OREANDA-NEWS. Management and technology consultancy BearingPoint, which ranks among the leading providers of Risk and Regulatory Technology (RiskTech/RegTech), announced today that it has been recognized as a top performer in the first RegTech Supplier Performance Report 2016 by Market Fintech. Market Fintech is an experienced business and marketing consulting firm focussing on the emerging FinTech and RegTech industry. The first RegTech report analyzes the market coverage and performance of Regtech suppliers in order to give technology buyers from the financial services industry a sound basis for decision making.

The report investigates both new entrants and incumbents. BearingPoint ranks among the top performers in the categories “Regulatory Reporting Tools” and “Transaction Reporting and Monitoring”with products from its innovative Abacus Solution Suite. The positions are based on the number of total users, product go-to-market dates and established years.

With RegTech helping unlock and facilitate the delivery of regulatory requirements more efficiently and effectively than existing capabilities, it’s easy to understand why RegTech is now firmly on the agenda.
However, for compliance and IT teams, finding, understanding and validating proven RegTech solutions can be difficult. Now, with our report, we have facts and figures to support the performance of Regtech providers, wherein BearingPoint’s range of solutions ranks particularly well in the global market.

Tina Snelling, CEO Market Fintech and Editor of the RegTech Performance Report

We are very proud of being acknowledged as a Top 10 perfermer in this first RegTech Performance Report with four products from our Abacus Solution Suite. This is once again a proof of BearingPoint’s international recognition as a leading provider of RegTech and RiskTech software and services across the entire Regulatory Value Chain for financial services.

Maciej Piechocki, Partner at BearingPoint

ABACUS/Transactions ranked 2nd within the category “Transaction Reporting and Monitoring.” It has been successfully established on the market as a standard product for transaction-based reporting. Over 15% of the reporting institutions in the Eurozone have decided on ABACUS/Transactions for the ECB Money Market Statistical Reporting (MMSR) and successfully completed the MMSR test phase.

ABACUS/Regulator is a solution tailored to the specific needs of regulators and central banks that supports regulatory data collection, data validation, data storage, data visualization as well as data remittance.

ABACUS/GMP serves as the technical platform for the Austrian Reporting Services (AuRep), which is regarded as the largest European reporting utility.

In light of the continually intensifying pressure placed on financial institutions with new requirements such as AnaCredit, BCBS 239 and IFRS 9, BearingPoint has developed a new generation RegTech: Abacus360 Banking is an integrated platform for 360° reporting and regulatory analytics, risk calculation and the management of regulatory key performance indicators (KPIs). Abacus360 considers significant key trends such as replacing form-based reports with data cubes, the-increasing influence of regulations on banks’ product portfolios and the need to integrate regulatory KPIs.