First Bank selects FinArch IFRS solution
First Bank has selected Financial Architects' (FinArch) Financial Studio Accounting for IFRS solution to meet the Nigerian IFRS requirements.
FinArch said Financial Studio is a fully integrated finance resource planning (FRP) solution for banking and financial institutions.
Financial Studio addresses the specific needs of the finance sector with the convergence of risk management and accounting practices across all banking and financial disciplines, added FinArch.
First Bank group chief information officer Rasheed Adegoke said their choice for FinArch's solution was based on the demonstrated ability of the solution and its provider to meet these requirements. The unique selling point of FinArch's solution is undoubtedly its superior extensibility and ease of use.
FinArch chief commercial officer Nigel Lee said Nigeria is one of the fastest growing economies on earth and widely tipped to be in the list of the world's top twenty economies before 2020. To have the biggest bank in Nigeria putting its trust in FinArch and their strategic IFRS solution is both rewarding and reassuring. They are delighted to welcome First Bank to the FinArch family.
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