Salmon Bank has selected banking technology firm Profinch to automate its regulatory reporting to the Bangko Sentral ng Pilipinas (BSP), the two companies announced.

The platform covers two sets of BSP reports. The first is the Financial Reporting Package (FRP), including the bank’s current submissions under version 15.

It also prepares the bank for version 16, which the BSP has deferred to 30 June 2027 to give banks more time to update their people, processes and systems.

The second is the Comprehensive Credit and Equity Exposures Report (COCREE 2.0), which requires banks to report exposures for individual borrowers and counterparties.

It involves much larger volumes of data and stricter validation than aggregated reports.

Automated Checks, BSP-Ready Files

The system automatically runs business, schema and rule-based checks, then generates XML files ready for submission to the BSP.

Maker-checker workflows, in which one person prepares an entry and another approves it, along with exception dashboards, add review steps at every stage.

Profinch deployed the platform within Salmon Bank’s own cloud infrastructure, in a dedicated setup built only for the bank. This leaves Salmon Bank in full control of its infrastructure and production data.

“Working with Profinch enables us to modernise our regulatory reporting process with a structured and scalable approach,” said Raffy Montemayor, Deputy CEO at Salmon Bank (Rural Bank).

Compliance Catches Up with Growth

The deal follows a busy year for Salmon Bank.

In March, it received a PHP 400 million capital injection from parent Salmon Group, lifting its total equity to PHP 1.6 billion after more than doubling its client base in 2025.

For Profinch, the engagement adds to its presence in Southeast Asia.

Chaitanya Kashyap, Global Business Head for Enterprise Apps at Profinch, said regulatory reporting “is no longer a tactical exercise of meeting the next deadline,” but a matter of building systems that can adapt to future changes.