19 November 2008

Banque Chaabi du Maroc, a key institution of the Moroccan financial services holding Groupe Banques Populaires, has selected FinArch Financial Studio as the regulatory reporting system across its European branches.

FinArch offers local presence across Europe, highly qualified support, training and implementation teams, knowledge of banking business lines and activities, and a state-of-the-art technology base

Mohamed Allouch, Banque Chaabi du Maroc Following a rigorous competitive bid, FinArch was chosen to equip Banque Chaabi’s branches in Spain, the Netherlands, the UK and Belgium with its finance and risk platform.

FinArch will initially serve a large number of users to automate and manage their daily activities around regulatory reporting requirements. The system achieves significant increases in productivity and allows a high degree of automation and compliance.

Banque Chaabi du Maroc has made no secret of its ambitions in Europe, with over 40 branches scheduled to open. It wanted to equip its European branches with a banking software suite that can handle both the technological development of the initial architecture and the evolution of regulatory requirements across selected geographies.

“FinArch’s main strengths are its local presence across Europe’s main financial hubs, highly qualified support, training and implementation teams, proven knowledge of banking business lines and activities, and a state-of-the-art technology base,” said Mohamed Allouch, general manager of Banque Chaabi’s European network.

FinArch’s framework, based on Microsoft technologies, was a key element in the decision-making process. Financial Studio equips the bank with the most technologically up-to-date system for data management and both regulatory and internal disclosures, while embracing the bank’s expansion strategy and enhancing its traditional banking business.

“We are delighted to see Banque Chaabi du Maroc joining the FinArch community,” said Philippe Meyer, vice president at FinArch. “This partnership is extremely valuable to us and underpins the perceived value of financial resource planning in the financial markets, while confirming FinArch as uniquely placed to offer integrated solutions for finance and risk across multiple geographies in today’s competitive environments.”

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