FIBR opts for Abacus360 Banking as Managed Service to automate the regulatory reporting process
Frankfurt / Amsterdam, 18.11.2021 – Regnology, an international provider of innovative regulatory, risk, and supervisory technology solutions (RegTech, RiskTech, and SupTech), expands its customer base in the Netherlands. As part of the ongoing digital transformation, FIBR (a trade name of Amsterdam Trade Bank N.V.) has selected Regnology’s flagship product Abacus360 Banking as Managed Service to automate its regulatory reporting processes.
FIBR is focused on providing essential funding to support SME businesses throughout Europe and has combined the stability of a bank with the agility and technology of a fintech. Fueled by retail savers, FIBR allows communities to support the growth of SMEs domestically and across Europe. FIBR partners with FIBR Tech Ltd., which is focused on building financing solutions for small and medium businesses across the UK, including business loans, revolving credit facilities and property lending.
The complexity of regulatory reporting continues to increase. To fully concentrate on our core business, we have decided to embark on an extensive digitalization journey to streamline processes wherever possible. We are convinced that Abacus360 Banking as Managed Service will significantly facilitate regulatory reporting for us by automating the process. Together with Regnology, we strive to create a more future-proof banking environment.
Jaap Boersma, CTO at FIBR
I am pleased that with FIBR we once again convinced a well-known financial institution of the added value of our innovative software solutions. We look forward to working together on the digitalization journey and supporting FIBR to meet regulatory requirements more easily and efficiently in the future.
Alexander Turlot, Country Lead The Netherlands at Regnology
Abacus360 Banking is a standard software for national and international prudential reporting, statistical reporting as well as granular reporting and ad-hoc reporting. Renowned financial institutions representing more than 1,000 reporting entities use Regnology’s reporting solutions, among them a major part of the most important European banks under direct SSM supervision, insurers, and financial service providers.
FIBR is the connected digital bank powering SME lending across Europe, both directly and indirectly through local lenders such as Creditshelf. FIBR is the new trade name of Amsterdam Trade Bank N.V. under which the new SME strategy will be rolled out. It is the only European bank solely focused on supporting SMEs, blending the stability of a bank with the agility and technology of a fintech. Its highly automated technology platform enables its lenders to finance SMEs quickly and efficiently whilst providing business owners access to a range of working capital and secured lending products at fair rates.
FIBR’s Leadership Team has deep entrepreneurial, technology and lending experience at companies like Pave, New10, Revolut and Goldman Sachs. Headquartered in the Netherlands and with a partner business in the UK, FIBR employs over 130 people.
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