German commercial bank DZ Bank is now operating Regnology’s Abacus360 for its central regulatory reporting operations across the banking group and its affiliated cooperative banks.
DZ Bank is operating Regnology’s service using open source system Kubernetes on OpenShift, a containerisation application platform.
Regnology Abacus360 offers financial institutions cost-efficient scaling opportunities and uses cloud-based computing.
Combined with a service-oriented architecture, the service is designed to help harmonise data models, streamline workflows, and automate calculation and reporting processes.
Jens Benecke, divisional manager of group finance services, and Dr Holger Kumm, division head IT, at DZ Bank, say: "This technical go-live marks the initial phase of our reporting transformation project. It is a major step toward achieving our strategic goal of centralising our reporting operations while at the same time becoming cloud-ready.”
Denise Seitz, chief technology officer at Regnology, comments: "We have worked with DZ Bank for many years supporting its complex regulatory reporting chain. This project illustrates the strength of Regnology Abacus360 and its ability to meet the reporting needs of banking groups at scale.
“It also proves that it is an essential component for banks on their transformational journey to modernise and innovate their regulatory technology stack.”
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