Partnership delivers a fully integrated risk and regulatory
reporting solution for streamlined compliance and analytical
insights, enabling institutions to adapt swiftly to regulatory
changes
WINDSOR,
Conn., Feb. 8, 2024 /PRNewswire/ -- SS&C
Technologies Holdings, Inc. (Nasdaq: SSNC) today announced a
strategic partnership with Regnology, a leading regulatory
reporting technology company, to help clients tackle upcoming
regulatory requirements. SS&C Algorithmics will combine its
risk calculations with Regnology's regulatory reports to help
clients meet the European Banking Authority's Interest Rate in the
Banking Book (IRRBB) reporting requirements. The deadline for
implementation of the new Asset Liability Management (ALM)
reporting is September 2024.
"A combined offering from Regnology and SS&C Algorithmics is
a valuable proposition for a company like Deutsche Kreditbank AG
(DKB)," explains Sven Maecker,
Senior Specialist Reg & Tech, DKB. "We are constantly looking
for ways to improve efficiency and adequately cope with the
ever-increasing pace of regulatory developments."
The partnership creates an extensible framework to support both
regulatory and management needs for ALM IRRBB and Liquidity Risk
regulations. The offering streamlines regulatory and risk
management workflows, reduces operational complexities and enhances
efficiency with an end-to-end cloud-enabled offering. The risk and
reporting solution spans data input and powerful calculations to
streamlined reporting workflows for report creation and submission.
Leveraging SS&C Algorithmics' risk calculations and more than
10,000 validation rules from Regnology enables the delivery of
accurate and smooth regulatory reports.
"This partnership is a testament to our shared commitment to
innovation in financial risk management," said Mina Wallace, Senior V.P. and General Manager,
SS&C Algorithmics. "Our combined expertise and technology will
empower financial institutions with best-in-class solutions to
navigate the complexities of risk and compliance. Moreover,
SS&C's cloud-based infrastructure will enable the delivery of
solutions quickly to meet upcoming deadlines without extensive
internal infrastructure development."
The joint solution addresses:
- Risk and regulatory reporting and management needs of EBA
IRRBB-SA within Europe;
- End-to-end Liquidity Risk in North
America; and
- ALM and Liquidity Risk capabilities in other global
markets.
"The collaboration between Regnology and SS&C Algorithmics
is poised to harness the strengths of both entities," explains
Rob Mackay, CEO of Regnology.
"SS&C Algorithmics' expertise in risk analytics complements
Regnology's integrated and regulatory reporting experience to
create a powerful offering to address the evolving needs of
financial institutions."
About SS&C Technologies
SS&C is a global provider of services and software for the
financial services and healthcare industries. Founded in 1986,
SS&C is headquartered in Windsor,
Connecticut, and has offices around the world. Some 20,000
financial services and healthcare organizations, from the world's
largest companies to small and mid-market firms, rely on SS&C
for expertise, scale, and technology.
About Regnology
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 35,000 financial
institutions, 60 regulators, international organizations, and tax
authorities relying on our solutions to process their regulatory
reporting data, we're uniquely positioned to bring greater data
quality, efficiency, and cost savings to all market participants.
With over 900 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. The company is on a continued organic
and external growth path, building up as one of the world's most
recognized regulatory reporting powerhouses.
Additional information about
SS&C (Nasdaq:SSNC) is available at www.ssctech.com.
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SOURCE SS&C