Regtech specialist Regnology has been selected by La Banque Postale, France’s postal bank, to automate its reporting processes.
Abacus360 Banking, Regnology’s flagship regulatory reporting and management platform, will become La Banque Postale’s single reporting platform for the European and French reporting regimes.
The vendor says it was chosen “following an extensive selection process on the back of the launch of the bank’s innovative transformation programme”.
The scope of reporting requirements covers the full extent of ECB, EBA, SRB, ESG and Banque de France regulatory frameworks.
The bank will also utilise other components of the Regnology Abacus suite to optimise data collection, cashflow generation and testing, the provider adds.
“We were looking for a partner that could provide us with a software that would fit from a strategic, functional, and technical perspective,” comments Stéphane Remy, director risk/finance at La Banque Postale.
“Right from the start, Regnology’s team showed strong commitment and dedication and convinced us with their strong offering.
“We aim to reduce reporting production times as well as industrialise and automate our reporting processes.”
With its subsidiaries, including CNP Assurances, La Banque Postale is a large European banking and insurance player with 20 million individual and corporate customers. It is ranked 11th in the euro zone by balance sheet assets.
In France, the conglomerate provides local banking services through 17,000 contact points, including 7,300 post offices, via its three distinct brands: La Banque Postale (everyday bank), Ma French Bank (mobile-only bank) and BPE (private bank).
Regnology (formerly BearingPoint RegTech) is a long-standing regulatory reporting software provider with over 30 years in the market. It counts more than 7,000 financial institutions, 30 regulators and 20 tax authorities as clients; and employs 700 people in 12 countries.
The Regnology brand was introduced in 2021, following the merger of Frankfurt, Germany-based BearingPoint RegTech (sold by BearingPoint to Nordic Capital at the end of 2020) and Vizor Software, a regtech and suptech provider based in Dublin, Ireland.