Regnology has acquired the AGILE regulatory reporting division from VERMEG, previously part of the Lombard Risk portfolio.
This strategic acquisition reinforces Regnology’s commitment to enhancing regulatory reporting and secures its position as a global frontrunner in providing comprehensive regulatory solutions to major banks and financial institutions worldwide.
The acquisition aims to integrate VERMEG’s robust regulatory reporting solutions into the Regnology Platform. AGILE’s suite, which serves over 150 global banks across regions including the UK, Europe, Asia Pacific, and North America, will complement Regnology’s offerings.
This integration is expected to improve the flexibility and efficiency of end-to-end reporting solutions, from data management to report generation and submission, all supported by advanced cloud technology.
Regnology is renowned for its regulatory reporting systems that cater to large banks and financial entities, facilitating comprehensive data management solutions. Conversely, VERMEG specialises in collateral management and insurance solutions, providing robust services that streamline complex financial processes.
This move will also expand Regnology’s international footprint and enhance its expertise in local markets. Following a previous acquisition of CG3-1, the new consolidated offerings will support a broad spectrum of financial reporting requirements for various financial entities, from Tier 1 banks to local community banks primarily in North America, with significant coverage in the APAC region.
The acquisition is part of Regnology’s strategy to transform legacy reporting processes into an efficient, scalable network, improving communication between regulators and financial institutions globally.
Regnology CEO Rob Mackay said, “This consolidation marks a pivotal moment in our swift growth trajectory. Regnology will now have a truly global footprint in regulatory reporting to match our global leadership in supervisory collections. This gives us the ability to connect regulators and regulated financial institutions across the globe. We will continue to invest in our technology and our people and leverage our new locations to transform legacy reporting processes, at scale, into an efficient communication network.”
VERMEG Founder and Co-CEO Badreddine Ouali stated, “By joining forces with Regnology, AGILE will benefit from a broader global platform and enhanced opportunities for growth and innovation. This strategic move allows VERMEG to concentrate on our core strengths in Collateral Management and Insurance, ensuring we continue to deliver exceptional value to our clients. We are confident that this partnership will drive long-term success for both our companies and our dedicated teams.”
Keep up with all the latest FinTech news here
Copyright © 2024 FinTech Global
