Profile (ATH: PROF), an international technology group, has significantly upgraded its RiskAvert risk management platform, by integrating the new RiskAvert-Pillar III Reporting module, which automates regulatory disclosures and helps banking institutions meet ever-increasing regulatory requirements, offering greater efficiency, accuracy, and control.
As regulatory requirements continue to grow, financial institutions are called upon to boost their productivity and deliver high levels of consistency, transparency, and responsiveness. RiskAvert-Pillar III expands the platform’s reporting capabilities for regulatory compliance, supporting the efficient production of supervisory reports aligned with the standards of the European Banking Authority (EBA).
As noted in the related announcement, by utilizing final Pillar I and Pillar II supervisory reports in Excel format as input data, the new functionality enables the easy creation of Pillar III reports, offering a fully controlled and automated reporting process.
At the same time, the system’s flexibility allows banking institutions to customize the structure of input files according to their own operational needs and the specific formatting and presentation requirements of each organization.
RiskAvert-Pillar III is available either as part of the comprehensive RiskAvert regulatory reporting solution or as a standalone module, enabling organizations to utilize it regardless of their existing reporting system, ensuring flexibility and easy integration into existing IT ecosystems.
The new module has already been licensed both in Greece and abroad and has been successfully implemented.
By expanding the capabilities of RiskAvert, Profile enables banking institutions to manage Pillar III disclosure requirements more effectively, enhancing operational efficiency and the reliability of regulatory reporting.