The Profile (ATH: PROF), an international technology group, significantly upgraded the RiskAvert risk management platform by integrating the new RiskAvert-Pillar III Reporting module, which automates supervisory disclosures and helps banking institutions respond to ever-increasing regulatory requirements, offering greater efficiency, accuracy, and control.
As regulatory requirements continue to increase, financial institutions are called upon to strengthen their productivity and provide 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 relevant announcement, by leveraging the final Pillar I & 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 adapt the structure of the input files according to their own operational needs and the specific formatting and presentation requirements of each organization.
RiskAvert-Pillar III is offered either as part of the integrated RiskAvert regulatory reporting solution or as a standalone module, giving organizations the ability to use it independently of the existing reporting system they use, 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.
With the expansion of RiskAvert’s capabilities, Profile enables banking institutions to manage Pillar III disclosure requirements more effectively, enhancing operational efficiency and the reliability of supervisory information.