Swedish financial regulator picks BearingPoint to boost data analysis
Sweden’s Financial Supervisory Authority (Finansinspektionen) has selected BearingPoint’s Abacus Regulator to improve the analysis of its financial and prudential data.
The regulator was reportedly looking for a new provider to help it streamline data collection processes, validation, monitoring and analysis.
Abacus Regulator will digitise data collection for the European Banking Authority (EBA), European Insurance and Occupational Pensions Authority (EIOPA), and European Securities and Markets Authority (ESMA) reporting.
BearingPoint is also set to cover implementation, service, and support for the platform, including updates, upgrades, and consulting services.
According to the vendor, an increasing number of supervisory authorities are turning to technology to support their work, leveraging so-called supervisory technology to digitise their reporting and regulatory processes.
“We are delighted about the trust that Finansinspektionen has placed in us as a partner for data collection and data management,” says Jürgen Lux, CEO at BearingPoint.
Filip Rydman, country lead for Sweden at the firm, adds that BearingPoint has been active in the country for seven years and looks forward to a long-term collaboration with the regulator.