FIBR opts for Abacus360 Banking as Managed Service to automate the regulatory reporting process
Regnology, an international provider of innovative regulatory, risk, and supervisory technology solutions (RegTech, RiskTech, and SupTech), expands its customer base in the Netherlands. As part of the ongoing digital transformation, FIBR (a trade name of Amsterdam Trade Bank N.V.) has selected Regnology's flagship product Abacus360 Banking as Managed Service to automate its regulatory reporting processes.
FIBR is focused on providing essential funding to support SME businesses throughout Europe and has combined the stability of a bank with the agility and technology of a fintech. Fueled by retail savers, FIBR allows communities to support the growth of SMEs domestically and across Europe. FIBR partners with FIBR Tech Ltd., which is focused on building financing solutions for small and medium businesses across the UK, including business loans, revolving credit facilities and property lending.
Jaap Boersma, CTO at FIBR, commented: "The complexity of regulatory reporting continues to increase. To fully concentrate on our core business, we have decided to embark on an extensive digitalization journey to streamline processes wherever possible. We are convinced that Abacus360 Banking as Managed Service will significantly facilitate regulatory reporting for us by automating the process. Together with Regnology, we strive to create a more future-proof banking environment."
Alexander Turlot, Country Lead The Netherlands at Regnology, added: "I am pleased that with FIBR we once again convinced a well-known financial institution of the added value of our innovative software solutions. We look forward to working together on the digitalization journey and supporting FIBR to meet regulatory requirements more easily and efficiently in the future."
Abacus360 Banking is a standard software for national and international prudential reporting, statistical reporting as well as granular reporting and ad-hoc reporting. Renowned financial institutions representing more than 1,000 reporting entities use Regnology's reporting solutions, among them a major part of the most important European banks under direct SSM supervision, insurers, and financial service providers.
About FIBR
FIBR is the connected digital bank powering SME lending across Europe, both directly and indirectly through local lenders such as Creditshelf. FIBR is the new trade name of Amsterdam Trade Bank N.V. under which the new SME strategy will be rolled out. It is the only European bank solely focused on supporting SMEs, blending the stability of a bank with the agility and technology of a fintech. Its highly automated technology platform enables its lenders to finance SMEs quickly and efficiently whilst providing business owners access to a range of working capital and secured lending products at fair rates.
FIBR's Leadership Team has deep entrepreneurial, technology and lending experience at companies like Pave, New10, Revolut, and Goldman Sachs. Headquartered in the Netherlands and with a partner business in the UK, FIBR employs over 130 people.
About Regnology
Regnology is a leading international provider of innovative regulatory, risk, and supervisory technology solutions (RegTech, RiskTech, and SupTech), of AEOI and tax reporting products, as well as of services along the Regulatory Value Chain for financial services. Regnology has been a partner for banks and regulators for 25 years. Until the end of 2020, the company was part of BearingPoint group and operated under the name BearingPoint RegTech. Since the sale of the RegTech business to private equity firm Nordic Capital, the company has been independent. In June 2021, the company joined forces with Vizor Software and recently changed its name to Regnology. In total, Regnology serves more than 7,000 financial services firms with reporting solutions. At the same time, the company enables more than 50 regulators and tax authorities on five continents to collect data from 34,000 firms in 60 countries. Regnology has a total workforce of over 770 employees at 17 office locations in 12 countries.
For more information visit:
www.regnology.net
www.vizorsoftware.com
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Contacts:
Press contact Regnology
Sandra Hering
Head of RegTech Marketing Communications
Phone: +49 69 13022 3666
