LONDON & FRANKFURT, Germany--(BUSINESS WIRE)--Management and technology consultancy BearingPoint was honored during an award ceremony on March 23 in London as “Central Banking Consultancy and Advisory Services Provider of the Year 2017.” The firm received this award for its expertise in supporting central banks with the collection, analysis, and dissemination of supervisory data. BearingPoint ranks among the leading providers of Risk and Regulatory Technology (RiskTech/RegTech) worldwide.
The 4th annual Central Banking Awards celebrate the contributions central bankers and stakeholders make to central banks, central banking, and national economies.
Christopher Jeffery, Chairman of the Central Banking Awards Committee and Editor-in-Chief of Central Banking, stated: “We received excellent feedback on the professionalism of BearingPoint’s consultants during the awards process. The firm’s expertise with supervisory big data is helping central banks adapt in the face of fast-moving technological change.”
Robert Wagner, Global Leader Financial Services at BearingPoint, commented: “We are very proud of winning the Central Banking Award for two successive years. Our relationship to central banks is continuously growing, and this award reflects BearingPoint’s expertise in supporting clients with the implementation of supervisory data collection, statistical and supervisory analytics, and data dissemination. Together with the technological evolution of our Abacus product, our outstanding consulting team successfully implements regulatory frameworks, and works closely with our central banking customers in countries all over the world.”
Maciej Piechocki, Partner at BearingPoint, added: “Central banks are very complex organizations. With Abacus, BearingPoint fully understands this fact as well as the criticality of data collection, data analytics and dissemination for statistical and supervisory purposes. These features are embedded in our Abacus360 Regulator platform. Our specialist teams, working with central banks all across the globe, are both business and technology experts. BearingPoint professionals are, in addition, particularly experienced in dealing with large volumes of complex financial services data as well as a wide range of regulatory requirements such as Basel III, Solvency II, AnaCredit, MiFID II, and central credit registers.”
With Abacus360 Regulator, BearingPoint has launched a new generation data collection platform for the end-to-end regulatory value chain process of prudential supervision for central banks and supervisory authorities. Abacus360 Regulator, with its very short implementation period, is in use at several national central banks, with the current focus on AnaCredit. The upgrade to Abacus360 has added a number of self-service components which allow regulators greater flexibility. The system includes advanced analytics, reporting in XBRL, SDMX, ISO 20022, XML and Excel formats, and a new workflow manager. The system allows central banks and supervisors to conduct ad-hoc data collection or stress-testing exercises in a very efficient manner.
For more information about BearingPoint’s RegTech product line, please visit: www.reg.tech
BearingPoint is an independent management and technology consultancy with European roots and a global reach. The company operates in three units: Consulting, Solutions and Ventures. Consulting covers the advisory business; Solutions provides the tools for successful digital transformation, regulatory technology and advanced analytics; Ventures drives the financing and development of start-ups. BearingPoint’s clients include many of the world’s leading companies and organizations. The firm has a global consulting network with more than 10,000 people and supports clients in over 75 countries, engaging with them to achieve measurable and sustainable success.
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