Regulatory reporting product of the year: Regnology

Regnology, a leading provider of regulatory reporting solutions, secured the Regulatory reporting product of the year title at the Markets Technology Awards 2024. 

The win underscores Regnology’s exceptional commitment to addressing the evolving landscape of regulatory reporting with innovative solutions and strategic advancements.

Judges said:

• “I like the vision and the aggression.” 
• “Solid regulatory reporting product.”
• “Admirable focused approach.”

Regnology’s success stems from its keen recognition of the transformative shifts within the regulatory reporting environment. The past couple of decades have witnessed a significant surge in the volume and complexity of financial regulations, placing heightened pressure on financial institutions to monitor and report diverse exposures, liquidity, transactions, ownerships, shareholdings and tax-related data, and adhere to an array of regulatory requirements. 

Regnology delivers a platform that streamlines regulatory reporting workflows for both regulators and the regulated. Its perspective on data and workflows enables the design of solutions that anticipate future requirements, offering greater data quality, efficiency and cost savings to all stakeholders involved in the reporting process. 

What sets Regnology apart from its peers is its exclusive focus on regulatory reporting. Unlike other vendors with additional lines of business, Regnology concentrates on regulatory reporting and serves as a trusted partner to over 35,000 financial institutions, more than 60 regulators and tax authorities, and Europe’s largest regulatory reporting utility. The company connects a community of regulators and the regulated, which fosters collaboration through workshops and events to stay abreast of regulatory changes and trends.

Regnology’s unified platform handles reporting requirements comprehensively, covering financial regulations, transactions, tax, internal risk and Solvency II. The platform supports future regulation by incorporating advanced features such as template- and cube-based reporting, and granular data. Its modular architecture allows users to tailor the solution to their specific needs, and the built-in regulatory calendar and workflows ensure control and oversight throughout the reporting cycle.

Regnology’s proactive growth journey over the past 12 months includes a record number of acquisitions and strategic mergers, and the launch of innovative solutions. The acquisition of the Tax Information Reporting software business from PwC enhances Regnology’s client tax reporting offerings. The acquisitions of b.fine, K-Helix and Invoke strengthen the company’s capabilities in automating reporting services, enhancing reporting efficiency and expanding its geographic reach.

The launch of Rcloud – a purpose-built cloud dedicated to regulatory reporting – exemplifies Regnology’s commitment to leveraging cutting-edge technologies. The cloud-native Rcloud platform, in collaboration with Google Cloud, provides unparalleled flexibility and scalability, allowing financial institutions to access modernised regulatory reporting functions efficiently.

Regnology’s rearchitecture of the Abacus solution and migration to Kubernetes cloud-ready infrastructure ensure improved operational performance and reporting quality. The latest upgrades, including a new calculation engine, support modern infrastructure, harmonise data models, streamline workflows and automate processes.

Regnology’s extended focus on environmental, social and governance (ESG) initiatives includes the launch of an ESG module supporting compliance with the European Union’s Taxonomy Regulation and development of Corporate Sustainability Reporting Directive reporting. The acquisition of Invoke – specialising in European Single Electronic Format reporting using Inline Extensible Business Reporting Language submission technologies – further enhances Regnology’s capabilities in ESG data and reporting solutions.

Linda Middleditch, chief product officer at Regnology, says:

“By serving both sides of the regulatory reporting market, we have developed a unique perspective on the data practices and workflow modernisation challenges needed to proactively adjust to the fast-evolving regulatory landscape. We are honoured to have our efforts gearing our solutions toward greater data quality, efficiency and innovation recognised at the Markets Technology Awards with the Regulatory reporting product of the year title".

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