BSC strengthens its leading position in regulatory reporting with its services now being used by ČSOB, UniCredit Bank and China’s Bank of CommunicationsOctober 2019
BSC (Banking Software Company), which develops new software products for the banking sector, has won four new customers for its BI product for regulatory reporting. BSC services will now be used by ČSOB, UniCredit Bank, Hypoteční banka and Bank of Communications, China’s fifth largest bank, to automatically send mandatory reports to the Czech National Bank (ČNB), as well as other regulatory bodies. BSC has further solidified its position as the clear number one on the market, with a portfolio of almost 70 clients.
BSC has proven long term that it is the clear leader in the regulatory reporting sector and currently controls almost the entire market. “In the first quarter of this year, our family of myBI users grew to 60, and I am delighted that our rapid growth is continuing. BSC has confirmed that it is an unrivalled leader in this field and will continue to define the standards for the whole industry,” promises Jan Hanuš, Head of Business Intelligence at BSC.
In the field of regulatory reporting, BSC can take care of every obligation related to mandatory reports for supervisory authorities. The toolkit for the myBI family provides all the necessary summaries and sends them to ČNB and other relevant destinations. The system is constantly being updated to work in accordance with changing legislative requirements. Clients from banks and other financial institutions no longer need to monitor the latest changes and can focus on their core business.
The first new client is ČSOB, the fifth largest bank in the Czech Republic, according to its balance sheet. Hypoteční banka, which is number one in the Czech mortgage market both in terms of the amount of new mortgages granted as well as the overall volume of mortgages provided, has also been added to BSC’s client portfolio. The third new customer is UniCredit Bank, with both its Czech and Slovak subsidiaries.
The fourth new customer for BSC with a focus on regulatory reporting is the Prague branch of China’s Bank of Communications. It is the fifth largest bank in China and, with a balance sheet of USD 1.4 billion, the 21st largest bank in the world. Founded in 1908, its headquarters are in Shanghai and it has an extensive network of over 2800 branches throughout the world.