Europe Arab Bank Selects Reval for Hedge Accounting and Compliance

Europe Arab Bank Selects Reval for Hedge Accounting and Compliance
18.11.2013 00:00 am

Europe Arab Bank Selects Reval for Hedge Accounting and Compliance

Risk Management

Reval, a leading global Software-as-a-Service (“SaaS”) provider of comprehensive and integrated  Treasury and Risk Management (“TRM”) solutions, announced today that Europe Arab Bank plc (“EAB”) has selected Reval to help automate and streamline hedge accounting and assure compliance with current and up-coming regulations. “Confronted with increasing hedge volumes, P&L volatility and the regulatory requirements under IAS 39 and upcoming IFRS 9, EAB decided to replace its manual processes and disparate systems with a single SaaS solution for hedge accounting," says Mohammad Shoaib Memon, CFO at EAB plc. “Reval will help us to increase operational efficiency, reduce income statement volatility and assure ongoing compliance.” “Hedge accounting is becoming increasingly important and more in alignment with financial risk management strategies," says Peter Reynolds, Regional Vice President Western Europe at Reval. “Reval is happy to provide forward-looking corporates and banks, such as EAB, with solutions and expertise to implement hedge accounting best practices and keep pace with regulatory change." About Europe Arab Bank Europe Arab Bank plc (EAB), part of the Arab Bank Group, offers clients a rich heritage combined with a focused, progressive offering structured to meet the needs of today's international clientele. EAB is headquartered in London, incorporated in England and Wales and is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority in the UK. Europe Arab Bank plc is a wholly-owned subsidiary of Arab Bank plc, an international bank established 80 years ago, with a global network of more than 500 branches and offices in 30 countries and five continents. About Reval Reval is a leading, global Software-as-a-Service (SaaS) provider of comprehensive and integrated Treasury and Risk Management (TRM) solutions. Our cloud-based software and related offerings enable enterprises to better manage cash, liquidity and financial risk, and includes specialized capabilities to account for and report on complex financial instruments and hedging activities. The scope and timeliness of the data and analytics we provide allow chief financial officers, treasurers and finance managers to operate more confidently and efficiently in an increasingly complex and volatile global business environment. Using Reval, companies can optimize treasury and risk management activities across the enterprise for greater operational efficiency, security, control and compliance. Founded in 1999, Reval is headquartered in New York with regional centers across North America, EMEA and Asia Pacific.

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