Van Lanschot Decides on Regulatory-as-a-Service with Abacus by BearingPoint
Dutch wealth management firm selects ABACUS/DaVinci as a Regulatory-as-a-Service (RaaS) solution to streamline regulatory reporting processes within a short timeframe
FRANKFURT, GERMANY–(Marketwired – Apr 19, 2016) – Management and technology consultancy BearingPoint, which ranks among the leading providers of regulatory technology (RegTech), announced that Van Lanschot, one of the oldest independent wealth managers in Europe, selected their flagship product ABACUS/DaVinci as a Regulatory-as-a-Service solution (RaaS). The solution covers Dutch, Belgian and European (EBA ITS) reporting requirements.
With ABACUS/DaVinci as RaaS, Van Lanschot will replace an existing reporting solution operated on site aiming to streamline the regulatory reporting process and minimize the risk of non-availability and business continuity issues.
Jeroen Kroes, Director Finance, Reporting and Control at Van Lanschot, explained: “We opted for BearingPoint’s RaaS solution, as it allows us to comply with all relevant rules and regulations in an efficient manner. With ABACUS/DaVinci as RaaS we get a standardized regulatory reporting solution with a well-defined roadmap and regulatory maintenance by BearingPoint.”
Dr. Maciej Piechocki, Partner at BearingPoint commented: “Van Lanschot is an important customer for BearingPoint from two perspectives: It is another milestone of our international growth strategy and it shows our competitive advantage by providing consulting, software and managed services from one source.”
“We are pleased that Van Lanschot benefits from a reduced workload with use of BearingPoint’s hosted Software as a Service infrastructure. BearingPoint works closely with banks and regulators as part of its continuous development of Abacus, helping it stay at the forefront in reporting system technology and expertise. This allows us to provide the Regulation as a Service so that Van Lanschot complies with the latest regulatory reporting requirements. We are confident that the joint experience of the Van Lanschot and BearingPoint implementation teams involved will result in a successful delivery of the new solution for Van Lanschot,” said Evert Arbman, Director Solutions, BearingPoint Netherlands.
ABACUS/DaVinci, part of BearingPoint’s proven Abacus Solution Suite, is a market-leading, off-the-shelf strategic risk aggregation and regulatory reporting platform that has been developed over 20 years alongside Basel I through Basel III. ABACUS/DaVinci covers the reporting requirements of CRD IV / CRR I and EBA ITS (CoRep, FinRep, etc.) but also statistical and granular reporting in multiple jurisdictions and enables financial institutions to comply with regulatory requirements in efficient manner. Renowned financial institutions representing more than 800 reporting entities trust ABACUS/DaVinci, including a majority of the most important European banks under supervision of the Single Supervisory Mechanism (SSM).
About the Abacus Solution Suite
With the Abacus Solution Suite, BearingPoint offers banks, insurers, financial services providers, central banks, and supervisory authorities innovative Regulatory Technology (RegTech) along the regulatory value chain. Over 240 customers from approximately 1,900 domestic and foreign reporting entities trust the Abacus Solution Suite products. BearingPoint provides unrivalled experience and a unique product and service offering in the area of regulation, ranging from consulting to managed end-to-end services, from proprietary specialist reporting software to ongoing training.
For more information, please visit: www.abacus-solution-suite.com.
About Van Lanschot
Van Lanschot, a wealth manager operating under the Van Lanschot and Kempen & Co brand names, is active in Private Banking, Asset Management and Merchant Banking. Its roots date back to 1737, when it was founded in the South of the Netherlands. Its mission is preserving and creating wealth for its private and institutional clients. Van Lanschot NV is listed on Euronext Amsterdam.
BearingPoint consultants understand that the world of business changes constantly and that the resulting complexities demand intelligent and adaptive solutions. Our clients, whether in commercial or financial industries or in government, experience real results when they work with us. We combine industry, operational and technology skills with relevant proprietary and other assets in order to tailor solutions for each client’s individual challenges. This adaptive approach is at the heart of our culture and has led to long-standing relationships with many of the world’s leading companies and organizations. Our global consulting network of 9,700 people serves clients in more than 70 countries and engages with them for measurable results and long-lasting success.
For more information, please visit: www.bearingpoint.com
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