Munich April 26, 2022 With the joint offering of leading RegTech Provider cleversoft and Avaloq, a global leader in digital banking solutions, financial institutions can seamlessly fulfill the extensive requirements of the EU Regulation 2019/2088 on Sustainable Finance Disclosure.
The European financial services industry is scrambling to comply with the EU’s newest regulations surrounding the ESG topic, namely SFDR, Taxonomy and NFDR in time for the upcoming reporting requirements on January 1, 2023. Avaloq and cleversoft group’s combined service offering allows asset management companies, private banks and insurance undertakings, falling under the definition Financial Market Participants (FMP) to seamlessly fulfill these requirements. With the SaaS and cloud-based offering from both companies, financial institutions can increase the efficiency of their IT operations.
With this service proposition both companies build on their previous joint success for mastering EU PRIIPs and related regulations for their clients already by leveraging an Avaloq adaptor connecting directly to the cleversoft cloud platform to retrieve party PRIIPs KIDs & data as well as generating PRIIP documents i.e., for OTC Trades.
The ESG disclosure service from Avaloq and cleversoft is based on the portfolio data in the Avaloq core banking platform connected to cleversoft’s cloud-based regulatory reporting suite to fully automated produce SFDR disclosures for I.e., discretionary mandates of private banking clients, mutual funds from asset management companies as well as insurance portfolios.
Florian Clever, Founder & CEO of cleversoft adds: “With this partnership we build on a long-standing and proven relationship with Avaloq. We and our clients are happy to again provide investors with an easy-to-use service to comply with the newest EU regulations around ESG topics.”
Founded in 2004, the cleversoft group is a leading cloud based RegTech provider for financial services. The company is headquartered in Munich with offices in Amsterdam, The Hague, Frankfurt, Nuremberg, Luxembourg and Sofia. cleversoft provides digital solutions to more than 1000 financial institutions around the globe to support business processes for regulatory documents, marketing materials, as well as commission payments including regulations like MIFID II, 6AMLD, PIFI2, Solvency II, IFRS 17, PRIIPs, IORP.