BearingPoint RegTech rebrands as Regnology for next phase
The former RegTech business of BearingPoint has marked its independence with a new brand identity. Regnology was spun off from its former owner via a deal with Nordic Capital, at the end of 2020.
Global consulting firm BearingPoint has consistently been active in the RegTech space since the turn of the century, when it launched its Regulatory-as-a-Service (RaaS) managed service. Since then, BearingPoint has added a suite of solutions and services to its RegTech portfolio, including offerings for risk, tax, valuation and reporting solutions for financial services (Abacus Solution Suite, ABS+, EasyTax, FiTAX, FiRE) and solutions for central banks and supervisory authorities (Abacus360 Regulator).
As the business developed, and its potential to become a successful independent firm grew, the interest of private equity firm Nordic Capital was piqued. With a track record of developing technology and software companies, BearingPoint’s RegTech portfolio combined with a bright market outlook led the investor to step into the journey.
In June 2021, the deal was further bolstered by the news BearingPoint RegTech had merged with Vizor Software. The addition of the global RegTech and SupTech firm based in Dublin meant the combined company has a history spanning more than 20 years, and can provide innovative regulatory, risk and supervisory technology solutions, AEOI and tax reporting, and regulatory reporting services along the regulatory value chain.
While it has been operationally independent from BearingPoint, one year after the private equity deal with Nordic Capital was secured, the BearingPoint RegTech has now announced a change in its branding. According to CEO Jürgen Lux, the move is an “important milestone” for the company, as it strikes out alone as Regnology.
Lux added, “We are completing the separation from the BearingPoint Group and laying the foundation for a new chapter in our joint success story with Vizor Software. The new name Regnology represents both the past and the future. I am very excited to be working with Vizor as Regnology towards our shared objective: providing a global platform connecting regulators and the industry to create a strong, stable, transparent, and sustainable financial world."
As Regnology, the firm will continue to develop solutions to connect regulators and financial institutions. In total, Regnology already serves more than 7,000 financial services firms with reporting solutions. At the same time, the company enables more than 50 regulators and tax authorities on five continents to collect data from 34,000 firms in 60 countries. Regnology has a total workforce of over 770 employees at 17 office locations in 12 countries.
Remarking on the news, Conor Crowley, CEO Vizor and Head of SupTech at Regnology, noted, "We are proud of the new brand and very much look forward to transforming the industry with innovative RegTech, SupTech and tax reporting solutions as Regnology. Together, we will drive our strategy for continued, sustainable growth."
