A.E. Prognosys Solutions Ltd was founded in January of 2004 with the aim of providing Business Intelligence Reporting Solutions to the local (Cyprus) market. After a year of operations (i.e. early 2005) the company’s vision shifted into the niche market of Regulatory / Compliance Reporting, starting with the preparation of the Monthly Statistical Balance Sheet Return of the Central Bank of Cyprus. By mid 2005 the prototype of the Financial Reporter Compliance Suite (FRCS) was developed, and since then Prognosys Solutions has been dedicated almost exclusively in improving the functionality of the FRCS.
Since 2005, Prognosys Solutions has been dedicated into automating Regulatory Reporting Requirements by the Central Bank of Cyprus, and as time permitted enhanced the FRCS application with various tools and features. Prognosys Solutions has created additional returns, functions and controls to improve the user experience and reduce the manual work of its clients.
In addition to the Financial Reporter Compliance Suite (FRCS), Prognosys Solutions has undertaken the development of a number of Custom Developed Software Solutions for Banks, related to both supporting and enhancing the Regulatory Reporting Compliance Process as well as meeting other internal Information needs.