SS&C Announces Financial Risk and Regulatory Reporting Partnership with Regnology
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The strategic partnership between SS&C Technologies Holdings, Inc. and Regnology represents a significant development in the financial technology sector, particularly for financial institutions grappling with the complexities of regulatory compliance. The collaboration aims to streamline the compliance process with respect to the European Banking Authority's Interest Rate in the Banking Book (IRRBB) reporting requirements and other liquidity risk regulations.
From a financial perspective, this partnership could lead to potential cost savings for clients through increased efficiency and reduced need for in-house infrastructure development. The cloud-based solution could also attract new customers seeking to minimize compliance-related expenses. It is essential to consider the competitive landscape and how this partnership may influence SS&C's market position. The ability to quickly adapt to regulatory changes is a valuable asset and SS&C's stock performance could reflect investor confidence in the company's strategic initiatives.
The demand for integrated risk and regulatory reporting solutions is on the rise as financial institutions face an ever-evolving regulatory environment. This partnership leverages SS&C Algorithmics' risk calculations and Regnology's regulatory reports, potentially setting a new industry standard for ALM IRRBB and Liquidity Risk compliance tools. The use of more than 10,000 validation rules from Regnology underscores the robustness of the offering.
Market research would suggest that institutions that can provide a comprehensive, cloud-enabled and extensible framework for regulatory compliance will likely see increased demand. The partnership's ability to address needs in various global markets positions it to tap into a broader client base, which could translate into increased revenue streams for both SS&C and Regnology.
Regulatory compliance, particularly in the financial sector, is fraught with legal complexities. The partnership's focus on meeting the European Banking Authority's IRRBB reporting requirements indicates a proactive approach to compliance. Legal scrutiny of such solutions is critical, as they must align with international regulatory standards and data protection laws, especially in cross-border applications.
The legal implications of this partnership also extend to the contractual obligations between SS&C, Regnology and their clients. The success of this partnership will hinge on the ability to not only meet current regulatory demands but also to quickly adapt to future legal and regulatory changes. This adaptability could become a key differentiator in the market, potentially influencing the legal strategies of competitors and the industry at large.
Partnership delivers a fully integrated risk and regulatory reporting solution for streamlined compliance and analytical insights, enabling institutions to adapt swiftly to regulatory changes
"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
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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