Solution introduction
FiRE started in 1994 with the introduction of Basel I reporting at banks. The first customers were international banks using standard software solutions
With the increasing complexity and frequency of reports and the more stringent attitude of regulators, the need for automation increased.
Right from the start, we worked with banking packages to develop a standard interface. This allowed banks changing their banking system to implement FiRE without too much effort.
Every year, up to 20 banks joined the community. With the introduction of market risk and Basel II in particular, many more banks adopted FiRE. Reporting in Liechtenstein and the Bahamas was introduced. Also new modules for Basel III, large exposure risk, interest rate risk, country risk and liquidity risk were introduced.
Today, around 230 banks in Switzerland, Liechtenstein and The Bahamas use FiRE, making it the market leader in regulatory reporting.
