The Franco-German regional bank successfully introduced the modular standard solution ABACUS/Transactions to meet its SFTR reporting requirements.

Since July 2020, the Securities Financing Transactions Regulation (SFTR) determines the reporting obligations for securities financing transactions. The objective of the regulation is to reduce systemic stability risks through increased transparency. However, both the complexity and the strict and tight reporting deadlines pose major challenges for institutions across Europe. Due to the complex purchase and repurchase of securities (REPO business) in particular, SaarLB needed a new solution to quickly fulfill their increased regulatory requirements.

“We were looking for a trustworthy partner who could sustainably meet our complex requirements directly after the implementation of the software without further adjustments. Due to longstanding expertise in reporting and a high level of efficiency and automation, we quickly decided on ABACUS/Transactions and therefore BearingPoint RegTech,” says Sandra Lutsch, Head of Department Securities Service and Interest and Currency Management at Landesbank Saar.

Alexander Becht, Product Manager ABACUS/Transactions at BearingPoint RegTech, adds: “Our goal is to always respond quickly and effectively to changes in regulatory requirements and provide corresponding solutions. Speed is usually one of the crucial factors for our customers. We are pleased to have convinced SaarLB of our offer and would like to extend our cooperation in the future."