b.fine, which was founded in 2017, serves over 30 institutional clients across banks, insurance companies and investment firms. It reduces regulatory burdens they face through an all-encompassing platform for managing their regulatory reporting processes.
It claims to be the first platform that goes beyond regulatory reporting and fully digitised and automates the journey of reporting teams. Through this, firms can have greater control and visibility of their regulatory reporting streams.
It’s cloud-based technology will complement Regnology’s existing regulatory and supervisory reporting offering by enhancing its last-mile reporting capabilities and accelerating the firm’s ability to serve an extended pan-European market.
Speaking on the acquisition, Regnology CEO Rob Mackay said, “b.fine has a fantastic track record of growth, and in delivering quality solutions to clients. Right from the start we were impressed by what the company has achieved in such a short space of time.
“We were attracted by the strong synergies between our offerings and are excited to pursue our combined ambition to address the evolution of regulatory reporting through the provision of an innovative product and service offering.”
Regnology, which currently serves 7,000 firms around the world, offers a suite of regulatory solutions. Its services range from consulting to managed end-to-end services, from proprietary specialist reporting software to ongoing training.
b.fine CFO Bert De Vriendt added, “By joining forces with Regnology, we believe we can allow for better integration between SupTech and RegTech, and utilise its strong connections to deliver greater automatisation and standardisation practices to new clients across Europe and beyond.”
This is not Regnology’s first acquisition of the year. It previously bought Tax Information Reporting (TIR) software from PwC UK. TIR offers two tax reporting solutions, one that covers CRS and FATCA, while the other is for client tax reporting.
Regnology senior vice president product management Bodo Windmöller recently spoke to FinTech Global about the importance of ESG reporting and that it needs to be at the top of people’s minds.
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