Stockholm, January 18, 2018 – Management and technology consultancy BearingPoint announced that Raiffeisen Bank International (RBI) has decided on its ABACUS/Transactions software solution to fulfil several transaction-based reporting requirements. With ABACUS/Transactions, RBI will submit the daily reports according to the revised Markets in Financial Instruments Directive (MiFID II) and the accompanying Markets in Financial Instruments Regulation (MiFIR). BearingPoint, one of the leading providers of Regulatory and Risk Technology (RegTech/RiskTech), also offers the option to meet the reporting obligations under the ECB’s Money Market Statistical Reporting (MMSR), the revised European Market Infrastructure Regulation (EMIR) as well as the Securities Financing Transactions Regulation (SFTR) with ABACUS/Transactions.
“As an important player in the financial market, we need to meet the whole range of transaction-based reporting requirements. With ABACUS/Transactions, we have found a software which can be used for various reporting types. This is time-saving, cost-effective, and will make our work much easier in the future, since we have to prepare and deliver the data only once,” says Fariborz Nourani, Head of Division Head Office Operations at RBI.
“We are proud that one of Austria's leading commercial and investment banks has opted for ABACUS/Transactions. Regulatory requirements for banks are constantly changing, and when coupled with the growing complexity of financial products, our software solution helps customers successfully master these challenges. With the RBI project, we continue to drive our international growth strategy,” says Robert Bosch, Partner at BearingPoint.
ABACUS/Transactions is an established standard software solution for transaction-based reporting. The product offers synergies by using one software solution consisting of several modules to support different types of transaction-based reporting. The layer structure gives the customer the flexibility to use the modules individually or in combination with other ABACUS/Transactions modules. The product is based on the proven Abacus platform, which has been successfully used for a wide range of regulatory reports for many years.
About Raiffeisen Bank International
Raiffeisen Bank International AG (RBI) regards Austria, where it is a leading corporate and investment bank, as well as Central and Eastern Europe (CEE) as its home market. 14 markets of the region are covered by subsidiary banks. Additionally, the group comprises numerous other financial service providers, for instance in leasing, asset management or M&A.
In total, nearly 50,000 employees service 16.5 million customers through more than 2,400 business outlets, the majority thereof in CEE. RBI's shares are listed on the Vienna Stock Exchange. The Austrian Regional Raiffeisen Banks own around 58.8 per cent of the shares, the remainder is in free float. Within the Austrian Raiffeisen Banking Group, RBI is the central institute of the Regional Raiffeisen Banks and other affiliated credit institutions and renders important services in this function.
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