Regnology, a leading software provider with a focus on regulatory reporting solutions, announced today that its client Clearstream Banking AG, central securities depository and leading provider of global post-trade services, has signed on to use its Rcloud technology (powered by Google Cloud Platform (GCP)).
While the migration is still subject to regulators’ approvals, Clearstream’s intent to move from on-premise regulatory reporting to the cloud highlights the reliability and security of the Rcloud platform. Regnology launched its Rcloud solution in partnership with Google Cloud in November 2022.
Clearstream, Deutsche Börse Group’s post-trade business for the global markets, offers one of the most comprehensive international securities services available, settling more than 250,000 transactions daily for customers in over 110 countries. Being an international financial infrastructure provider, Clearstream abides by strict compliance requirements of German and Luxembourg authorities.
“Clearstream’s decision to move to the Rcloud platform is a landmark moment because of the trust that Clearstream put in our technological partnership with Google Cloud,” said Antoine Moreau, Chief Technology Officer at Regnology.
“As one of our valued clients, Clearstream Banking AG has relied on our regulatory expertise and technology to support their reporting obligations for years. Due to its position and status as one of Europe’s most heavily regulated entities, Clearstream’s selection of Rcloud speaks volumes about their trust in our depth of knowledge and the added scalability and performance benefits of our cloud solution. We see cloud adoption acceleration amongst our customers and believe our regulatory expertise team with the GCP know-how can help build the foundation for an industry cloud approach to financial services regulatory reporting,” added Maciej Piechocki, Regnology’s Chief Revenue Officer.
“With our hybrid, multi-cloud strategy, Deutsche Börse Group sets new standards for cloud innovation across the financial services industry. We are very satisfied to be one of the first institutions to sign on to the Rcloud platform. In Regnology, we found an excellent partner for the next step on Clearstream’s cloud journey, supporting our clients with state-of-the-art regulatory reporting solutions,” said Clearstream Banking AG CTO, Volker Riebesell.
The Rcloud platform delivers ultra-elastic scalability along with reliable and fast report submission and always up-to-date reporting data and software, offering all the benefits of a modern regulatory-as-a-service solution. Going beyond standard cloud frameworks, Rcloud offers improved deployment and infrastructure-as-code services, run and change management automation, and additional benefits including self-service via the Regnology Cloud portal, and future-proofed architecture for additional services and products. Regnology’s partnership with Google Cloud, which matches 100% of its electricity consumption with renewable energy purchases, also ensures that sustainability is built into the platform.