Salmon Bank Partners with Profinch to Automate BSP Regulatory Reporting in the Philippines

Salmon Bank (Rural Bank) Inc. has partnered with Profinch Solutions to automate its regulatory reporting to the Bangko Sentral ng Pilipinas (BSP). For fintech professionals, this move highlights the increasing pressure on smaller financial institutions to modernize data governance as regulators shift toward more granular, high-volume reporting requirements like COCREE 2.0.

What was announced

Salmon Bank is deploying Profinch’s BSP Regulatory Reporting platform to handle two critical reporting streams. The first is the Financial Reporting Package (FRP), including current V15 submissions and preparation for the upcoming FRP V16. While the BSP has deferred the V16 deadline to 30th June 2027 to allow banks more time for system and process adjustments, Salmon Bank is moving early to ensure readiness. The second deliverable is the Comprehensive Credit and Equity Exposures Report (COCREE 2.0).

This specific report represents a significant jump in complexity, requiring granular, borrower- and counterparty-level exposure data rather than aggregated figures. This shift carries substantially higher data volumes and more stringent validation requirements than traditional returns. The Profinch platform automates business, schema, and rule-based validation and generates the required BSP-ready XML outputs for submission. To maintain security and control, the system is deployed within Salmon Bank’s own cloud infrastructure in a dedicated, isolated configuration built exclusively for the bank. This setup includes maker-checker workflows and exception dashboards to enforce review at every stage, ensuring Salmon Bank retains full control of its production data and infrastructure at all times.

"At Salmon Bank, we continue to invest in technology that strengthens operational efficiency and regulatory compliance. Working with Profinch enables us to modernize our regulatory reporting process with a structured and scalable approach that supports our compliance objectives while providing a foundation for future regulatory initiatives."

Raffy Montemayor, Deputy CEO at Salmon Bank (Rural Bank)

The companies involved

Salmon Bank (Rural Bank) Inc. operates within the Philippine financial ecosystem, focusing on providing banking services under the rural bank classification. As a smaller-tier institution compared to the country’s universal banks, its move toward enterprise-grade automation reflects a broader trend of digital transformation within the rural banking sector. Profinch Solutions Pte. Ltd. is a technology provider specializing in banking solutions, with a particular focus on regulatory reporting, enterprise applications, and core banking transformation. Based in Singapore, the company has been steadily expanding its footprint across Southeast Asia, positioning itself as a partner for institutions looking to modernize legacy reporting frameworks.

Profinch’s platform is designed to be cloud-native, allowing for flexible deployment options that cater to the specific security and data sovereignty needs of regional banks. The engagement with Salmon Bank serves as a benchmark for how specialized tech firms are targeting the mid-market and rural banking segments in the Philippines to address an increasingly complex compliance landscape. By offering isolated cloud configurations, Profinch addresses the specific governance needs of banks navigating the transition from manual to automated regulatory workflows.

What this means

This deal underscores a fundamental shift in how Southeast Asian regulators are approaching oversight. By moving from aggregated reports to granular datasets like COCREE 2.0, the BSP is forcing banks to treat regulatory reporting as a data engineering challenge rather than a back-office accounting task. This puts immense pressure on smaller banks that lack the massive IT budgets of global incumbents. The decision by Salmon Bank to automate early—despite the FRP V16 deferral—suggests that "regulatory resilience" is becoming a competitive differentiator. For the wider fintech sector, it signals a growing market for modular, cloud-native compliance tools that can be dropped into existing infrastructures without requiring a total core banking overhaul.