Banks & Other Financial Institutions
Solutions for regulatory reporting, risk & asset liability management and tax reporting
With our solutions for regulatory reporting, risk management & asset liability management as well as regulatory and client tax reporting, we enable banks and other financial institutions to increase the efficiency of their regulatory reporting, risk and data management processes.
Banking supervision is still in a state of constant change. The last few years have brought the industry many new supervisory regulations, including AnaCredit, the revision of the calculation of RWA (risk-weighted assets), BCBS 239 and IFRS 9, as well as revisions of outdated standards. Basel IV, the revisions of CRD IV/CRR (Capital Requirements Directive/Capital Requirements Regulation) and the changes to BRRD (Bank Recovery and Resolution Directive) and SRMR (Single Resolution Mechanism Regulation) will probably bring about significant changes in supervisory law by the beginning of the next decade. Our regulatory reporting solutions enable financial institutions to fulfil those regulatory requirements.
Abacus Banking Regulatory enables financial institutions to execute national and international regulatory reporting, statistical reporting, granular reporting (AnaCredit) and ad hoc reporting. Well-known institutions representing around 800 reporting units, including a large number of the most important European SSM banks, specialist institutions and financial service providers, use ABACUS/DaVinci and the new software generation Abacus360 Banking Regulatory.
ABACUS/GMP offers a comprehensive standard software that includes both the template-based and the cube-based regulatory reporting requirements in Austria, in order to fulfil national and international legal requirements. The standardized input-approach has been jointly developed by the Austrian National Bank (OeNB) and Austrian banks.
FiRE is a tried and tested solution installed and successfully used for reporting by approximately 230 banks in Switzerland, Liechtenstein and The Bahamas, making it the market leader in regulatory reporting software in those countries.
In light of the constantly rising expectations of regulators regarding existing legislation coupled with new regulatory requirements such as ICAAP, ILAAP, AnaCredit, BCBS 239 and the fundamental review of the trading book (FRTB), it is clear that financial institutions face substantial functional and technical challenges in order to comply with regulatory demands. Our standard solution provides financial institutions with an effective tool for risk management, valuation and asset liability management. Discover our solutions
Banks, investment firms, asset managers and other financial institutions have to comply with a number of transaction-based regulatory regimes, such as the European Market Infrastructure Regulation (EMIR), the Money Market Statistical Reporting (MMSR), the Markets in Financial Instruments Directive II/Regulation (MiFID II/MiFIR) and the Securities Financing Transactions Regulation (SFTR). With our software solution, we help our clients to meet the requirements of several types of transaction reporting. Discover our solutions
Financial institutions are facing the major challenge of having to fulfil the tax authorities’ ever-changing regulatory requirements concerning reporting standards. This can also mean frequent modifications in electronic files and reports. Furthermore, many banks’ clients have assets all over the world and their requests for tax reports have increased. Our reporting tax solutions offer financial institutions the posiibility to cover both client tax reporting as well as regulatory tax reporting and facilitate a harmonized data management.
Standard software for international client tax reporting and calculation that enables financial institutions to produce country-specific tax reports for clients.
Standard software for financial institutions to fulfil the requirements of regulatory tax reporting of regulatory tax authorities around the world. FiTAX covers QI, QDD, FATCA (and its IGAs), AEOI/CRS, and DAC6/MDR reporting.
The RegTech sector is growing in importance within the risk technology landscape, something we have recognized by adding a RegTech category to our RiskTech100® awards this year. BearingPoint’s ongoing work in this area is reflected in its award, and its top 30 ranking.
Rob Stubbs, Head of Research at Chartis / November 2018, Press release
The risks of noncompliance with tax reporting obligations under such regimes as FATCA are too great for financial institutions to ignore. Yet, compliance can be operationally burdensome and costly without the right tools in place. With FiTAX, BearingPoint has managed to automate the reporting process and reliably provide a solution that is kept up-to-date with new regulatory requirements, removing many of the pain points for banks in their reporting obligations.
Brad Maclean, co-founder and Executive Chairman Regulation Asia / December 2018, Press release
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