Manila, Philippines – Salmon Bank (Rural Bank) Inc. has selected Profinch Solutions to automate its regulatory reporting to the Bangko Sentral ng Pilipinas (BSP).
The deployment will cover the bank’s Financial Reporting Package (FRP), including current submissions under FRP V15 and preparation for FRP V16, which the BSP has deferred until 30 June 2027. It will also cover the Comprehensive Credit and Equity Exposures Report (COCREE 2.0), which requires borrower- and counterparty-level reporting.
Profinch’s platform automates business, schema and rule-based validation, and generates XML files for submission to the BSP. Maker-checker workflows and exception dashboards are intended to support review throughout the reporting process.
The platform will run on Salmon Bank’s cloud infrastructure in a dedicated configuration, with the bank retaining control of its infrastructure and production data.
“At Salmon Bank, we continue to invest in technology that strengthens operational efficiency and regulatory compliance. Working with Profinch enables us to modernise our regulatory reporting process with a structured and scalable approach that supports our compliance objectives while providing a foundation for future regulatory initiatives,” said Raffy Montemayor, Deputy Chief Executive of Salmon Bank.
“Financial institutions today are looking to strengthen regulatory reporting with greater consistency, transparency, and operational efficiency while keeping pace with evolving regulatory expectations,” said Nikhil Deshmukh, Business Head for Enterprise Applications in Asia-Pacific at Profinch.
“We are pleased to partner with Salmon Bank and to support the bank with a secure, cloud-native solution that simplifies validation, strengthens governance, and enables accurate BSP-compliant XML generation,” Deshmukh continued.
“The conversation around regulatory reporting has fundamentally shifted. It is no longer a tactical exercise of meeting the next deadline, but a strategic imperative to build systems capable of adapting to tomorrow’s template changes and regulatory asks,” said Chaitanya Kashyap, Global Business Head for Enterprise Applications at Profinch.
“Across Southeast Asia and our global markets, we see a growing demand for this level of architectural resilience. We are proud to provide Salmon Bank with an enterprise-grade foundation that helps future-proof their compliance operations,” Kashyap continued.
