BSC Leader in Regulatory Reporting. Newly Hired by HSBC, J&T and ČMZRBSeptember 2019
BSC (Banking Software Company), a developer of proprietary software products for the banking sector with nearly thirty years of experience, won three new customers for its BI regulatory reporting product in the first half of 2019. BSC services for automated sending of obligatory reports to CNB and other regulatory authorities will newly be used by Českomoravská záruční a rozvojová banka, J&T Finance Group SE and HSBC France — branch office Prague. BSC thus secured its leading position on the market and rounded the number of its clients to sixty.
BSC has proved over the long term that it has no competitors on the regulatory reporting market and it controls virtually the whole market now. “I am very happy that the family of myBI users grew in the first half of this year to sixty. BSC thus becomes a clear leader on the field and defines standards of the whole industry. Based on talks with other financial companies I am happy to say that the number of customers is going to grow by the end of 2019,” says Jan Hanuš, Head of Business Intelligence at BSC.
On the field of regulatory reporting BSC can take care of all duties in the area of obligatory reports to regulatory authorities. The myBI set of tools provides all necessary summaries and their sending to the CNB and other authorities. The system is continuously updated so that it works in compliance with the latest legislative requirements. Clients among banks and other financial institutions thus do not have to continuously monitor for changes and amendments and can focus on their core business.
Českomoravská záruční a rozvojová banka, a national development bank founded by the government for realisation of governmental programmes to support small and media business and to finance the infrastructure of cities and communities, is the first of the new clients. As the bank is a governmental institution, BSC had to win the deal in a tender held in compliance with the Act on Public Commissions.
J&T Finance Group SE is the second new client. It is one of the most agile investor groups in the Czech Republic, doing its business in private and retail banking, real estate management for physical persons and institutions, investments and project financing.
HSBC France — branch office Prague is the third new client to use myBI. HSBC Holding is the largest banking group in Europe and the seventh largest bank in Europe measured by the size of the balance sum. In the Czech Republic the bank focuses exclusively on big Czech corporate customers and international subsidiaries of foreign investors.