VERMEG becomes the Regulatory Reporting solution of choice in Singapore - Vermeg

VERMEG becomes the Regulatory Reporting solution of choice in Singapore

VERMEG becomes the Regulatory Reporting solution of choice in Singapore

2021-03-14 - Worldwide

VERMEG becomes the Regulatory Reporting solution of choice in Singapore

Singapore – 17 March, 2021 – VERMEG is proud to announce that all clients of our AgileREPORTER solution in Singapore have gone live with the New-MAS 610 framework (effective from 31st January 2021) and that all of these firms have now successfully sent their first formal submissions to the regulator. This New-MAS 610 framework has been a great success story in APAC with this new requirement currently constituting by far the majority of the reporting obligations of our clients.

 

VERMEG’s MAS 610 delivery initiative has taken place during a period when our teams have responded effectively to a series of changes in the rapidly evolving reporting guidelines. We were able to meet all client delivery deadlines within timescales and with quality solutions.

 

Pavan Pothuraju, APAC Head of Regulatory Product Management commented, “This is a truly exceptional achievement and testament to both the quality of our platform and the knowledge, experience and dedication of our product and delivery teams. The contributions of our Singapore clients and partners in this initiative were also key to our success”.

 

As part of this program, we also took the opportunity to rationalise our MAS product data model, to make it scalable to current and future needs. This will reduce client maintenance costs moving forward as well as making implementations faster and less complex.

 

All of this comes at a time when VERMEG has been accredited as one of the pre-approved ICM (Infocomm) vendors in the IMDA Go Digital programme in Singapore.  The Go Digital programme aims to help firms in the region use digital technologies and build stronger capabilities to allow them to capitalise on growth opportunities in the digital economy. Companies who engage VERMEG as part of their digital journey will be eligible for a grant from the Singaporean government.

 

As a result of these successes, VERMEG is now the leading Regulatory Reporting vendor in Singapore and we look forward to growing our client community in the future.

 

If you would like to discuss how VERMEG can help you with your Regulatory Reporting, contact us at marketingapac@vermeg.com