Bank of Cyprus UK selects Lombard Risk

Lombard Risk added another customer to its AgileREPORTER automated regulatory reporting product on Wednesday, announcing it had signed up Bank of Cyprus UK.

The AIM-traded provider of integrated collateral management and regulatory reporting solutions said the bank was regulated by the Financial Conduct Authority and the Prudential Regulation Authority, and was required to submit regulatory reports to the Bank of England, the FCA and the European Banking Authority.

"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,” said Bank of Cyprus UK chief financial officer Andrew Michaelides.

Lombard Risk CEO Alastair Brown said he was delighted with the bank’s selection.

“We look forward to working together to bring agility to the bank's regulatory reporting process through a single, automated solution."