Central Banking honors BearingPoint RegTech in the category “Data Management Partner for Regulatory Compliance” for its continuous innovation in supervisory technologies
Frankfurt, June 16, 2021 – BearingPoint RegTech, a leading international provider of innovative regulatory, risk, and supervisory technology solutions (RegTech, RiskTech, and SupTech), has won the FinTech & RegTech Global Awards 2021 in the category “Data Management Partner for Regulatory Compliance”. These awards, presented by Central Banking, recognize innovation in financial and regulatory technologies products as well as successful partnerships among central banks, financial regulators and supervisors and the broader practitioner market.
BearingPoint RegTech received the award for its state-of-the-art Abacus Regulator platform, quick response to the pandemic-related challenges as well as continuous innovation in regulatory and supervisory technologies. In particular, the jury highly commended the company’s innovative approach towards the future of regulatory reporting, called RegOps. This concept combines the requirements of regulatory reporting with the principles of the DevOps framework widely used in software development, which enables fast development cycles with high quality.
BearingPoint RegTech provided invaluable support to clients during the pandemic following the quick introduction of new Covid-19 reporting requirements. Even more impressive has been their ability to continue to innovate during the period, drilling deeper into the major deficiencies within banking regulation. While in the early stages of development, their RegOps regulatory reporting framework has the potential to overhaul the way regulators collect data.
Rachael King, Chair of the Central Banking Awards Committee and Associate Editor, Central Banking
We are delighted to receive a Central Banking award for our state-of-the-art Abacus Regulator platform and our RegOps approach. This recognition confirms our commitment to support regulators with their SupTech agendas and to help them tackle their data management and data collection challenges. We will continue to work harder than ever to bring innovative solutions and to be a strong partner for our clients in central banking and supervision across the globe.
Dr. Maciej Piechocki, Member of the Management Board at BearingPoint RegTech
RegOps is a regulatory reporting framework that helps regulators worldwide to streamline the reporting process as far as possible by means of standardization and industrialization. It increases data collection efficiency and improves the way regulators and regulated entities interact. RegOps combines an integrated data flow, a common processing of standardized, granular datasets based on a big data-enabled platform for computation and analysis – Abacus Regulator.
Abacus Regulator is BearingPoint RegTech’s modern and flexible platform for data collection & management, and supervisory workflows for central banks and financial supervisory authorities. It provides essential functionalities for collecting, validating, analyzing, and disseminating prudential and statistical reports for both national and supranational requirements. With Abacus Regulator, BearingPoint RegTech has earned trust of its clients and recognition from a variety of industry experts. The solution has also been recently chosen by the industry as “Best Regulator Project of the Year” at the RegTech Insight Awards Europe 2021.
The winners of the FinTech & RegTech Global Awards 2021 were announced on June 16, 2021 at the virtual Central Banking Summer Meeting.
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