The increasing complexity in regulatory reporting and associated higher costs with simultaneous cost pressure presents many banks with challenges. Operation of software solutions, whether it is an own development or an off-the-shelf standards based software package, is a significant cost block and time expenditure for banks.
Cost driving factors may, for instance, consist of lack of subject or technical knowledge, particularly in release changes, costs for hardware and administration, or time-consuming coordination with the computing centre. However, since supervisory regulatory reporting is not the core business of banks, many banks seek solutions which make it possible to handle regulatory reporting in a simpler and more cost-effective manner.
To support you in ensuring cost-effective operation, we have developed a modular and individually configurable service range for "Managed Services ABACUS/DaVinci". The range of services covers all aspects of the operation of a solution for regulatory reporting. It covers the technical (ASP) as well as the special (BPO) operation of regulatory reporting within the framework of Run-the-bank and amendments in regulatory reporting on account of new statutory requirements and new products within the framework of Change-the-bank.
The offer of Managed Services covers a broad spectrum of services and service modules, which can be combined to form an individual service offer for the customer. The service modules form three higher-level service packages:
Within these service packages there are in turn a number of components and individual activities which you can select. If you are interested we can jointly determine the desired extent of a managed service and based on that we shall provide you with an individual offer.
There are currently 48 customers in 8 European countries who are engaging Managed Services to run Abacus Solution Suite products such as, ABACUS/DaVinci, ABACUS/Solvency II, ABACUS/Transactions, ABACUS/GMP and ABACUS/LiMa.
The following beneficial effects can be implemented through Managed Services for the technical operation (ASP):
Further benefits are seen in the implementation of a BPO/a “regulatory reporting factory”