REDWOOD CITY, CA and KIRKLAND, WA -- (MARKET WIRE) -- 04/10/08 -- UBmatrix, Inc., theleading provider of XBRL information exchange solutions announced todaythat its consulting and systems integrator partner in Europe, Umanis, hasreached an agreement with Dexia, one of Europe's largest financialinstitutions, for the implementation of UBmatrix XBRL-based reportingsolutions.Under Basel II, European banks will now be required to report twiceannually an average of 12,000 data elements in XBRL to their nationalcentral bank, as compared to just 900 data elements under the previousBasel I agreement, following the recommendation of the Committee ofEuropean Banking Supervisors (CEBS). CEBS, which gives advice to theEuropean Commission on banking policy issues and promotes cooperationacross the European Union, has recommended the use of XBRL as the Financialand Prudential reporting standard for all European Banks.
Umanis will be implementing UBmatrix XBRL technologies for Dexia Bank, sothat Dexia can electronically report its Common Reporting (CoRep) for itsretail banks in France, Belgium, and Luxembourg to European Central Banks.Umanis will be deploying an XBRL integrated solution (FINRISK) that willallow Dexia to efficiently and accurately comply with the COREP and FINREPreporting XBRL requirements. Umanis' FINRISK solution is based on theUBmatrix Report Builder and UBmatrix xBreeze Web-based services, creating aseamless solution that allows submitting banks to ensure their reports are100% accurate, 100% compliant and error free.
"Working with UBmatrix and leveraging UBmatrix XBRL solutions, Umanis willbe able to quickly and efficiently implement the new reporting system forDexia. The performance of this application will allow for the validationof an exceptional data load, corresponding to more than two hundred plusCOREP Reports per reporting cycle period," said Steve Berdah, XBRLTechnical Director for Umanis.
About Umanis
Umanis is among the top 5 French companies specialised in BusinessIntelligence with a turnover of 60 million euros in 2007. Withapproximately 1000 engineers and consultants, Umanis gathers the largestconcentration of Business Intelligence, Customer Relationship Management,E-Business and XBRL experts in France. To assist companies in using andembracing XBRL technology, Umanis sets up multi-disciplinary team with IAS,reporting systems, XBRL standards and IT specialists to design, develop anddeploy start-to-finish XBRL projects that address the unique needs of ourcustomers. Umanis is listed on the Eurolist Compartment C of EuronextParis (Code ISIN FR0000066771).
About UBmatrix
UBmatrix, Inc. is the leading provider of XBRL-based information exchangesolutions for global organizations and enterprises allowing them to moreefficiently and effectively address the challenges of business andfinancial information management, exchange and reporting. XBRL is fastbecoming the standard for financial information exchange and reportingdemonstrated by the XBRL programs being driven by the SEC, FDIC and theEuropean Central Bank Supervisors. UBmatrix XBRL solutions increaseoperational efficiency and financial transparency, and ensure reportingaccuracy and regulatory compliance. UBmatrix is based in Silicon Valleywith development centers in Kirkland, WA, and New Delhi, India. Forfurther information, visit www.ubmatrix.com.
For further information, contact:
For UBmatrix
Dan Cahill
(917) 617-0106
Email Contact
For Umanis
David Leroux
+ 33 (0)1 40 89 68 08
Email Contact