Recently, RIKING won the bid of Habib Bank Ltd. Co. (Abbr.as HBL) for its Financial Regulatory Reporting System (F2RS) because of RIKING’s successful cases, rich experience of project implementation and great comprehensive strength. RIKING assisted HBL Beijing Branch to start business successfully and achieved its strategic deployment which attempts to provide full banking service to the countries along the Belt and the Road for their economy and trade business.
RIKING continuously plays an important role in the development of HBL as strategic partner. In 2017, RIKING assisted HBL Urumqi Branch to start business successfully, the pleasant corporation experience established a solid foundation for both to cooperate again.
HBL is founded in 1947, it was the first commercial bank in Pakistan. On December 13th ,2019, its Beijing branch got the reply from CBIRC for preparation. Along with the Road and the Belt Initiatives, China-Pakistan economic corridor and regional economic integration were being boosted. RMB plays an important role in improving bilateral investment and the process of trade. The preparation and future service of Beijing branch would give full play to Beijing’s region, talents and information. HBL took tangible actions to practice the Belt and the Road Initiative and strengthen the financial corporation within the initiative.
With the establishment of Chinese financial regulatory law and regulations as well as the financial reformation, PBOC, CBIRC, and SAFE requires all the financial institutions to report relevant business data according to constitutive rules and standard in order to supervise and manage all the financial institutions better. Nevertheless, most of regulatory reporting requirements have some features which are large volume of data, wide sources, short reporting deadline and high data quality requirement.
Based on the internal needs and standard requirements of regulatory department, RIKING releases Front Bank Data Warehouse System (FBDS) as solution. This system integrates all the products of RIKING, which includes PBOC Message Generation Subsystem of Non-interface Banks (MBT), PBOC Report, Anti-Money Laundering (AML), PBOC Payment Information Statistical Analysis System (PISAS), Financial Standardization System (FSS), Interest Rate Monitoring System (IRRMS), RMB Cross-border Receipts and Payments Information Management System（RCPMIS）etc.; In accordance with CBIRC, there are CBIRC 1104, Online Verification System (OVS); For SAFE, RIKING releases Bank Capital Finance Accounting Project (CFA), Balance of Payment(BOP), Account Management System(ACC), Internal Account Settlement System (JSH), Foreign Finance Assets & Liability System (FAL). FBDS can satisfy all the regulatory needs of financial institutions.
RIKING, as one of the most competitive providers in Chinese financial regulatory compliance industry, has been in leading position in foreign bank regulatory reporting marketing for several years. With the rapid development of financial regulatory market, RIKING would follow the developing trend of the industry on the basis of keeping the best quality of products and services. RIKING would assist its partners and clients to improve their compliant performance with advanced products and services.