BearingPoint RegTech, developer of international provider of innovative regulatory and risk technology solutions, will help Sweden-based GCC Capital with its EBA reporting needs.
The RegTech company’s Abacus360 Banking solution is a standard software for national and international prudential reporting, statistical reporting, as well as granular reporting and ad-hoc reporting.
As part of the deal, GCC will implement the Abacus306 solution to improve its infrastructure and reporting burdens as well as bolster its security. The reporting as a service (RaaS) solution hosts regulatory reporting software in compliance with EU outsourcing guidelines.
The solution provided to GCC will also include a cloud-based data management service which will collect data from various source systems and files. BearingPoint believes this will give GCC more flexibility to scale.
GCC Capital head of treasury Kawi Lam said, “Our intention was to achieve better control over the regulatory reporting processes, and to be able to use the data also for analytics and other decision making.
“We required a service provider offering a solution that can easily be operated by ourselves, with reasonable infrastructural choices. BearingPoint RegTech has a comprehensive understanding of the end-to-end process of regulatory reporting and we are looking forward to working with them.”
Last year, payments unicorn Revolut implemented the BareingPoint solution to help it keep it up with changing regulations.
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