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Payments General

Finastra launches SFTR with reporting tool for banks

Thursday 5 September 2019 | 11:02 AM CET

Finastra has launched a tailored, Securities Financing Transaction Regulation (SFTR) reporting tool that will help banks prepare for the April 2020 deadline.

The tool is built on Finastra’s existing Regulatory Reporting solution and it is based in the cloud. It collects and checks transaction information, such as repurchase transactions, securities or commodities borrowing and margin lending agreements, from banks’ own or third-party systems.

By plugging their solutions into Regulatory Reporting as a Service, banks will also benefit from upgrades, set up and reduced risk. The solution enables banks to be ready to handle new and changing regulations, whilst keeping in line with previous mandates, which are also covered in the system, such as MiFID II and EMIR.

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