New Fintech award for BearingPoint’s next generation platform Abacus360 Banking by Finance Monthly
Management and technology consultancy BearingPoint, a leading provider of Risk and Regulatory Technology (RiskTech/RegTech), was selected as the “Regulatory Reporting Firm of the Year” at the Finance Monthly Fintech Awards. The judges’ panel honored BearingPoint for its innovative Abacus360 Banking, an integrated platform for regulatory reporting, risk calculation and controlling regulatory KPIs.
The Fintech Awards acknowledge and reward individuals, firms, start-ups and banks who are recognized as leaders and thought leaders in their area of expertise. Award nominations are open to those that devise and design new financial technology, those that implement systems, and those who adopt new systems and technology - which in turn enhances customer experience.
Mark Palmer, Editor-in-chief at Finance Monthly, commented, “After seeing a very interesting 2016 with start-ups mushrooming across the global Fintech landscape, here at Finance Monthly we are very excited to be able to celebrate the individuals and companies whose dedication to innovation, enthusiasm and hard work help make this industry more dynamic and exciting year upon year.”
Maciej Piechocki, Partner at BearingPoint, commented, “Being recognized with the Fintech Award for our integrated platform Abacus360 once again shows that innovative FinTech / RegTech solutions are not only the realm of startups. With almost 25 years of experience in regulatory management, BearingPoint is a well-established company that supports all players along the regulatory value chain with its innovative software solutions. More than 5,000 customers among them large international banks and a major part of the largest European banks as well as supervisory authorities and central banks, trust BearingPoint’s RegTech products and services. This award clearly reflects our high coverage on the regulatory and risk.”
Abacus360 Banking is BearingPoint’s next generation product for risk management and regulatory reporting. It is based on the proven Abacus platform, which is the result of more than 20 years of regulatory experience. It offers standardized reporting modules for numerous jurisdictions, modules for risk calculation and valuation, such as simulation and risk quantification, as well as additional comprehensive functional components for regulatory analytics. Abacus360 Banking is based on a new optimized data model to ensure long-term maintenance sustainability, even under constantly changing framework conditions. A new innovative calculation engine that uses technologies like in-memory processing, grid architecture, and the cloud, enables a significant increase in performance and operational flexibility.
With its RegTech product line, BearingPoint is a leading international provider of innovative regulatory and risk technology solutions (RegTech and RiskTech) and services across the entire Regulatory Value Chain for Financial Services. Customers representing 5,000 firms worldwide, among them large international banks, a major part of the largest European banks, leading insurance companies as well as supervisory authorities and central banks, trust BearingPoint’s RegTech products and services. We work closely with regulators and as a member of standardization bodies like XBRL consortium, we actively contribute to the process of standard setting. We combine our regulatory expertise with our proven, reliable and future-oriented RegTech solution suite, expert consulting capabilities as well as training seminars and managed services. Our products, built with over 20 years of experience in regulatory and tax reporting, help firms around the world to streamline processes and maximize efficiency and transparency in data collection, reporting, management and analytics.
Finance Monthly is a global publication delivering news, comment and analysis to those at the centre of the corporate sector. Finance Monthly reports on the news and topics that matter to the CEOs, CFOs, investors, company directors, entrepreneurs, and SMEs that make up our valued readership. We’re a multi-platform publication, offering global finance news coverage both online and in digital formats, distributed to 195,880 people each month. Finance Monthly provides a balanced mix of insight and analysis driven by our editorial policy of reporting on topical news which affects the financial world. We also publish special reports and surveys designed to provide a deeper understanding of the recent trends in M&A or PE, for example. Many of our editorial pieces feature contributions from respected industry analysts and commentators to help provide quality editorial for our readers.