âPrimarily, we were searching for an automated regulatory reporting solution to answer increasing demand from our worldwide banking clientele,â commented Mr. Alexander Dembitz, Chairman of the SOFGEN Group. âThis acquisition reaffirms the company's commitment to be at the forefront of key growth market segments. The SOFGEN Group will aggressively extend the geographic limits of REG-Reporter, for it to comply and satisfy the statutory reporting requirements in various jurisdictions, initially Singapore, Hong Kong, and the needs of existing REG-Reporter clients outside the USA.
âFor the past two decades, our ability to continuously adapt to our customersâ needs has allowed us to maintain our position as the de-facto industry leader in U.S. banking regulatory reporting,â said Vincent Raniere, former President of IDOM, Inc. and newly appointed EVP-Global Head of Product Sales at SOFGEN. âAs part of SOFGEN, we look forward to accelerating our development and reaching an even wider audience with the most advanced regulatory reporting solution in the market.â
âThis strategic acquisition, in addition to providing SOFGEN with a new business line globally, expands our Americas footprint with 52 prestigious banking clients,â commented Russell Rothchild, CEO, SOFGEN Americas.