Millennium bcp has chosen Novabase’s Symetria® solution as a tool for reporting to Banco de Portugal’s new central credit register. The solution addresses the new requirements of the Analytical Credit Dataset (AnaCredit), a new database with detailed individual information on eurozone bank loans, and meets functional criteria handed down by the European Central Bank.
Symetria® has advanced tools which simplify compliance and reporting obligations, ensuring fulfilment of regulatory obligations in Banco de Portugal’s credit risk system (compliant with AnaCredit). The solution also has tools for analysing and managing risk for sustainable business growth.
Novabase Executive Director Afonso Mota says that “banking regulators and financial markets around the world, and especially in Europe, have been deeply committed to improving the transparency of financial systems, namely in data reporting. Naturally, we are mindful of these concerns, which is why we developed Symetria® to allow easy integration, an integrated view of information, agility, security and comprehensive auditing.”
“In view of the obligations applicable to us from Banco de Portugal under AnaCredit, we believe this solution is best suited to our needs. The solution is optimized to our business and meets criteria handed down by the European Central Bank,” says Dr. Rui Costa, in charge of Millennium bcp’s technical architecture area.
Along with Millennium bcp, Cofidis and Banco CTT have also chosen Novabase’s Symetria® solution.
