IBM, BearingPoint present regtech BPO offering

The offering is built upon BearingPoint’s Abacus platform, which is currently being used by approximately 2,700 small, medium and large international banks and insurers in over 20 European countries in order to meet their reporting obligations in compliance with Basel III, MiFID II/MiFIR, EMIR II, Solvency II, and other regulations.

Both companies cite new regulations, such as AnaCredit (analytical credit datasets) and MREL (minimum requirement for own funds and eligible liabilities), new data models, and timelines that threaten to overwhelm smaller institutions.

In addition, the offering allows financial institutions to outsource their regulatory reporting processes, and covers business processes, technical operation, software maintenance, and further development.

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