SS&C Technologies Holdings, Inc. announced a strategic partnership with Regnology, a leading regulatory reporting technology company, to help clients tackle upcoming regulatory requirements. SS&C Algorithmics will combine its risk calculations with Regnology’s regulatory reports to help clients meet the European Banking Authority’s Interest Rate in the Banking Book (IRRBB) reporting requirements. The deadline for implementation of the new Asset Liability Management (ALM) reporting is September 2024.
“A combined offering from Regnology and SS&C Algorithmics is a valuable proposition for a company like Deutsche Kreditbank AG (DKB),” explains Sven Maecker, Senior Specialist Reg & Tech, DKB. “We are constantly looking for ways to improve efficiency and adequately cope with the ever-increasing pace of regulatory developments.”
The partnership creates an extensible framework to support both regulatory and management needs for ALM IRRBB and Liquidity Risk regulations. The offering streamlines regulatory and risk management workflows, reduces operational complexities and enhances efficiency with an end-to-end cloud-enabled offering. The risk and reporting solution spans data input and powerful calculations to streamlined reporting workflows for report creation and submission. Leveraging SS&C Algorithmics’ risk calculations and more than 10,000 validation rules from Regnology enables the delivery of accurate and smooth regulatory reports.
“This partnership is a testament to our shared commitment to innovation in financial risk management,” said Mina Wallace, Senior V.P. and General Manager, SS&C Algorithmics. “Our combined expertise and technology will empower financial institutions with best-in-class solutions to navigate the complexities of risk and compliance. Moreover, SS&C’s cloud-based infrastructure will enable the delivery of solutions quickly to meet upcoming deadlines without extensive internal infrastructure development.”
The joint solution addresses:
- Risk and regulatory reporting and management needs of EBA IRRBB-SA within Europe;
- End-to-end Liquidity Risk in North America; and
- ALM and Liquidity Risk capabilities in other global markets.
“The collaboration between Regnology and SS&C Algorithmics is poised to harness the strengths of both entities,” explains Rob Mackay, CEO of Regnology. “SS&C Algorithmics’ expertise in risk analytics complements Regnology’s integrated and regulatory reporting experience to create a powerful offering to address the evolving needs of financial institutions.”
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