2017 marked another milestone for BearingPoint, with record revenues of 712 million euros, a 13% increase in revenues in comparison to the previous year.
Regulatory Technology (RegTech), one of the key initiatives at BearingPoint, also continued to grow in all areas – in terms of market share in our core and emerging markets, as well as revenues and employees.
In 2017, RegTech has achieved several important milestones. The first release of Abacus360 Banking has been launched with AnaCredit for Germany as the first fully integrated reporting module. Other milestones in our product development include the EMIR II and MiFID II go-lives and the big final go-live for Solvency II Pillar 3. We have also progressed with Abacus360 Regulator, winning the trust of several European central banks, especially with regard to data collection for AnaCredit and credit registers. Our Swiss assets also saw a positive development in 2017, with high demand for our Swiss tax reporting products EasyTax and FiTAX, as well as for our reporting solution FiRE.
The industry’s recognition of our RegTech solutions is also reflected by a series of industry awards. In 2017, we won the Chartis RiskTech100 Award in the category “Regulatory Reporting” and the Central Banking Award in the category “Consultancy and Advisory Services Provider of the Year 2017” for our Abacus360 Regulator.