Salmon Bank Selects Profinch to Automate BSP Regulatory Reporting
Cloud-native deployment covers the Financial Reporting Package and COCREE 2.0 as the BSP tightens reporting governance
SINGAPORE and MANILA, Philippines, Nov. 5, 2026 /PRNewswire/ -- Salmon Bank (Rural Bank) Inc. has selected Profinch Solutions Pte. Ltd. to automate its regulatory reporting to the Bangko Sentral ng Pilipinas (BSP), deploying Profinch's BSP Regulatory Reporting platform.
The engagement centers on two deliverables:
The first is the Financial Reporting Package (FRP) and its supporting schedules, covering the bank's current submissions under FRP V15, alongside readiness for FRP V16, which the BSP has deferred to 30th June 2027 to give banks additional time to prepare their people, processes, and systems.
The second is the Comprehensive Credit and Equity Exposures Report (COCREE 2.0), the BSP's granular borrower- and counterparty-level exposure return, which carries substantially higher data volumes and validation requirements than aggregated reports.
The platform automates business, schema, and rule-based validation. It also generates BSP-ready XML output for submission, with maker-checker workflows and exception dashboards enforcing review at every stage. It is deployed within Salmon Bank's own Cloud infrastructure in a dedicated, isolated configuration built exclusively for the Bank, leaving Salmon Bank in full control of its infrastructure and production data at all times.
Raffy Montemayor, Deputy CEO at Salmon Bank (Rural Bank) commented, "At Salmon Bank, we continue to invest in technology that strengthens operational efficiency and regulatory compliance. Working with Profinch enables us to modernize our regulatory reporting process with a structured and scalable approach that supports our compliance objectives while providing a foundation for future regulatory initiatives."
Nikhil Deshmukh, Business Head - Enterprise Apps, Asia-Pacific, Profinch commented, "Financial institutions today are looking to strengthen regulatory reporting with greater consistency, transparency, and operational efficiency while keeping pace with evolving regulatory expectations. 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."
This engagement represents another milestone in Profinch's growing presence across Southeast Asia, reinforcing its commitment to helping financial institutions modernize regulatory reporting through cloud-native, enterprise-grade banking technology solutions.
Chaitanya Kashyap, Global Business Head - Enterprise Apps at Profinch commented, "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. 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."
About Profinch Solutions
Profinch Solutions is a global BFSI technology and consulting company specializing in digital transformation, core banking, insurance, regulatory reporting, data platforms, AI, payments, risk, and compliance solutions for financial institutions worldwide. Profinch partners with banks across multiple regions to accelerate modernization initiatives through domain expertise, implementation excellence, and innovative banking technology.
Website: www.profinch.com
About Salmon Bank
Salmon Bank (Rural Bank) Inc. is a technology-driven challenger bank in the Philippines and part of Salmon Group. Originally founded in 1963, the bank was acquired and rebuilt from the ground up - becoming one of the fastest-scaling rural banks in the country. Today it combines the trust of a BSP-licensed institution with the speed and seamless experience of a modern digital product. Salmon Bank (Rural Bank) Inc. is regulated by the Bangko Sentral ng Pilipinas (www.bsp.gov.ph).
Website: www.salmon.ph
View original content to download multimedia: https://www.prnewswire.co.uk/news-releases/salmon-bank-selects-profinch-to-automate-bsp-regulatory-reporting-302929172.html
