Police Bank Ltd Signs with VERMEG for APRA Regulatory Reporting Transformation on the VERMEG CLOUD
VERMEG, a global leader in Regulatory, Risk, and Post-Trade Solutions for Banking, Wealth & Asset Management, Securities, and Insurance Industries, today announced that Police Bank Ltd, a leading Australian Member-Owned Authorized Deposit Taking Institution (ADI) has signed for VERMEG’s AGILE SaaS Regulatory Reporting solution to modernize and automate its APRA regulatory reporting.
Police Bank Ltd, since its inception in 1964, has been providing its members with innovative banking and investment services.
VERMEG’s AGILE for APRA Reporting built on a cloud-native API-first architecture, assists over 300 financial institutions globally to comply with prudential regulations, analyse and manage their data, and enhance risk management capabilities.
Joseph Kubeyka, General Manager APAC and CEO of VERMEG Australia commented:
“We are delighted to add Police Bank Ltd to our fast-growing Australian regulatory reporting user community. Automation of APRA regulatory compliance is currently at the top of the strategic initiatives of the Australian Member-Owned banking community, assisting in a reduction in compliance, operational and systemic risks, while reducing overall costs by leveraging CLOUD.”
Dr. Leanne Ward, Chief Financial Officer of Police Bank Ltd said:
“We are delighted to partner with VERMEG to extend best practices related to automation of APRA regulatory reporting. This initiative fits nicely within Police Bank’s overall system transformation objectives, providing our members with the best levels of services in the industry.”
/ About VERMEG
VERMEG is a leading provider specialized in software and digital solutions for regulatory compliance, collateral management, and insurance industries.
As a leader in the regulatory compliance market, its technology targets key challenges driving operational efficiency, cost savings, optimization and risk mitigation. Encapsulating more than 25 years of experience in the financial sector, VERMEG has a deep understanding of the current challenges facing the industry.
Through our digital solutions developed with low-code no-code technology, Veggo platform by VERMEG offers ready-to-use apps, perfectly tailored to our clients’ needs. This guarantees for clients achieve increased efficiency, improved user experience and the ability to grow their business and reduce costs.
/ About Police Bank Ltd
Police Bank is a member-owned financial institution focused on community, digital innovation, and providing competitive products and quality service for a better banking experience. All profits are returned to members in the form of better interest rates, products, and services.
Police Bank understands the unique needs of the police community but is accessible to all, and members don’t need to be part of the police community to sign up to our range of products and services for every stage of life – from savings and transaction accounts, to home loans and insurance.
Police Bank is a member of The RegTech Association, committed to the growth and development of ethical and compliant business practice, and is supervised by the Australian Prudential Regulation Authority (APRA).