Raiffeisen Bank International selects Abacus for transaction-based reporting

18 January 2018

One of Austria’s leading commercial and investment banks has opted for BearingPoint’s software solution to meet the MiFID II/MIFIR, EMIR II, MMSR and SFTR reporting requirements 

Management and technology consultancy BearingPoint announced that Raiffeisen Bank International (RBI) has decided on its ABACUS/Transactions software solution to fulfil several transaction-based reporting requirements. With ABACUS/Transactions, RBI will submit the daily reports according to the revised Markets in Financial Instruments Directive (MiFID II) and the accompanying Markets in Financial Instruments Regulation (MiFIR). BearingPoint, one of the leading providers of Regulatory and Risk Technology (RegTech/RiskTech), also offers the option to meet the reporting obligations under the ECB’s Money Market Statistical Reporting (MMSR), the revised European Market Infrastructure Regulation (EMIR) as well as the Securities Financing Transactions Regulation (SFTR) with ABACUS/Transactions.

“As an important player in the financial market, we need to meet the whole range of transaction-based reporting requirements. With ABACUS/Transactions, we have found a software which can be used for various reporting types. This is time-saving, cost-effective, and will make our work much easier in the future, since we have to prepare and deliver the data only once,” says Fariborz Nourani, Head of Division Head Office Operations at RBI.

“We are proud that one of Austria's leading commercial and investment banks has opted for ABACUS/Transactions. Regulatory requirements for banks are constantly changing, and when coupled with the growing complexity of financial products, our software solution helps customers successfully master these challenges. With the RBI project, we continue to drive our international growth strategy,” says Robert Bosch, Partner at BearingPoint.

ABACUS/Transactions is an established standard software solution for transaction-based reporting. The product offers synergies by using one software solution consisting of several modules to support different types of transaction-based reporting. The layer structure gives the customer the flexibility to use the modules individually or in combination with other ABACUS/Transactions modules. The product is based on the proven Abacus platform, which has been successfully used for a wide range of regulatory reports for many years.

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