Central banks, regulators and supervisory authorities deal with large amounts of complex, heterogeneous and increasingly granular data collected from disparate sources for statistical, prudential or stability purposes. The specific challenge for regulators is managing data collection as well as its timely processing and analysis. With Abacus Regulator, we support central banks and supervisory authorities in reshaping their data management and process automation for handling data. 

Why choose Abacus Regulator?

We help regulators focus on the right things

Abacus Regulator is an integrated modular solution for risk-based financial supervision. It provides central banks and supervisory authorities with essential functionalities for collecting, analyzing and disseminating regulatory and statistical data.

In this way, we help regulators to efficiently manage the increasing amount of data, complex data formats and workflows, so that they can focus on their core activities and primary tasks, such as the safekeeping of financial system integrity or  customer protection.

Abacus Regulator offers standard regulatory and statistical business content regarding the European supervisory requirements of the European Central Bank (ECB), the European Banking Authority (EBA) and the European Insurance and Occupational Pensions Authority (EIOPA). It facilitates different types of reporting, such as

  • prudential reporting, e.g. EBA’s CoRep/FinRep, EIOPA’s Solvency II,
  • granular reporting, e.g. ECB's AnaCredit, SHS,
  • ad-hoc reporting, e.g. ECB/ EBA / EIOPA stress tests.

Our product vision is based on three pillars

  • Industrialization

    With Abacus Regulator, we help to reduce the redundancies in processes and data as well as to increase momentum in the standardization and automation of workflows. Automation helps to minimize risk, reduce errors, and increase transparency and to deliver a better basis for decision-making.

  • Flexibility

    With Abacus Regulator, we contribute to improving regulators’ flexibility in terms of: 

    • suitable allocation of internal resources to serve the fulfillment of regulators' core tasks,
    • IT infrastructure: the solution is built to fit into the existing IT architecture, and
    • rapid adaptation to changes in regulations, new data collections and the increasing amount of data.
  • Digitization & SupTech

    SupTech – supervisory technology – is defined as innovative technology used by supervisory agencies to support their supervision work. SupTech is currently found primarily in the area of data collection and analytics. With our Abacus Regulator, we support central banks and supervisory authorities in digitizing and thus improving the efficiency of their reporting, regulatory and supervisory processes.

Abacus Regulator is the result of more than 20 years of experience in regulation. It is based on our proven Abacus platform and is used by several central banks. The solution was introduced to the market in 2014 and has been constantly further developed since then to correspond to the requirements and needs that emerge from regulators.

Award-winning SupTech

The product has been honored by leading analysts and industry specific reports. The Basel Committee on Banking Supervision quoted our Abacus platform in its consultation paper titled “Implications of fintech developments for banks and bank supervisors”. Last year, Abacus Regulator was recognized as the “Best Data Management Solution for Regulatory Compliance” at Central Banking’s FinTech & RegTech Global Awards. The category recognizes solutions that help standardize heterogeneous data, allowing for its shared use across business units. In 2018, Central Banking also acknowledged BearingPoint as the “Consultancy and Advisory Provider of the Year” for its expertise in data management and regulatory reporting. This marked the third Central Banking award in a row that we have now received. Finally, with Abacus Regulator, BearingPoint was a winner in the category “Regulatory Reporting / Regulatory Risk Analytics and Calculations” at the first RegTech Directory Spotlight Awards 2017 by RegTech Associates.

 

Abacus Regulator is an integrated and modular solution. Its various modules can be individually combined according to the specific needs of supervisors.

It covers the entire process chain – from collection to screening, validation, workflow management and analysis to the final remittance of regulatory and statistical data.

Essential functionalities for an optimized reporting process

  • Data collection

    The Abacus Regulator data model and interfaces are specifically designed to handle reporting processes efficiently, including the possibility to define customer-specific master data like permissions, waivers, etc. Automated upload (XML and/or XBRL) and manual data collection are possible.

  • Data validation

    Abacus Regulator provides a validation rule engine as well as predefined validation rules. Defined validation rules reflect regulatory reporting requirements as specified by the issuing authority, for example, EBA, EIOPA, ECB. It is possible to add client-specific validation rules as part of the customization to those validation rule sets.

  • Data visualization

    Abacus Regulator visualizes reported data in reporting templates or tables depending on the definitions by EBA, EIOPA or ECB. It is also possible to visualize data in custom-created templates and tables.

  • Workflow management

    Abacus Regulator facilitates a workflow engine that defines process steps along the regulatory process chain. Process steps can include data imports, validation or aggregation functionalities.

Selected use cases

The following scenarios are use cases from our Abacus Regulator customers who successfully use the software to fulfill their regulatory and statistical reporting requirements.

EBA CoRep/FinRep XBRL data collection

Central banks use Abacus to collect CoRep/FinRep XBRL instances from financial institutions. After loading, visualizing, validating and analyzing the submitted data, it is remitted to the EBA.

ECB insurance corporations statistics based on EIOPA Solvency II XBRL data

Abacus is also used to aggregate EIOPA Solvency II data to calculate and remit statistical information defined by the ECB’s 2014 regulation on statistical requirements for insurance corporations.

ECB AnaCredit Reporting

Central Banks use Abacus to collect, analyze and submit credit data at a very granular level according to the ECB’s reporting requirements associated with the AnaCredit (Analytical Credit Dataset) project.

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Bearing Point has established itself as a leading player in the data management space. As regulators are looking increasingly to data for answers, the need for management solutions has never been more critical. BearingPoint has worked hard to form relationships with a number of regulators across the globe to provide innovative ground-breaking models.

Rachael King, Chairperson, FinTech & RegTech Global Awards / September 2018, Press release

BearingPoint has engaged in groundbreaking work to create common data models for regulators and reporting banks in Austria and the UK. It also impressed the judges with its efforts to offer technology services and advice in the areas of data management and regulation to a number of other official institutions – something that is critical in today’s fast-changing environment.

Christopher Jeffery, Chairman of the Central Banking Awards Committee and Editor-in-Chief of Central Banking / March 2018, Press release

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