BearingPoint named as the winner for its innovative approach at the FCA’s recent TechSprint event, themed around ‘Unlocking Regulatory Reporting’
Management and technology consultancy BearingPoint, which ranks among the leading providers of regulatory software, has been awarded a top prize by a cross-industry judging panel at the recent FCA TechSprint event for providing a solution which has the biggest potential to move the UK regulatory market forward.
The FCA TechSprint event is the second of its kind and has been developed to help the industry build strategic responses to industry problems. This TechSprint event focused on the theme of ‘Unlocking Regulatory Reporting’, to which BearingPoint teamed up with Model Drivers – a niche technology consultancy – to develop a solution to address the complexity of the UK regulatory reporting environment.
Presenting a solution based on our Abacus360 solution, BearingPoint and Model Drivers were able to demonstrate the capabilities of the platform, the importance of embracing semantics, and the potential of the solution to bring about a truly revolutionary change to regulatory reporting in the UK.
We are honored to have been invited to participate in this TechSprint event which has allowed us to demonstrate the potential of our Abacus360 solution for the UK regulatory reporting industry. We are extremely proud to have been awarded the Jump prize for the solution - demonstrating the most potential to move the industry forward - testament to the capabilities of our solution.
Maciej Piechocki, Partner, BearingPint
The cost of compliance, and specifically Regulatory Reporting, continues to soar in the UK. It was great to be able to demonstrate that by taking a more holistic approach to this problem with a semantic based utility platform significant savings can be made across the industry as a whole.
Mark Shead, Manager, BearingPoint
We think the judges must have appreciated the innovation possibilities across the whole regulatory reporting chain. In-house systems is where the very big costs are. Model driven regulation is a game changer – our teams proposition enables firms to simplify their in-house systems as well as their regulatory reporting function.
Greg Soulsby, Director, Model Drivers
BearingPoint were also given an honorable mention at the event for the most practical development, making use of existing capabilities and which has the fastest time to develop and implement.