Lombard Risk is renamed under VERMEG brand

Lombard Risk has been renamed under VERMEG brand, which has created a new leader in software solutions for financial services.

According to the European banking and insurance software solutions leader, VERMEG, this completes a crucial step in their ambition to form a leading force in financial services software solutions.

Lombard Risk will transition to the VERMEG brand in all countries where it operates from 1 October this year.

Additionally, it will introduce new product enhancements and increased research and development as part of the acquisition.

VERMEG is now establishing itself as a new leader in software solutions for collateral management and integrated regulatory reporting, serving central banks, investment banks, and asset managers.

Pascal Leroy, CEO of VERMEG, said: “Under one brand, VERMEG is now an integrated company providing a full suite of software products to the financial services industry.”

“With Lombard Risk’s established expertise in collateral management and regulatory reporting solutions now fully incorporated, we have increased our business lines and expanded our geographical footprint across five continents.”

Badreddine Ouali, chairman of VERMEG, commented: “Lombard Risk’s products are at the heart of VERMEG's long-term strategy in the banking market and we are committed to investing in R&D to further enhance our offering in this area.”

Ouali added: “The specialist expertise and insight that Lombard Risk brings VERMEG is an extremely important addition to our product suite and will help us deliver a more comprehensive selection of software solutions.”