Frankfurt am Main, 7 October 2011 – Management and technology consultancy BearingPoint today announced its cooperation with SAP AG. The cooperation aims at the development of IT solutions for regulatory reporting required by banking supervision law. BearingPoint’s ABACUS/DaVinci standard software will be integrated into SAP® Bank Analyzer and will be available under the name IRR (International Regulatory Reporting) through BearingPoint. With IRR, financial institutions can for the first time use a holistic software solution, which is based on German statutory duty of disclosure as well as on bank-wide management of the process of calculating, evaluating and analysing financial products, on an SAP platform.
‘Credit and financial-services providers benefit greatly from this innovative solution,’ says Werner Kreutzmann, Partner of BearingPoint and firm-wide leader for banking. ‘The integrated platform not only saves costs and reduces the time needed to introduce new processes, but also minimises the effort for maintenance and adaptation to legal changes.’ BearingPoint will provide both software solutions: the IRR software, specialised to the needs of SAP Bank Analyzer clients, and the independent ABACUS/DaVinci standard software.
BearingPoint and SAP support financial institutions in optimising their business and IT processes. With the new comprehensive regulatory reporting software IRR, they intend to provide significant added value in terms of advanced technology. Within the framework of the co-development agreement the two companies are working on integrating the results from reporting systems into SAP NetWeaver® Business Warehouse and comprehensively reflecting them in the SAP® BusinessObjects Enterprise Risk Reporting for Banking analytic application.
‘With the continuous harmonisation of the European regulatory reporting systems for banking supervision, it is our long-term target to expand our portfolio in Germany and across Europe,’ says Werner Kreutzmann.
BearingPoint delivers business consulting with management and technology capabilities. As an independent firm with European roots and global reach BearingPoint serves leading companies and public sector organisations world-wide to align and optimise processes, IT and operating models with business strategy. Driven by a strong entrepreneurial mindset and desire to create long-term partnerships, BearingPoint’s consultants are committed to delivering excellence and value to their clients. The firm’s approach to working with clients is highly collaborative and designed to improve business performance, from strategy through to execution. BearingPoint currently employs 3,200 people in 15 countries.
For more information, please visit: www.bearingpoint.com
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