Leveraging its landmark Rcloud platform, launched in partnership with Google Cloud in 2022, Regnology is accelerating the industry’s transition toward fully-fledged cloud deployment and service capabilities for regulatory compliance processes. In the past two months, over 100 banks across Europe have been signed on Rcloud.

With the combined power of the Google Cloud and Regnology’s best-of-breed regulatory reporting software and regulatory expertise, Rcloud enables automation and streamlining of the reporting workflow and processes in a perpetually evolving regulatory environment. Firms relying on the hosted platform can remain one step ahead of regulatory reporting requirements and technological change, while realizing efficiencies that protect resources and help them refine their competitive edge.

Rob Mackay, chief executive officer at Regnology, said: “With Rcloud, financial institutions and business organizations can become consumers of regulatory services and focus on a strategic data-driven compliance approach, instead of investing resources to continuously reshuffle their reporting infrastructure and processes pressed by accelerated regulatory reporting changes.”

Toby Brown, managing director, Global Banking Solutions for Google Cloud, said: “With this move to Google Cloud, Regnology is building a platform that is reliable, sustainable, secure, and scalable, to help address the data and infrastructure challenges facing the regulatory reporting industry.”

Mackay concludes: “As regulators’ demands consume increasingly vast and complex regulatory reporting datasets in real time, the cloud is one of the keys to help streamline the last mile of reporting for the regulated and the regulators’ first-mile data collection. Coupled with the ability to foster the industry’s transition to carbon-free reporting infrastructures, we believe that this is what the future of regulation looks like.”

Rcloud will leverage Google Cloud’s infrastructure to augment Regnology’s regulatory banking and tax reporting capabilities and make all future regulatory requirements and AI innovation opportunities 100% cloud-deployed.