Frankfurt/Singapore, August 20, 2020 – BearingPoint RegTech successfully made it to the shortlist of the G20 TechSprint out of 128 applicants from 35 countries. The TechSprint is an initiative of the Saudi G20 Presidency and the Innovation Hub Centre Singapore of the Bank for International Settlements (BIS) with support from the Monetary Authority of Singapore (MAS), the Financial Stability Board (FSB), the API Exchange (APIX), and the RegTech for Regulators Accelerators (R2A).
The aim of the G20 TechSprint is to demonstrate the potential of innovative technologies (RegTech / SupTech) for solving operational problems in financial market regulation, particularly against the background of the global COVID-19 pandemic.
We are very pleased that we convinced the jury with our forward-looking approach for regulatory reporting and were selected along with the other contestants to work on disruptive solutions to keep the global financial system stable, efficient and inclusive even in times of crisis.
Daniel Münch, Business Advisor Emerging Technologies, BearingPoint RegTech
For more than 25 years it has been our mission to contribute to global financial stability by providing innovative solutions along the regulatory value chain. In this respect, we are particularly proud to bring our expertise to the G20 TechSprint initiative.
Dr. Maciej Piechocki, Member of the Management Board, BearingPoint RegTech
The G20 TechSprint Initiative was launched in April 2020. A total of 128 teams from 35 countries had applied to participate in the hackathon. The participants were invited to develop innovative solutions for three selected RegTech and SupTech areas: Dynamic information exchange for supervisory and regulatory authorities in response to crises, surveillance and control as well as regulatory reporting and ensuring compliance.
In August, all short-listed groups presented their concepts to a jury of 14 experts in the field of financial market data and technology from around the world. Based on the jury's feedback, the teams will further refine their solutions. The announcement of the winners is scheduled for October 2020. BearingPoint RegTech will present its innovative approach to regulatory reporting at various events including the international RegTech Convention in November.
Please find more information on the TechSprint initiative in the press release from the BIS/G20: https://www.bis.org/press/p200810.htm
BearingPoint is an independent management and technology consultancy with European roots and a global reach. The company operates in three business units: The first unit covers the advisory business with a clear focus on five key areas to drive growth across all regions. The second unit provides IP-driven managed services beyond SaaS and offers business critical services to its clients supporting their business success. The third unit provides the software for successful digital transformation and regulatory requirements. It is also designed to explore innovative business models with clients and partners by driving the financing and development of start-ups and leveraging ecosystems. 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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BearingPoint RegTech, a business unit of management and technology consultancy BearingPoint, is a leading international provider of innovative regulatory and risk technology solutions (RegTech and RiskTech) and services along the Regulatory Value Chain for financial services. Customers representing 6,000 firms worldwide, among them large international banks, a major part of the largest European banks, leading insurance companies as well as supervisory authorities and central banks, trust BearingPoint RegTech’s products and services. BearingPoint RegTech works closely with regulators and, as a member of standardization bodies such as XBRL, actively contributes to the standard-setting process. BearingPoint RegTech combines regulatory know-how with proven, reliable and forward-looking RegTech solution suite, expert consulting capabilities, managed services and training seminars.
For more information, please visit: www.reg.tech
Head of RegTech Marketing & Communications
Phone: +49 69 13022 3666