Frankfurt, 16 August, 2023 – Regnology, a leading software provider with an exclusive focus on regulatory reporting solutions, announced today that DZ Bank, the second-largest commercial bank in Germany and holding company to the specialised entities in the DZ BANK Group, is now operating Regnology Abacus360 using Kubernetes on Open Shift for their central regulatory reporting operations across the entire banking group and its affiliated cooperative banks.
Regnology Abacus360 offers financial institutions cost-efficient scaling opportunities and leverages the full power of cloud-based computing. Combined with a service-oriented architecture, the modern container-based architecture is designed to help harmonize data models, streamline workflows, and automate calculation and reporting processes, resulting in higher operational performance, and reporting quality.
"This technical go-live marks the initial phase of our reporting transformation project. It is a major step toward achieving our strategic goal of further bundling our reporting operations within the DZ BANK Group, while at the same time becoming cloud-ready. In partnership with Regnology, we have successfully achieved the necessary first step by introducing the future-proof technological platform. On this basis, the efficiency of our reporting processes can be further optimised."
Jens Benecke, Divisional Manager Konzern-Finanz-Services, DZ Bank AND Dr. Holger Kumm Division Head IT at DZ BANK commented
"We have worked with DZ Bank for many years supporting its complex regulatory reporting chain. This project illustrates the strength of Regnology Abacus360 and its ability to meet the reporting needs of banking groups at scale. It also proves that it is an essential component for banks on their transformational journey to modernize and innovate their regulatory technology stack. We are delighted to celebrate this achievement and look forward to supporting DZ now and in the future."
Denise Seitz, Chief Technology Officer, Regnology
Regnology Abacus360 Data and Calculation Engine is an integrated Finance and Risk Regulatory data solution, that covers prudential, statistical, granular, and ad-hoc reporting on a supranational and national level and offers increased data quality and streamlined reconciliation. Financial institutions representing more than 1,000 reporting entities use Regnology’s solutions, including some of the most important European banks under the supervision of the Single Supervisory Mechanism, insurers, and financial service providers.