SS&C Technologies, a provider of financial software and services, has made a strategic partnership with Regnology, a regulatory reporting and data company, to help clients meet upcoming regulatory requirements from the European Banking Authority (EBA).
The collaboration is building a joint solution developed by SS&C Algorithmics and Regnology that addresses a wide range of needs including risk and regulatory reporting for the EBA Interest Rate Risks in the Banking Book Standard Approach (IRRBB-SA) in Europe, end-to-end liquidity risk in North America, and Asset Liability Management (ALM) and liquidity risk capabilities in other global markets.
With a deadline of September 2024 for the implementation of ALM reporting, SS&C Algorithmics will merge its risk calculations with Regnology’s regulatory reporting to facilitate clients’ compliance with the mandates.
Longer term, the partnership aims to create an extensible framework that not only meets regulatory demands for ALM, IRRBB and liquidity risk regulations, but also management needs. It will provide an end-to-end, cloud-enabled solution that simplifies regulatory and risk management workflows, diminishes operational complexities, and boosts efficiency. The solution will cover data input, calculations and streamlined reporting workflows, ensuring the smooth creation and submission of regulatory reports.
Rob Mackay, CEO of Regnology, comments: “The collaboration between Regnology and SS&C Algorithmics will harness the strengths of both entities. SS&C Algorithmics’ expertise in risk analytics complements Regnology’s integrated and regulatory reporting experience to create a powerful offering addressing the evolving needs of financial institutions.”
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