Clearstream taps Regnology’s Rcloud for regulatory reporting powered by Google Cloud
“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.”
Clearstream Banking AG, the central securities depository and leading provider of global post-trade services owned by Deutsche Börse Group, has partnered with RegTech firm Regnology to leverage its Rcloud, powered by Google Cloud Platform (GCP)).
Clearstream’s intent to move from on-premise regulatory reporting to the cloud highlights the reliability and security of the Rcloud platform, which was launched in partnership with Google Cloud in November 2022.
The migration is still subject to regulatory approval.
Rcloud was launched in November 2022
Clearstream Banking AG, which settles more than 250,000 transactions daily for customers in over 110 countries, is a leading international financial infrastructure provider, abiding by strict compliance requirements of German and Luxembourg authorities.
Rcloud’s ultra-elastic scalability along with reliable and fast report submission and always up-to-date reporting data and software are meant to offer all the benefits of a modern regulatory-as-a-service solution.
As for the cloud framework powered by Google Cloud, 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.
On top of that, Regnology’s partnership with Google Cloud includes a sustainability effort, matching 100% of its electricity consumption with renewable energy purchases.
“We see cloud adoption acceleration amongst our customers”
Antoine Moreau, Chief Technology Officer at Regnology, said: “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.”
Maciej Piechocki, Chief Revenue Officer at Regnology, commented: “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.”
Volker Riebesell, Chief Technology Officer at Clearstream Banking AG, said: “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.”
Regnology caters to more than 35,000 financial institutions, 70 regulators, international organizations and tax authorities. The firm has over 900 employees in 17 countries and a unified data ingestion model powering its work.
