Expanded regional bank embarks on an accelerated cloud-transformation journey for business agility and meeting new Category IV banking-designation requirements

UNITED STATES, October 19, 2023 /EINPresswire.com/ -- Adenza today announced that First Citizens Bank has selected its RegCloud SaaS offering to efficiently address new requirements for its growing banking book and increased regulatory reporting as well as migrate legacy regulatory submissions to Adenza’s AxiomSL ControllerView^® platform.

Post a recent acquisition, First Citizens successfully implemented new Category IV requirements, moving into a much more scrutinized regulatory regime and areas. ControllerView provides complete transparency, fully automating processes from data ingestion to report submission and enabling clients to meet complex regulatory reporting requirements in the cloud.

RegCloud’s scalability, security, and automation amplifies ControllerView’s reporting solutions, providing a solid foundation for growth and rapidly evolving regulatory compliance requirements. In parallel, its RegCloud’s Regulatory Change Services (RCS) covers regulatory solution updates, enabling them to focus on executing core business activities even as they manage regulatory data, reporting and submission, while adhering to relevant security standards.

The acquisition of CIT Group in January 2022 made First Citizens one of the 20 largest banks in the US. And while we’re proud of this expansion, which ‘created an even better bank,’ we also recognize that by crossing that $100 billion assets line we are now operating in a new regulatory landscape. Adenza’s ControllerView provides the flexibility and scalability we need as our business grows.
- Robert L. Hawley, Executive Director External Reporting, Corporate Finance, First Citizens Bank

We are pleased to welcome First Citizens to the RegCloud family as it embarks on its cloud transformation journey. This award-winning regulatory platform delivers a fully transparent regulatory workflow, enabling clients to automatically integrate granular data from any source, perform regulatory calculations, visualize information in dynamic reports, and generate and submit regulatory disclosures. We are proud to support First Citizens, not just for today’s regulatory challenges but also in futureproofing itself for tomorrow’s.
- Jesse Bailey, Head of Sales, The Americas, Adenza

ABOUT FIRST CITIZENS BANK
First Citizens Bank helps personal, business, commercial and wealth clients build financial strength that lasts. Headquartered in Raleigh, NC., and now celebrating the 125th anniversary of its founding, First Citizens has built a unique legacy of strength, stability and long-term thinking that has spanned generations. First Citizens offers an array of general banking services including a network of more than 550 branches in 23 states and commercial banking expertise delivering best-in-class lending, leasing and other financial services coast to coast. Parent company First Citizens BancShares, Inc. (NASDAQ: FCNCA) is a top 20 U.S. financial institution with more than $200 billion in assets. First Citizens Bank, Member FDIC.

ABOUT ADENZA
Adenza provides customers with end-to-end, trading, treasury, risk management and regulatory compliance platforms which can be delivered on-premises or via the cloud. Adenza enables financial institutions to consolidate and streamline their operations with front-to-back solutions integrated with data management and reporting, benefitting from a single source of truth across the business.

With headquarters in London and New York, Adenza has more than 60,000 users across the world’s largest financial institutions spanning global and regional banks, broker dealers, insurers, asset managers, pension funds, hedge funds, central banks, stock exchanges and clearing houses, securities services providers and corporates.

Herve Delaforcade
Adenza
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