IBM, BearingPoint present regtech BPO offering

Wednesday 28 November 2018 13:41 CET | News

BearingPoint and IBM Services have joined forces to present their business process outsourcing (BPO) offering, targeting the SME market.

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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Keywords: IBM, BearingPoint, regtech offering, BPO, SME, regulations, banks, reporting
Countries: World

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