Connecticut-based software and services provider SS&C Technologies Holdings has partnered with Regnology to tackle upcoming regulatory requirements.
The partnership creates an extensible framework to support both regulatory and management needs for Asset Liability Management (ALM) European Banking Authority's (EBA’a) Interest Rate in the Banking Book (IRRBB) and liquidity risk regulations.
SS&C Algorithmics will combine its risk calculations with Regnology's regulatory reports to help clients meet the IRRBB reporting requirements.
The new ALM reporting rules will be implemented in September 2024.
The two firms say this offering will streamline regulatory and risk management workflows, reduce operational complexities and enhance efficiency with an end-to-end cloud-enabled offering.
The risk and reporting solution spans data input and calculations to streamlined reporting workflows for report creation and submission.
Commenting on the partnership, Mina Wallace, senior vice president and general manager at SS&C Algorithmics, says: “This partnership is a testament to our shared commitment to innovation in financial risk management.
“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.”
Regnology CEO Rob Mackay adds: “The collaboration between Regnology and SS&C Algorithmics is poised to 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 to address the evolving needs of financial institutions.”
