Dutch wealth management firm selects ABACUS/DaVinci as a Regulatory-as-a-Service (RaaS) solution to streamline regulatory reporting processes within a short timeframe
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.