LONDON & FRANKFURT, Germany--(BUSINESS WIRE)--Regnology, a leading software provider with a focus on regulatory reporting solutions, announces today the acquisition of Metadata Technology (Metadata), a UK-based provider of Statistical Data and Metadata eXchange (SDMX) solutions for central banks and national statistics authorities.
SDMX is an ISO standard designed to describe statistical data and metadata and improve efficient sharing across statistical organisations and institutions. SDMX is sponsored by seven international organisations; see sdmx.org for more information. It is the most widely adopted standard from international organisations and national statistical offices.
Founded in 2005 by consultants who developed SDMX standards, Metadata is a specialist provider of SDMX solutions, software tools, and related consultancy. The offer complements Regnology’s 2021 acquisition of Vizor SupTech, an integrated data collection software used by regulators around the world.
Metadata’s software solutions are built on open-source technology, in particular, the Fusion Metadata Registry (FMR) – see sdmx.io for more information - which currently empowers over 450 statistical agencies in 150+ countries with structural SDMX metadata registries. The latest generation of its cloud-enabled commercial software, Fusion Registry, provides international organisations with the additional capabilities needed to support the complete data lifecycle from collection, integration, storage, and processing through to the dissemination of aggregated data.
Chris Nelson, CEO of Metadata and founder of the SDMX protocol added: “Looking back into 2005, the ambition behind the introduction of SDMX was to reduce the cost and time-to-market of statistical data and metadata. Fast-forward to today, we help empower a vibrant and ever-growing global SDMX community with better-quality statistics. We are confident this acquisition will pave the way for more benefits in the future.”
Commenting on the acquisition Maciej Piechocki, Chief Revenue Officer at Regnology: “The team at Metadata has built a stand-out technology trusted by central banks and statistical agencies across the globe. We are committed to pursuing the effort to foster widespread SDMX adoption to alleviate the strain of reporting and further increase statistical processing efficiency. Through the deal, we are also pleased to be able to bring an enhanced offering to our existing community of regulators and authority bodies.”
Regnology’s regulatory technology makes it easier for central banks, regulators, and supervisory authorities to collect the right data, identify risks and gain insight to make decisions faster in continually changing markets.
This new acquisition marks another step forward in Regnology’s ambition to serve the community of regulators and regulated financial institutions with best-in-class solutions designed to address the data conundrum and regulatory complexity with streamlined workflows and increased efficiency.
About Metadata Technology
Metadata Technology provides SDMX solutions for official statistics.
The company was founded in 2005 by the consultants that developed the SDMX standards. The aim of the company is to provide consultancy and software tools in support of SDMX. In this role, it was the first company to provide SDMX training and independent consulting, as well as the first organisation to develop an SDMX Registry.
In recent years Metadata Technology has developed Fusion Registry cloud services to provide automated SDMX data collection, data validation, structure validation, mapping, transformation, and data dissemination. In 2016, Metadata Technology was awarded the contract to replace an international official statistics data collection service with a solution based on the latest Fusion Registry 9 Enterprise Edition. The service will eventually support 450 statistical agencies in 189 countries.
Metadata Technology remains active in the SDMX community and has provided technical advice to the SDMX Technical Working Group (TWG) since its inception in 2011.
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 34,000 financial institutions, 50 regulators and tax authorities relying on our solutions, we’re uniquely positioned to bring greater data quality, efficiency and cost savings to all market participants. With over 800 employees in 15 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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