Stockholm, March 8, 2018 – Management and technology consultancy BearingPoint, which ranks among the leading providers of Regulatory and Risk Technology (RegTech/RiskTech), has been announced as the winner in the category “Consultancy and Advisory Provider of the Year (Data and Regulatory Management)” at the Central Banking Awards 2018. The panel of judges commended BearingPoint for delivering high-quality consultancy and advisory services to central banks and supervisory authorities based on its profound understanding of the market. The company was particularly recognized for its innovative approaches to regulatory reporting, such as shared utilities, as well as its state-of-the-art technological offering Abacus360 Regulator – a software solution for the collection, analysis and dissemination of supervisory and statistical data.
BearingPoint has been honored with a Central Banking award for the third year in a row. Launched in 2014, the awards acknowledge companies and individuals that stand out within the central banking community.
Christopher Jeffery, Chairman of the Central Banking Awards Committee and Editor in Chief of Central Banking, said: “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.”
Robert Wagner, Global Leader Financial Services at BearingPoint, commented: “The award indicates the central banking community’s trust and recognition of us as an expert in data management and reporting, which makes us proud. It also clearly reflects our commitment to always remain at the forefront of developments in this area through continuous dialogue with regulators, regulated institutions and other stakeholders. We combine our long-standing consulting expertise with our innovative RegTech and supervisory technology to help regulators overcome the data challenges they are currently facing.”
Jürgen Lux, Global Leader Solutions at BearingPoint, said: “We are honored to receive the award, our third consecutive award from Central Banking. We believe this is a great appreciation of our strategy to serve all stakeholders across the regulatory value chain, and it underlines our innovative strength that is reflected by our Abacus360 Regulator solution. At the same time, it is a honor for our data management advisory services. The repeated recognition also demonstrates the continuous international growth of BearingPoint’s Solutions business. Our RegTech unit, with its Abacus solutions, has contributed greatly to that success in 2017.”
Abacus360 Regulator is an innovative, integrated solution for central banks and supervisory authorities that gives 360° risk-based supervision. It goes far beyond mere data collection by integrating comprehensive functionalities for regulatory analytics, risk calculations and management of supervisory key risk indicators (KRIs). Furthermore, it helps central banks to comply with the new reporting requirements under the AnaCredit regulation, the ECB regulation on the collection of granular credit and risk data applicable from September 2018. Abacus360 Regulator not only enables collection and analysis of AnaCredit relevant data but also can be extended to meet the requirements of national credit registers.
Abacus360 Regulator offers essential functionalities on one modular platform. The various components can be individually combined according to the specific needs of supervisors. Abacus360 Regulator is characterized by high performance and scalability as well as significantly increased transparency and increased integration in supervisory processes. Abacus360 Regulator, with its very short implementation period, is in use at several national central banks.
BearingPoint consultants understand that the world of business changes constantly and that the resulting complexities demand intelligent and adaptive solutions. Our clients, whether in commercial or financial industries or in government, experience real results when they work with us. We combine industry, operational and technology skills with relevant proprietary and other assets in order to tailor solutions for each client’s individual challenges. This adaptive approach is at the heart of our culture and has led to long-standing relationships with many of the world’s leading companies and organizations. Our global consulting network of 9,700 people serves clients in more than 70 countries and engages with them for measurable results and long-lasting success. For more information, please visit: www.bearingpoint.com