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SIGNAL IDUNA goes live with BearingPoint’s Abacus360 Banking

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June 17, 2020

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bearingpointBearingPoint announced today that financial services provider, SIGNAL IDUNA Bauspar AG (SIB) has gone live with the new version 7 of Abacus360 Banking.  The new version was rolled out in Spring and is based on the cluster computing framework, Apache Spark technology. The go-live took place on the 20th of May, 2020. SIB has also selected the supplier’s test automation tool ABACUS/Testing to accelerate business tests.

“​We chose Abacus and BearingPoint RegTech’s Managed Services offering at the time to reduce our regulatory reporting efforts. From the very beginning, we had a trustful cooperation at peer level – both with the Managed Service Team and with the consultant on site. The migration to Abacus360 Version 7 was excellent teamwork, and we are pleased that we were able to go live via remote work despite COVID-19,” said Andreas Surm, Head of Corporate Accounting, SIGNAL IDUNA Bauspar AG.

Abacus360 Banking is a standard software for national and international regulatory reporting, statistical and granular reporting and ad-hoc reporting. Both of the companies have been in the partnership since 2015, owing to the supplier’s provision of ABACUS/DaVinci, then Abacus360 Version 6 from 2017.

Recently, BearingPoint RegTech announced that Sweden’s financial supervisory authority, Finansinspektionen has selected Abacus Regulator for enhancing their data collection processes, validation, monitoring and analysis. Its Abacus 360 Banking solution was also chosen by GCC Capital AB (GCC) for fulfilling its EBA reporting.

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