EFG Financial Products selects Financial Studio Trading Sub Ledger for IFRS, Swiss GAAP and FINMA Compliance

Financial Architects NV (FinArch), a global software provider of integrated finance, risk and compliance solutions announced that EFG Financial Products AG (EFG FP) has selected its integrated finance and reporting platform to meet its needs for IFRS accounting, and Swiss GAAP and FINMA reporting.

The Swiss-based EFG FP, a subsidiary of EFG International, is a specialist in issuing and marketing structured investment products. EFG FP has selected the Financial Studio Trading Sub Ledger to automate and manage their trade related accounting and reporting process, from deal to disclosure. The solution will deliver event based accounting, automated FX processing, and will enable both internal management reporting as well as IFRS and Swiss GAAP reporting.

FinArch was chosen for its unique, flexible yet functionally rich Accounting Generator and Sub Ledger solution, as well as for its out-of-the-box capabilities to deliver event-based IFRS accounting, and for its IFRS calculators such as amortized cost, cash flows and fair value. In addition, Financial Studio supports IAS 39 compliant bifurcated disclosure of structured products and encompasses a fully integrated suite of IFRS and local compliance reporting; it delivers a fully reconciled Finance architecture and eradicating manual intervention in the accounting chain.

Read more...