Meeting the challenges facing the Banking Sector

The Banking sector is facing a number of challenges that includes:

• Increased competition spurred on by technological change
   
• Globalisation that has led to the need to administer euro-based products, complex multicurrency processing, and frequent business restructuring
   
• Market reforms
   
• Expansion in the service areas and the frequent launching and retirement of products that is adding to operational pressures

Many are faced with the need to deliver sophisticated reporting across multiple branches and sites. They require real-time reporting, that is both timely and provides far-reaching financial analytics. Increasingly, operations have become 'virtual'. Being dispersed across multiple sites results in additional reporting and management complexity.

As with other organisations in the financial services industry, Banks are driven to provide ever greater transparency for shareholders, regulators, customers and other stakeholders.

LAKE solutions based on the market-leading SunSystems are the best value solution to these challenges.

LAKE has over 15 years experience in providing financial and business management solutions for companies of all sizes. The solution includes:

• Integrate to the leading front-of-office Banking applications
   
• Streamline financial management to drive efficiency and effectiveness improvements and in so doing control costs
   
• Ensure faster collection and monitoring of financial information for improved control of overheads
   
• Post in and report on transactions in any currency
   
• Full consolidation of separate ledgers for group/company reporting
   
• Provide management with insightful management reporting, analysis and forecasting
   
• An integrated management information system which allows you to drill into all your finance information - right through to transaction detail
   
• Meet external reporting requirements; FSA, IAS and IFRS compliance