Great Southern Bank live with SaaS regulatory solution
Summary
Great Southern Bank has switched on new cloud-based capital and credit risk management and reporting software to automate aspects of meeting regulatory requirements. APRA introduced two new standards at the start of this year, and now requires Australian banks to automate the delivery of related reports. Great Southern Bank has partnered with Reg360 and joint Belgian-Thai-based risk technology provider, ElysianNxt. The banks head of enterprise data Matt Cammack said his team had "successfully delivered a new platform to meet our business and regulatory requirements where we see not only efficiency benefits but [also] improved accuracy and consistency of regulatory reporting." The next stage of the project is already underway to integrate Great Southern Bank’s credit risk calculations and APRA’s wider reporting requirements.