To ensure more efficient regulatory reporting, Deutsche Kreditbank (DKB) will leverage BearingPoint RegTech’s technology, including Abacus360 Banking and RegTech Factory.
DKB is a subsidiary of Bayerische Landesbank, the German bank.
The key factor driving DKB’s decision to outsource its entire regulation reporting was so that the financial institution can focus on continuous optimisation of operational processes. Furthermore, it will enable the bank to respond quickly to regulatory change.
While DKB has been using BearingPoint RegTech’s services in the advisory field for the past three years, it is only now that the firm has signed up for its full services.
In addition to the operation of the software, BearingPoint RegTech will also be responsible for DKB’s technical operation to fulfil all its regulatory reporting requirements.
To meet German and European regulatory reporting requirements, including AnaCredit and CoRep, the bank will use Abacus360’s software. Having successfully submitted the Analytical Credit Datasets or AnaCredit from Abacus360 Banking, DKB achieved its first implementation target in January this year.
With more than 70 customers and 1,000 firms which includes banks, insurers and asset managers across Europe, BearingPoint RegTech’s services go beyond the regulatory reporting software. It also provides infrastructure services and application management, support and data delivery tracking and processing as well as report preparation – all of which are tailored to the specific requirements of financial institutions.
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