We offer a range of services related to the operation of our regulatory reporting and risk solutions
The increasing complexity of regulatory reporting and the associated higher costs combined with the existing cost pressure present challenges for many reporting institutions. In particular, the operation of software solutions, whether it is an in-house development or a standard software, is a significant cost and time burden for them.
Cost-driving factors can be, for example, a lack of subject or technical know-how, costs for hardware and administration, or the time-consuming coordination with the computing center or with specialist departments. Since regulatory reporting is not the core business of banks and insurance companies, many institutions are looking for solutions to handle regulatory reporting in a simpler and more cost-effective manner.
In order to support our customers in tackling these challenges, we have developed a comprehensive, modular and individually configurable "Managed Services" offering.
With the Managed Services, we offer a variety of services related to the technical operation of our software solutions.
The service portfolio ranges from infrastructure services and application management to supporting and monitoring technical processes in the data delivery and processing and report preparation. Individual service components can be flexibly combined and customized to form a tailored service offering for the respective institution that is in line with its specific needs and requirements.
Processes in the environment
More than 50 financial institutions across Europe, including renowned banks and insurance companies, trust in our managed services capabilities including RaaS (Risk/Regulatory as a Service).
With the ABACUS/Transactions MIFIR module, we provide asset managers with a user-friendly solution to submit their MiFIR reports to the FMA on a daily basis in a largely automated manner. BearingPoint has proven itself to be a competent solution provider, whose software helps us to offer our customers a comprehensive service and to facilitate their compliance with current regulatory requirements.
Tino Kesseli, Head of IT at CSL Corporate Services / November 2018, Press release
We opted for ABACUS/Transactions as we could minimize the IT development and deployment effort with a Regulatory-as-a Service set-up, yet use a standardized reporting solution. Functional benefits were important in our decision for ABACUS/Transactions. For example, the module relevance check allows us to build a single interface for our source systems and report across multiple transaction based reporting regimes using such single interface.
Martin Kuijper, Head of IT at BNG Bank / August 2017, Press release
We opted for ABACUS/Solvency II for two major reasons: it’s a proven solution and it was available as SaaS. So we will be able to achieve a rapid deployment within a few months with customized processes.
Johan Dahlgren, CFO at AFA Insurance / July 2016, Press release