MEA Business Awards 2022 30 Best Regulatory Reporting Provider - Cyprus The regulatory environment is highly competitive and by virtue of its qualities, demands a dedication to the highest of standards. Of course, those that need to stay apace of regulations can quickly find themselves overwhelmed and directionless. That’s where A.E. Prognosys Solutions Limited has made their mark. We spoke with Managing Director Elias Afxentiou to find out more about their services and solutions. It’s no small feat to distinguish your services in the Regulatory Reporting industry – those that operate in it are used to adhering to excellence, only too aware that enduring success hinges on an ability to deliver results and develop the market in question. Equally, the RegTech industry is booming on the back of the greater digitisation movement, allowing easier access to experts and their best-in-class solutions. Saying all of that, A.E. Prognosys Solutions Limited has become one of the leading enterprises in this space and has continued to evolve and innovate over the 20 years it has been established. For Elias, while the RegTech industry is only growing, its roots largely remain the same as two decades ago. “We have been helping the Financial Industry simplify and streamline their Regulatory Compliance, Financial, Risk and Tax Reporting since we began operating. Our solutions assist clients in meeting their reporting obligations faster whilst increasing the quality and consistency of the outputs. The three critical factors to our success have been: • Proactivity & Professionalism: An unparalleled dedication devoted to ensuring that all of our solutions are constantly being updated to be aligned with the latest set of laws/ directives and regulations. • Knowledge & Quality: Our extensive knowledge about the reports we automate and the technologies we use, allows us to supplement regulatory requirements with a plethora of data and business validations resulting in significant quality improvements of the outputs. • Finally, a client centric approach: All our clients are important. There are no big or small clients. In-fact we do not even treat our clients as clients - in the typical sense. Instead, we view ourselves as being a “business unit” operating within each client and operate in this way.” “We treat all our clients alike, both large and small, and our goal throughout time is to exceed their expectations in all projects that we undertake.” This client centricity has proven to be a crucial differentiator when it comes to navigating this sphere, as Elias continues. “We treat our clients as if they part of our firm and not a third party and in-return they reciprocate and treat us as if we are an integral part of their organizations. We “argue” with them when we disagree with their decisions, and this facilitates a constructive dialogue that increases the quality of the final deliverables.” It should be mentioned that those that have chosen to settle themselves within the RegTech space are fighting a challenging battle on two fronts – tackling swift changes and constant forward momentum on both the regulatory landscape and technology landscape – simultaneously. This fact hasn’t been lost on Elias or the company. “It is an extremely challenging task to stay at the forefront of any emerging technology and trends and it requires dedication and pro-activity. We follow all new developments since their inception to be able to get a clear understanding of their potential impact on our work and decide if we should or should not adopt them. “We also maintain a continuous watch on developments that we decided not to adopt. As with experience, we have learned that what may not be suitable today may be suitable down the future. As such, we keep a constant eye not only on new but also on past developments that may be relevant and we are flexible enough to adopt anything that can increase the value of our products and the service we offer to our clients.” Following a year of impressive success, the future of A.E. Prognosys Solutions Limited is being defined by further growth and project development, as Elias concludes. “We have had great success during 2022 with a number of new projects and clients. Some of these projects are still under implementation so our main focus during the first half is to ensure the successful delivery of these projects and guarantee the client satisfaction.” Company: A.E. Prognosys Solutions Limited Contact: Elias Afxentiou, Managing Director Website: prognosys.com.cy Address: Ayias Paraskevis 8, Egkomi, 2412, Nicosia, Cyprus Tel.: + 357 22 45 64 00 Fax: + 357 22 66 30 05 Email: [email protected]
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