Acquisition is based on strong synergies in the last mile reporting and will extend Regnology's geographic reach
Regnology, a leading software provider with an exclusive focus on regulatory reporting solutions, announces today that it has acquired b.fine, a Belgian RegTech firm which assists financial institutions on the enhancement of their reporting supply chain.
Founded in 2017 and headquartered in Belgium, b.fine has grown to a team of nearly 50 that serves over 30 institutional clients across banks, insurance companies and investment firms. b.fine significantly reduces the regulatory burden for financial institutions by offering them an all-encompassing platform for managing their regulatory reporting processes. It is the first platform that goes beyond regulatory reporting and fully digitises and automates the journey of a reporting team, allowing financial institutions to regain control and oversight of their different regulatory reporting streams. b.fine's cloud-enabled technology complements Regnology's existing regulatory and supervisory reporting offering by enhancing its last-mile reporting capabilities and accelerating the firm's ability to serve an extended pan-European market.
Commenting on the acquisition, Rob Mackay, CEO of Regnology said: "b.fine has a fantastic track record of growth, and in delivering quality solutions to clients. Right from the start we were impressed by what the company has achieved in such a short space of time. We were attracted by the strong synergies between our offerings and are excited to pursue our combined ambition to address the evolution of regulatory reporting through the provision of an innovative product and service offering."
Also commenting, Klaas Van Imschoot, CEO of b.fine, said: "We are looking forward to becoming part of the incredibly successful team at Regnology, with a shared vision to help clients adapt to the demands of an increasingly complex regulatory system". Bert De Vriendt, CFO of b.fine also added "By joining forces with Regnology, we believe we can allow for better integration between SupTech and RegTech, and utilise its strong connections to deliver greater automatisation and standardisation practices to new clients across Europe and beyond."
About Regnology
Regnology is a leading technology firm on a mission to bring safety and stability to the financial markets. With an exclusive focus on regulatory reporting and more than 7,000 financial institutions, 30 regulators and 20 tax authorities as clients, we're uniquely positioned to bring greater data quality, efficiency and cost savings to all market participants. With over 800 employees in 12 countries and a unified data ingestion model powering our work, our clients can quickly implement and derive value from our solutions and easily keep pace with ongoing regulatory changes. Regnology was formed in 2021 when BearingPoint RegTech, a former business unit of BearingPoint Group, joined forces with Vizor Software, a global leader in regulatory and supervisory technology.
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About b.fine
b.fine, established in 2017, is a Belgian-based RegTech scale-up with an ambition to industrialize the regulatory reporting processes for financial institutions. It comprises a team of nearly 50 RegTech experts, leading financial institutions to the next era of regulatory reporting Today, more than 30 financial institutions in the Benelux rely on b.fine's unique mix of services and solutions to transform their time-consuming reporting processes into an effective reporting supply chain. b.fine is part of the prestigious RegTech100, and its platform was recognized in 2022 as "Best Regulatory Reporting Solution" by RegTech Insight.
View source version on businesswire.com: https://www.businesswire.com/news/home/20221116005069/en/
Contacts:
Press contact Regnology
Mireille Adebiyi, Chief Marketing Officer, Regnology
info@regnology.net
