Exchange of the European Savings Directive can be implemented cost-efficiently", says
"The increasing reporting requirements strain resources and IT budgets of financial service providers, especially international ones. We are therefore delighted that Raiffeisen Bank International and the entire
i:Reg is a cost-efficient, reliable and future proof solution to meet the new reporting requirements and the high standards of the group. It also optimally utilises synergies of multinational banking groups.
Raiffeisen Bank International AG (RBI) regards both
RBI is the only Austrian bank with a presence in both the world's financial centres and in
In total, around 59,000 employees service about 14.4 million customers through more than 3,000 business outlets, the great majority of which are located in CEE.
RBI is a fully-consolidated subsidiary of Raiffeisen Zentralbank Österreich AG (RZB). RZB indirectly owns around 78.5 per cent of the common stock, the remainder is in free float. RBI's shares are listed on the
About SDS (Software Daten Service):
SDS, a subsidiary of T-Systems, specialises in the development of standardised banking software, in particular for international security markets and financial service providers. With the GEOS Suite, SDS offers a software for the real-time processing of securities and derivatives for international financial service providers. Other leading products of SDS are the International Regulatory Reporting Engine i:Reg for FATCA (incl. IGA1 and IGA2) and QI reporting, f:Sub for the management of own holdings of securities in accordance with national and international IFRS accounting standards and the securities compliance solution c:Conform, which automatically and fully documents compliance-related incidents.
Source: Software Daten Service
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