OREANDA-NEWS. Lombard Risk Management plc (AIM:LRM.L), a leading provider of integrated collateral management and regulatory reporting solutions for the financial services industry, is pleased to announce that Bank of Cyprus UK has chosen its reporting solution, AgileREPORTER for automated regulatory reporting.

Bank of Cyprus UK provides branch, online and mobile banking services to personal and business customers.  Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, it is required to submit regulatory reports to the Bank of England, the Financial Conduct Authority and the European Banking Authority. Lombard Risk's AgileREPORTER will provide comprehensive coverage of all its capital, statistical and liquidity reporting needs for both local and European regulators.

Bank of Cyprus UK wanted to improve on their existing regulatory reporting solution which required a number of supplementary manual processes to deliver its reports. AgileREPORTER was chosen to provide automated reporting for multiple regulators through a single platform.

Andrew Michaelides, Chief Financial Officer of Bank of Cyprus UK commented: "As complex regulatory requirements continue to evolve, a comprehensive, automated reporting solution is necessary, to simplify and accelerate the reporting process and reduce operational risk. We selected Lombard Risk because their solution meets our needs and they have established expertise in this area."

Alastair Brown, CEO of Lombard Risk added: "We're delighted that Bank of Cyprus UK selected Lombard Risk at the end of a competitive process. We look forward to working together to bring agility to the bank's regulatory reporting process through a single, automated solution."

About Lombard Risk 

Lombard Risk is a leading provider of regulatory reporting and collateral management solutions to the financial services industry. Through intelligent automation and optimisation, Lombard Risk's clients are able to improve their approach to risk management, gaining the agility they need to have a competitive advantage. As well as bringing immediate and urgent solutions to clients' needs, Lombard Risk's global team of experts look beyond today's reporting and collateral management to develop technology solutions that help them adapt as industry challenges evolve. 

Counting over 30 of the world's 'Top 50' financial institutions among its clients, Lombard Risk has been a trusted partner for 27 years. Founded in 1989 and headquartered in London, it has offices in New York and Asia Pacific (Hong Kong, Shanghai, Singapore and Tokyo), and service centres in Atlanta, Cape Town and Miami.

About Bank of Cyprus UK 

Established in the UK since 1955, Bank of Cyprus UK Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. 

Over time Bank of Cyprus UK has evolved into a focused business bank serving the needs of a diverse customer base of small/owner-managed businesses from its offices in North, Central and South London, and Birmingham. 

To support its business lending activities, Bank of Cyprus UK offers a range of consistently competitive savings products.