Lombard Risk announces Banco de la Nación Argentina New York (BNA NY), a branch of Banco de la Nación Argentina (BNA), Argentina’s leading financial institution, as its latest REG-Reporter regulatory compliance client

BNA is the largest commercial bank in Argentina’s banking sector. It has 624 branches throughout the national territory and a global presence in fifteen different countries, employing more than 16,000 people.

BNA NY will be using the Lombard Risk regulatory compliance solution, integrated with Temenos’ T24 core banking system, for New York, Florida and Grand Cayman regulatory reporting, meeting the demands of the U.S. Treasury, Department of Commerce, Federal Financial Institutions Examination Council (FFIEC), Federal Reserve, Cayman Islands Monetary Authority (CIMA), Banco Central de la República Argentina (BCRA) and the Superintendencia de Bancos de Panama.

Leo Rodriguez, Vice President of BNA NY, stated: “Lombard Risk’s regulatory reporting solution, REG-Reporter, came very highly recommended to us by our core banking solution provider, Temenos, citing the team’s experience of integrating their regulatory reporting solution with Temenos’ T24 banking system.”

Rodriguez further noted: “Of most importance to us when making our final selection was the level of banking expertise and in-depth knowledge of regulatory reporting that Lombard Risk has – specifically in the United States for BNA NY – and the local support available in New York.”

John Wisbey, Chief Executive Officer of Lombard Risk, commented: “We are very pleased to form a relationship with such a prominent bank as Banco de la Nación Argentina and welcome them as our newest client in the Americas. The bank’s choice of Lombard Risk’s regulatory compliance solution, REG-Reporter, to address its banking regulatory reporting requirements is further confirmation of the solution’s extensive functional coverage, adaptability and scalability. We are currently working with several other major U.S. firms that face June 2012 regulatory deadlines relating to Dodd-Frank Act, and our existing and expanding client base, proven technology and the increased interest in automated regulatory reporting solutions in the Americas’ market will continue to contribute to our growth.”

Vincent Raniere, Managing Director, Head of Regulatory – Americas of Lombard Risk remarked: “We look forward to working with BNA implementing REG-Reporter in the bank’s New York, Florida and Grand Cayman based operations. We will also further extend our footprint into Latin America as REG-Reporter will be used to process the bank’s BCRA and Superintendencia de Bancos de Panama regulatory reports.”

REG-Reporter automates the end-to-end generation of the reports required by U.S. and Canadian regulatory agencies resulting in significant reductions in time, effort, and expense. It combines data from all of the bank’s operating systems into a central data repository, where key information is translated into standardized data. The resulting data is then compiled in required report formats recognized by regulatory agencies and electronically submitted.

Lombard Risk’s in-house team diligently keeps the software and regulatory reports up-to-date so those accountable for preparing and submitting reports will have peace of mind knowing that their reports will be in line with mandated changes, which continue to be quite extensive.