Banking & Capital Markets
Increase margins and lower regulatory pressure with digital business models
Revolut selects BearingPoint’s Abacus360 Banking managed services offering as solution for EBA and AnaCredit reporting. BearingPoint RegTech welcomes the UK-based financial technology company Revolut as a new customer for its Abacus360 Banking solution.
BearingPoint RegTech has been honored with the FinTech & RegTech Global Award 2019 in the category "Distributed Ledger Technology Provider of the Year". BearingPoint has convinced the award jury with a proof of concept (PoC) of a blockchain-based and thus innovative and cost-effective approach to face the growing complexity of regulatory reporting.
BearingPoint is developing a solution for the integration of the SAP Financial Services Data Management (FSDM) data model on Abacus360 Banking for use in regulatory reporting in a joint project with their customer Berlin Hyp and cooperation partners SAP and okadis Consulting GmbH.
Since the financial crisis in 2008, European banks have been operating in a challenging environment. On the contrary, the challenges of a low-interest phase, increasing digitalization of competitors, intensified market competition and increasing regulatory requirements require rethinking strategies and changes in the structure of responsibility in order to remain competitive or become competitive again.