AB Bank Snoras has signed an agreement with FinArch to upgrade the Financial Studio Basel II solution to the Financial Studio Platform for IFRS Accounting and regulatory compliance reporting, management information and advanced capital management.

The choice of using the full Financial Studio will let it use the technology domestically and across the banking group, driving down operational costs and increasing efficiencies.

Gitanas Kancerevycius, head of the Risk Management Department at Bank Snoras says: "We are pleased to expand our cooperation with Financial Architects to the full extent. Applying Financial Studio for Basel II capital calculations for more than two years now, I am confident that further applications of Financial Studio will be successfully used for Bank Snoras needs. We have built strong mutual confidence to entrust Financial Studio with all our back office tasks."