The joint project with Berlin Hyp as pilot customer is to be launched to the market as a product for other banks
AMSTERDAM–(BUSINESS WIRE)–#Abacus360–BearingPoint RegTech, one of the leading providers of Regulatory and Risk Technology (RegTech/RiskTech), announced today that they are developing a solution for the integration of the SAP Financial Services Data Management (FSDM) data model on Abacus360 Banking for use in regulatory reporting in a joint project with their customer Berlin Hyp and cooperation partners SAP and okadis Consulting GmbH.
With Abacus, BearingPoint RegTech is a market-leading provider of reporting software in Germany. Banks use this software to report data to national and European supervisory authorities. For this purpose, data from different source systems must be delivered to the Abacus system. Many banks use SAP systems, but until now there has been no standard interface for data delivery from FSDM. For the institutions, this means high expenditure for the development of individual interfaces. The partners involved have therefore decided to jointly develop an interface for data delivery for regulatory reporting, which can then also be used by other banks. okadis Consulting GmbH is developing the interface between the SAP ERP system of Berlin Hyp and FSDM, while BearingPoint is developing together with SAP the interface between FSDM on SAP HANA, the high performance platform of SAP, and Abacus360 Banking.
Roman Berninger, Chief Financial Officer, Board Member of Berlin Hyp: “The development of a uniform Risk&Finance platform with Abacus360 on SAP Hana is a central building block in Berlin Hyp’s digitization strategy. By developing a future industry solution with highly standardized interfaces, we expect a significant reduction in effort, a reduction in redundancies, better performance and, above all, greater efficiency of the entire reporting process.”
Dirk Kruse, Head of Financial Services Germany, Member of the Executive Board / Member of the Management Board SAP Germany says: “The basis for the Intelligent Enterprise is the competence to process large amounts of data and to gain insights in real time. Our software SAP Financial Services Data Management FSDM offers Berlin Hyp this capability and automates the reporting and reporting processes. Analysis functions such as accounting, reporting, risk controlling and customer analyses work with SAP FSDM on a harmonized data basis. This enables the digitalization of the entire value chain and reduces coordination and interface costs in financial services companies. A central data management using SAP FSDM covers current needs and is the prerequisite for a flexible fulfillment of future requirements.”
Björn Jonas, Managing Director at okadis and member of the HANA Strategy Board at Berlin Hyp: “Standardization, freedom of logic and a central data budget are the focus of the entire project. Through professional and technical competence, we can contribute to the introduction of a SPOT architecture in HANA with SAP FSDM, which not only meets the requirements of regulatory reporting but also the requirements of the entire bank. We are proud to have been able to support Berlin Hyp in this project from the very beginning in all SAP HANA development and concept areas.”
Jürgen Lux, Chief Executive Officer BearingPoint RegTech, comments: “We see ourselves as a provider of innovative solutions along the regulatory value chain with the aim of making regulatory reporting more efficient. This is demonstrated by our joint project with Berlin Hyp, SAP and okadis. By developing harmonized software products, we can offer banks an integrated solution for data storage, management and regulatory reporting.”
BearingPoint announced the development of the new software generation Abacus360 Banking at the end of 2015. The Abacus360 platform offers a new, innovative calculation core that enables a significant increase in performance and operational flexibility. “Integration for FSDM” is an Abacus360 module that allows the loading of Abacus360 input data from the SAP FSDM data model. The module includes comprehensive business transformation rules that allow banks to transform data from SAP FSDM into Abacus360 input data without developing an individual interface.
Berlin Hyp has long been a BearingPoint RegTech customer and is one of the pilot customers of the new Abacus360 software generation.
SAP and BearingPoint are working closely together to develop the respective products SAP FSDM and Abacus360 Integration for FSDM within the framework of a contractually agreed software development cooperation.
okadis Consulting GmbH is a long-standing cooperation partner of BearingPoint RegTech and a strategic partner of Berlin Hyp for the implementation of the HANA roadmap.
BearingPoint is an independent management and technology consultancy with European roots and a global reach. The company operates in four units: Consulting, Solutions, Business Services, and Ventures. Consulting covers the advisory business; Solutions provides the tools for successful digital transformation, advanced analytics and regulatory requirements; Business Services provides managed services beyond SaaS; Ventures drives the financing and development of start-ups. BearingPoint’s clients include many of the world’s leading companies and organizations. The firm has a global consulting network with more than 10,000 people and supports clients in over 75 countries, engaging with them to achieve measurable and sustainable success.
For more information, please visit:
Annual Report: https://www.bearingpoint.com/en/about-us/annual-report/
About BearingPoint RegTech
BearingPoint RegTech, a business unit of management and technology consultancy BearingPoint, is a leading international provider of innovative regulatory and risk technology solutions (RegTech and RiskTech) and services along the Regulatory Value Chain for financial services.
Customers representing 6,000 firms worldwide, among them large international banks, a major part of the largest European banks, leading insurance companies as well as supervisory authorities and central banks, trust BearingPoint RegTech’s products and services.
BearingPoint RegTech works closely with regulators and, as a member of standardization bodies such as XBRL, actively contributes to the standard-setting process. BearingPoint RegTech combines regulatory know-how with proven, reliable and forward-looking RegTech solution suite, expert consulting capabilities, managed services and training seminars.
For more information, please visit: www.reg.tech
Senior Manager Communications
Telefon: +49 69 130 22 36 66
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