02 June 2015

Central Bank of The Bahamas Launches Online Reporting & Management System with Vizor

Today, Vizor Ltd. announced that the Central Bank of The Bahamas went live recently with its Online Reporting and Information Management System (ORIMS). The new financial regulatory technology, strategically implemented by Vizor, will provide comprehensive business intelligence to the Central Bank as well as significantly improve data collection, validation, storage, and reporting.

All Central Bank licensees are now required to file regulatory returns in the new ORIMS solution, which supports the complete return lifecycle and provides comprehensive corporate profiles for all regulated entities.

“The new ORIMS solution will allow the Central Bank to better leverage information and gain greater insight, important in fulfilling its mandate as the country’s financial regulator” remarked Mr. Errol Bodie, Manager of Information Technology, Central Bank of The Bahamas, “This solution was strategic for the Bank as it will expand our data analytics and business intelligence capability, improve existing business processes and reduce operational cost relative to data capture, storage, retention and reporting“.

The launch of ORIMS is our third project to go live in the Caribbean this spring,” remarked Conor Crowley, Managing Director of Vizor Software, “in April we completed projects with the Cayman Islands Tax Information Authority and the British Virgin Islands Government. This has become a very important region for Vizor.”

With the completion of the ORIMS system, Vizor is now working with The Securities Commission of The Bahamas (SCB) and the Insurance Commission of The Bahamas (ICB), to simplify and strengthen their regulatory reporting systems, as well.

About the Central Bank of The Bahamas The Central Bank of The Bahamas was established on 1st June 1974, to carry out the traditional roles of issuer of legal tender, banker to both domestic banks and the Government, while also regulating and supervising the banking sector and administering exchange controls

You can learn more about The Central Bank of The Bahamas on their website http://www.centralbankbahamas.com