The Franco-German regional bank uses ABACUS/Transactions to meet SFTR reporting requirements

Frankfurt, March 4, 2021 – BearingPoint RegTech has won Landesbank Saar (SaarLB) as a new customer for its regulatory and risk technology solutions. The Franco-German regional bank successfully introduced the modular standard solution ABACUS/Transactions recently to meet its SFTR reporting requirements.

Since July 2020, the Securities Financing Transactions Regulation (SFTR) determines the reporting obligations for securities financing transactions. The objective of the regulation is to reduce systemic stability risks through increased transparency. However, both the complexity and the strict and tight reporting deadlines pose major challenges for institutions across Europe. Due to the complex purchase and repurchase of securities (REPO business) in particular, SaarLB needed a new solution to quickly fulfill their increased regulatory requirements.

We were looking for a trustworthy partner who could sustainably meet our complex requirements directly after the implementation of the software without further adjustments. Due to longstanding expertise in reporting and a high level of efficiency and automation, we quickly decided on ABACUS/Transactions and therefore BearingPoint RegTech.

Sandra Lutsch, Head of Department Securities Service and Interest and Currency Management, Landesbank Saar

Our goal is to always respond quickly and effectively to changes in regulatory requirements and provide corresponding solutions. Speed is usually one of the crucial factors for our customers. We are pleased to have convinced SaarLB of our offer and would like to extend our cooperation in the future.

Alexander Becht, Product Manager ABACUS/Transactions, BearingPoint RegTech

With ABACUS/Transactions, BearingPoint RegTech offers a comprehensive and proven compact solution for transaction-based reporting. In addition to SFTR, the solution also covers other regulatory frameworks such as EMIR, FMIA/FinfraG, CSA, MMSR and MiFID II/MiFIR. The available modules enable quick adjustments to changes in regulatory requirements. Due to its layer structure, financial institutions have the option to use each module separately or in combination with other modules. The product can flexibly connect to multiple source systems and offers a high level of automation. ABACUS/Transactions users benefit from BearingPoint RegTech´s longstanding expertise in regulatory reporting. The software is available as an on-premises solution as well as SaaS (software as a service).

About SaarLB:

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Sandra Hering
Head of RegTech Marketing & Communications

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