Sweden’s financial regulator Finansinspektionen has named BearingPoint RegTech as it new partner to help collect and analyse financial and prudential data.
BearingPoint RegTech’s Abacus Regulator will be implemented into the regulator’s infrastructure to improve and streamline data collection processes, validation, monitoring and analysis.
The regulator will use the software to complete a range of data collection and analysis for EBA, EIOPA, and ESMA reports as well as different national reports.
Furthermore, BearingPoint will handle implementation, service and support for the platform including updates, upgrades, consulting services as well as options and changes which come with any variation of business needs and technical requirements.
The BearingPoint solution will give the regulator a simplified way to focus their core activities and primary tasks in the area of supervision. Its data collection and analytics capabilities empower supervisors to define standard and ad-hoc analyses according to specific needs.
Its technology collects data directly from reporting entities and can also support reporting schedule and pre-submission validations.
BearingPoint RegTech CEO Jürgen Lux said, “We are delighted about the trust that Finansinspektionen has placed in us as a partner for data collection and data management. This once again underlines our expertise in the SupTech sector, helping supervisory authorities to efficiently manage the increasing amount of data collection, complex data formats, analytical needs, and workflows.
“With Abacus Regulator, financial authorities can focus on their core activities and primary tasks, as our software offers a comprehensive solution with integrated analytical capabilities.”
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