After the successful start of SFTR reporting, Wüstenrot & Württembergische AG also introduces Abacus for the other transaction-based reporting under EMIR, MMSR and MiFIR on a single platform
Frankfurt, December 8, 2020 – Wüstenrot & Württembergische AG (W&W) has successfully employed BearingPoint RegTech's standard solution ABACUS/Transactions to submit its daily reports according to the Securities Financing Transactions Regulation (SFTR) since the reporting start date on July 13, 2020. The W&W used the new SFTR reporting requirement as an opportunity to introduce ABACUS/Transactions as a strategic software solution for all types of transaction-based reporting. In iterative project phases, the existing reporting requirements according to MMSR, EMIR and MiFIR were successively moved to ABACUS/Transactions. It helped to homogenize all reporting processes and to fully exploit synergies.
In addition to BearingPoint RegTech as software supplier, okadis Consulting also took part in the project, supporting W&W in the technical coordination and development of a migration strategy and test coordination. W&W was responsible for the integration with the previous system.
It was an outstanding achievement of the project team to successfully manage this project in addition to the daily business. The decision to use ABACUS/Transactions as a strategic software solution to cover our reporting requirements proved to be absolutely right. With BearingPoint RegTech, we now have a strong partner at our side for the future challenges in transaction-based reporting.
Ralph Müller, Head of Accounting for Financial Instruments, Wüstenrot & Württembergische AG
I am proud that we were able to integrate a new reporting software, including the data delivery, successfully and in time for the SFTR reporting start. Not only the reporting software and the interface to Abacus was new, but also the technical conversion from DTCC to REGIS-TR as well as the corresponding technical know-how for the data delivery to REGIS-TR. Thanks to the great commitment of all project colleagues, a punctual and very successful go-live was made possible. By using the harmonized data model and the standardized processes across different reporting regimes, we were able to significantly increase the efficiency of our reporting system with ABACUS/Transactions.
Maria Niederländer, Specialist Processing and Settlement & Technical Project Manager, Wüstenrot & Württembergische AG
In this project, the W&W has once again shown that it can easily master such large projects as the integration of a new reporting software with a complete changeover of data delivery. With direct contacts at BearingPoint RegTech, we were able to clarify technical questions about the reporting software directly and efficiently. This is therefore another successful project, which follows on from many others that we have completed over the last 10 years in cooperation with BearingPoint RegTech.
Jens Scheil, Manager & Functional Coordination, okadis Consulting GmbH
We are pleased to welcome the W&W as a new ABACUS/Transactions full scope user. The W&W's decision in favor of our software solution once again demonstrates our strong position as a strategic partner for transaction-based reporting. The in-house data connection to Abacus underlines the user-friendly structure of our data model and the targeted mapping of complex reporting topics in our software. I am very pleased for the customer that the desired synergy effects and efficiency increases could be achieved with the help of our software. I look forward with optimism to a long-term and successful cooperation between the two companies.
Alexander Becht, Product Manager ABACUS/Transactions, BearingPoint RegTech
ABACUS/Transactions is an established standard software solution for transaction-based reporting. ABACUS/Transactions consists of several reporting modules that cover different regulatory frameworks such as EMIR, MMSR, MiFID II / MiFIR and SFTR. Each module can be used separately or in combination with other modules, as required. The product connects flexibly to multiple source systems and offers a high level of efficiency and automation, thus facilitating timely report submissions on a daily basis while offering enhanced data quality and consistency as well as error reduction.
About the W&W Group
Founded in 1999 from the merger of the two traditional companies Wüstenrot and Württembergische, the W&W Group today develops and acts as a broker for four building blocks of modern pension provision: financial security, real estate ownership, risk protection and wealth creation. It combines the business fields of housing, insurance and brandpool as equally strong pillars and thus offers every customer the most suitable pension solution. The W&W Group relies on omnichannel sales, which range from its own sales force, cooperation and partner sales organizations and broker activities to digital initiatives. Around 13,000 people currently work in the office and in the field for the listed group, which is headquartered in Stuttgart.
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