VERMEG Completes Major Sale of RegTech Division to Regnology

VERMEG Sells Agile RegTech Division to Regnology

VERMEG, a prominent software solutions provider for the financial services industry, has recently announced a significant strategic move by entering into an agreement to sell its RegTech division, Agile, to Regnology. This decision underscores VERMEG’s commitment to concentrate on its core competencies such as Collateral Management and Insurance, while also ensuring the continued success of the Agile team under Regnology’s management.

Understanding Agile and Its Role

For many years, Agile has played a crucial role within VERMEG as a specialized segment dedicated to regulatory technology. It makes up about 10% of VERMEG's workforce and has gained acclaim for its innovative SaaS platform that provides comprehensive regulatory reporting solutions. This platform streamlines the entire process from data ingestion and calculation to final reporting, positioning Agile as a pivotal player in a complex regulatory landscape.

The Significance of the Sale

By selling Agile, VERMEG aims to sharpen its focus on its key strengths. The company, which has a long-established presence in asset servicing, has cultivated a robust portfolio that includes offerings ranging from corporate actions to life insurance products. The divestiture not only aligns with VERMEG's long-term strategies but also allows it to allocate resources more effectively towards its primary business areas.

Looking Back at VERMEG's Growth Journey

The acquisition of Lombard Risk in 2018 was a landmark event for VERMEG, propelling it into the Anglo-Saxon markets and cementing its position as a global leader in Collateral Management. The integration of Lombard Risk's capabilities with VERMEG's existing offerings has been fundamental to the company’s successful expansion, fueled by the expertise developed in Tunisia, which continues to contribute significantly to VERMEG’s operational excellence.

A New Era for Agile Under Regnology

Regnology is recognized globally for its excellence in regulatory reporting and supervisory processes. The transition of Agile to Regnology not only broadens Regnology’s international reach but also allows it to leverage the talents and skills of the Agile team. This strategic alliance creates a platform for enhanced service delivery and development opportunities, ensuring Agile's technological innovations reach new heights under Regnology's umbrella.

VERMEG's Future Focus

As VERMEG pivots towards its financial technology strengths, it positions itself for greater growth and innovation in the industry. This strategic realignment emphasizes its dedication to delivering exceptional value to clients, particularly within Banking & Market Infrastructure and Insurance sectors. Badreddine OUALI, co-CEO and Founder of VERMEG, noted that this sale reflects the company's ongoing commitment to sustainability and employee success, enabling a redirection of energy towards key initiatives.

About VERMEG

Founded in 1993, VERMEG has established a strong presence with over 500 blue-chip clients across 40 countries in sectors such as banking, insurance, and wealth management. The company is dedicated to providing top-notch software solutions to automate processes and facilitate digital transformation in the financial services sector. With its headquarters in Amsterdam and a workforce exceeding 1,000 professionals internationally, VERMEG continues to lead the charge in financial technology.

About Regnology

Regnology stands as a leading innovator in solutions for supervisory, regulatory, and tax reporting, serving an extensive client base that includes over 35,000 financial institutions and 70 regulators. The company's capabilities in data collection and regulatory reporting enable it to assist clients in navigating the intricacies of compliance in today’s rapidly evolving regulatory environment.

Frequently Asked Questions

What does the sale mean for Agile's future?

The sale of Agile to Regnology allows it to operate under a leader renowned for excellence in regulatory reporting, opening up new opportunities for growth and innovation.

What was VERMEG's motivation behind this transaction?

VERMEG aims to concentrate its efforts on core business areas like Collateral Management and Insurance, thereby enhancing its capacity to provide value to clients.

How has VERMEG expanded since its founding?

Established in 1993, VERMEG has grown significantly through strategic acquisitions and organic development, broadening its clientele across many countries.

What makes Agile's technology stand out?

Agile is recognized for its comprehensive, modular SaaS platform that simplifies regulatory reporting, ensuring compliance through innovative solutions.

What will be the impact on VERMEG's workforce?

While Agile constitutes 10% of the workforce, VERMEG's future focus aims to enhance employee engagement and growth in its remaining core divisions.

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