Regulatory reporting firm Regnology has acquired Belgian RegTech b.fine.
Founded in 2017 and headquartered in Belgium, b.fine has grown to a team of nearly 50 that serves over 30 institutional clients across banks, insurance companies and investment firms in the Benelux region. The firm goes beyond regulatory reporting, automating workflows for compliance teams in the last mile of the regulatory process.
In addition to its SaaS platform, b.fine also offers FS firms advisory services and managed services that let firms outsource certain parts of the reporting process.
Bert De Vriendt, CFO of b.fine says: “By joining forces with Regnology, we believe we can allow for better integration between SupTech and RegTech, and utilise its strong connections to deliver greater automatisation and standardisation practices to new clients across Europe and beyond.”
Formerly known as BearingPoint Regtech, Regnology works to connect financial services firms and regulators, claiming 7,000 financial institutions, 30 regulators and 20 tax authorities as clients.
Commenting on the acquisition, Rob Mackay, CEO of Regnology says: “We were attracted by the strong synergies between our offerings and are excited to pursue our combined ambition to address the evolution of regulatory reporting through the provision of an innovative product and service offering.”
Terms of the acquisition were not disclosed.