LONDON (Alliance News) - Lombard Risk Management PLC said Friday it has signed a technology license agreement with database software developer Oracle America Inc.
Lombard, which provides software to financial institutions to help with their regulatory and compliance requirements, said, under the agreement, Oracle America, part of New York-listed Oracle Corp, is licensed to sell Lombard's AgileREPORTER technology.
AgileREPORTER helps financial institutions to remodel how they meet complex regulatory reporting requirements by eliminating manual processes and generating added-value out of reporting data.
Lombard did not disclose financial details of the agreement.
Lombard said its technology will form part of the Oracle Regulatory Reporting Solutions being offered to banks, which manages end-to-end reporting to regulators.
"Our ability to contract with organisations such as Oracle pays testament to the quality of our offerings and will provide a powerful reference going forward," said Lombard Risk Management Chief Executive Alastair Brown.
By Hannah Boland; hannahboland@alliancenews.com; @Hannaheboland
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