Lombard Risk, a provider of integrated regulatory reporting and collateral management solutions, will re-brand as VERMEG.
Its renaming comes six months after it was acquired by the European banking and insurance software solutions business (VERMEG). The company will transition to the VERMEG brand in all countries where it operates from October 1st 2018 and will introduce new product enhancements and increased research and development as part of the acquisition.
Pascal Leroy, CEO of VERMEG said, “Under one brand, VERMEG is now an integrated company providing a full suite of software products to the financial services industry. With Lombard Risk’s established expertise in collateral management and regulatory reporting solutions now fully incorporated, we have increased our business lines and expanded our geographical footprint across five continents.”
On the regulatory reporting side, VERMEG said its offer has been bolstered by new reporting expertise (PRA110 for the UK, the new MAS610 for Singapore, EFS for Australia, EBA in Europe). It also claims Lombard Risk’s flagship product, AgileREPORTER, has been enhanced by new features in the Analysis Centre for historical and trend analysis.
AgileREPORTER takes data and creates a dynamic information management framework that supports reporting requirements across multiple jurisdictions and, in addition, will provide the business with timely management information dashboards.
From one set of data – including internal capital, risk or valuation engines – its end-to-end automated solution generates all the information outputs the business and regulators need.
Badreddine Ouali, chairman of VERMEG, said: “Lombard Risk’s products are at the heart of VERMEG’s long-term strategy in the banking market and we are committed to investing in R&D to further enhance our offering in this area.
“The specialist expertise and insight that Lombard Risk brings VERMEG is an extremely important addition to our product suite and will help us deliver a more comprehensive selection of software solutions.”
New features have also been developed for the business’s collateral management offering, including the ETD module, Swift and CCP Connectivity and SIMM Calculation.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
