Regulatory technology (regtech) firm, b.fine announced on Tuesday its partnership with Point Nine for extending its trade and transaction reporting capabilities.
“Our aim is to provide a peace-of-mind trade and transaction reporting service to all market participants in the capital markets,” said CEO of Point Nine, Andreas Roussos.
“Our partnership with b.fine will combine our proficiency, in this way, will enable existing and potential clients to benefit from our leading products and services as well as their regulatory expertise.”
Fueling Demand for Regtech’s Services
Based in Belgium, b.fine has developed its regtech ecosystem on its b.rx platform. The reporting platform claims to make regulatory reporting less complex, more efficient and more cost-effective. The company offers a cloud -based reporting-as-a-service solution, bringing automation and control of the reporting process to financial institutions.
It now includes Point Nine’s trade and transaction reporting solution into the b.rx Marketplace to extend reporting coverage.
Klaas Van Imschoot, the CEO of b.fine, said: “Our idea of the b.rx Marketplace is to create an extensive RegTech ecosystem from which the reporting platform can be composed according to your needs. Partnering with Point Nine and making their platform available on the b.rx Marketplace allows us to go beyond regulatory reporting and provide financial institutions an answer to the trade and transaction reporting challenges.”
The need for regtech solutions has exploded around the world in recent years with the heightened need for regulatory reporting. A recent report by IHS Markit revealed that financial institutions are now preferring vendor-based regtech solutions rather than developing an in-house reporting infrastructure.
Further, the demand for regtech services has accelerated acquisitions in the industry. Last year, IHS Markit (now a part of S&P Global) acquired Capitech for an undisclosed sum, while Fenergo acquired Sentinels.
