Regulatory compliance for foreign credit institutions in Poland

European banks have a mandate to open a branch in any European country as a branch of a foreign institution. Apart from the fact that a bank is supervised by FSA in the country of its origin, there are some regulatory obligations in a host country.

In Poland, the most important reports prepared by the branches of foreign institution are as follows:

  •  a financial statement – FINREP – an XBRL report,
  • a balance of payments and international investment position statement – PEGAZ ,
  • a monetary statistic – WEBIS.
  1. The requirements may vary due to the bank’s scope of activity and change during bank operations.

The fastest and the easiest way to fulfill regulatory requirements is to implement aSISt – a universal reporting system.

Why aSISt?

  • 38% of commercial banks and branches of foreign credit institutions in Poland use aSISt
  • aSISt enables the possibility of full automation of the reporting process
  • aSISt is easy to adjust to the development of a credit institution
  • aSISt has a modular construction – its functionality can be expanded according to business development
  • aSISt is ready-to-use

How to start?

In the beginning, the credit institution needs a ready-to-use system which does not require difficult implementation.  aSISt fulfills this criterion, so immediately after installation, the system enables preparation, validation and generation of mandatory reports:

  • FINREP,
  • PEGAZ,
  • WEBIS.

How to integrate aSISt with a core system?

Once the branch is established and operates for some time, reporting obligations become more and more time-consuming, so many banks decide to automate their reporting process.

With aSISt it’s easy. We offer aSISt data mapping module to enter data into report automatically. aSISt with mapping module plus WEBIS module enables also the WEBIS report automatic filling in.

The picture of aSISt integrated with credit institution core IT system is presented below.

aSISt with mapping module

Picture 1. Picture. Automatic reporting process based on aSISt system

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