Vermeg expands Asia Pacific reach 12 June 2019Singapore Reporter: Rebecca Delaney
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A Dutch bank, who remains anonymous, has adopted Vermeg’s AgileREPORTER solution.
The solution was developed by the banking and insurance software solutions provider to help firms with their regulatory reporting to the Monetary Authority of Singapore (MAS).
The AgileREPORTER solution assists with multi-jurisdictional reporting by providing a single data repository for banks.
This follows Vermeg’s expansion in Singapore in an effort to meet increased demand in the domicile as a result of MAS regulatory reform.
This new agreement will ensure Vermeg holds a market majority share within the region.
Vermeg’s general manager for the Asia Pacific (APAC), Joseph Kubeyka, said: “Increasingly, financial institutions want to work with a trusted and experienced vendor to ensure they meet the new and increasingly complex regulatory requirements. Vermeg’s established technology is highly beneficial to banks and financial institutions across APAC.”
“Our expanding regional presence, leading solution and strong delivery capabilities have led banks to partner with Vermeg in their regulatory reporting journey.”
Nimoh Mohankumar, managing director, sales, APAC, added: “AgileREPORTER has out-of-the-box coverage for multiple jurisdictions globally.”
“Our ability to understand our customers’ data, deep domain expertise and robust scalable solution are the key reasons that banks trust Vermeg for their regulatory reporting.”
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