Latest acquisition enhances Regnology’s technology offering for regulators with SDMX solutions for central banks and statistical agencies.
London/Frankfurt, May 03, 2023 - Regnology, a leading software provider with a focus on regulatory reporting solutions, announces today the acquisition of Metadata Technology (Metadata), a UK-based provider of Statistical Data and Metadata eXchange (SDMX) solutions for central banks and national statistics authorities.
SDMX is an ISO standard designed to describe statistical data and metadata and improve efficient sharing across statistical organizations and institutions. SDMX is sponsored by seven international organizations; see sdmx.org for more information. It is the most widely adopted standard from international organisations and national statistical offices.
Founded in 2005 by consultants who developed SDMX standards, Metadata is a specialist provider of SDMX solutions, software tools, and related consultancy. The offer complements Regnology’s 2021 acquisition of Vizor SupTech, an integrated data collection software used by regulators around the world.
Metadata’s software solutions are built on open-source technology, in particular, the Fusion Metadata Registry (FMR) – see sdmx.io for more information - which currently empowers over 450 statistical agencies in 150+ countries with structural SDMX metadata registries. The latest generation of its cloud-enabled commercial software, Fusion Registry, provides international organizations with the additional capabilities needed to support the complete data lifecycle from collection, integration, storage, and processing through to the dissemination of aggregated data.
- Chris Nelson, CEO of Metadata and founder of the SDMX protocol
- Maciej Piechocki, Chief Revenue Officer at Regnology
Regnology’s regulatory technology makes it easier for central banks, regulators, and supervisory authorities to collect the right data, identify risks and gain insight to make decisions faster in continually changing markets.
This new acquisition marks another step forward in Regnology’s ambition to serve the community of regulators and regulated financial institutions with best-in-class solutions designed to address the data conundrum and regulatory complexity with streamlined workflows and increased efficiency.
About Metadata Technology
Metadata Technology provides SDMX solutions for official statistics.
The company was founded in 2005 by the consultants that developed the SDMX standards. The aim of the company is to provide consultancy and software tools in support of SDMX. In this role it was the first company to provide SDMX training and independent consulting, as well as the first organisation to develop an SDMX Registry.
Whilst the SDMX syntaxes and formats are important, it is the Information Model that is the defining feature. Metadata Technology realized the utility of the SDMX Information Model very early in the life of SDMX and started the development of a component architecture in 2008. A Java implementation of this architecture was released in 2013 as open source, with a .Net version made available later.
Implementing SDMX in a model-driven way decouples the software from the syntaxes, formats, and versions of SDMX. This approach makes it easy to support non-SDMX formats such as CSV, Excel, and RDF. In 2012, Metadata Technology’s Fusion Registry product, based on this technology, was selected for the SDMX Global Registry which acts as a central repository for official statistics metadata.
In recent years Metadata Technology has developed Fusion Registry cloud services to provide automated SDMX data collection, data validation, structure validation, mapping, transformation, and data dissemination. These cloud services are used by a number of high-profile international organisations. In 2016, Metadata Technology was awarded the contract to replace an international official statistics data collection service with a solution based on the latest Fusion Registry 9 Enterprise Edition. The service will eventually support 450 statistical agencies in 189 countries.
In addition to cloud deployment, Fusion Registry 9 can also be installed on-premises and, in this form, is in production use at a number of central banks and national statistics authorities.
Metadata Technology remains active in the SDMX community and has provided technical advice to the SDMX Technical Working Group (TWG) since its inception in 2011.