BearingPoint Inks Deal to Acquire Ireland’s Vizor to Combine Their Regtech Portfolio
by Fintechnews Switzerland June 18, 2021BearingPoint RegTech, a European provider of innovative regulatory, risk, and supervisory technology solutions, has acquired Vizor Software, a Dublin-based regulatory and supervisory technology provider for an undisclosed sum.
The current management team at Vizor will remain and work in close partnership with BearingPoint.
The combination of the two companies complements each others solution portfolios within the regulatory and supervisory technology space. Furthermore, the two companies serve complimentary geographies.
While BearingPoint can rely on a strong customer base in Germany, Austria and Switzerland and a growing presence in adjacent geographies such as Benelux, Ireland, the Nordics, and the UK, Vizor’s customers are primarily based in Africa, Asia, Australia, Canada, and Middle East.
The group will provide innovative regulatory, risk, and supervisory technology solutions to all stakeholders across the regulatory value chain.
The combined organisation will maximise synergies in product development and innovation to create even more value for their customers.
Together, BearingPoint and Vizor serve more than 7,000 firms including banks, insurance companies, and financial services providers with reporting solutions.
At the same time, they enable more than 50 regulators and tax authorities to collect and analyse data from 34,000 firms in 60 countries.
Conor Crowley
Conor Crowley, CEO at Vizor Software, comments:
“Since we founded Vizor over 20 years ago, we have made the company a renowned technology provider for central banks, regulators and tax authorities around the world. Vizor’s decision to join forces with RegTech is crucial for the further development and international growth of our company.
We look forward to opening a new chapter together with RegTech not only in the history of our company, but also in the field of RegTech and SupTech.”
Emer FitzPatrick
Emer FitzPatrick, Country Lead Ireland at BearingPoint RegTech added,
“As Country Lead Ireland, I am particularly excited about the combination of RegTech and Vizor. Our Irish team will now not only be part of a large international RegTech provider, but also part of a larger organisation in Ireland.
We look forward to working with the management and entire team at Vizor, with whom we share not only a very similar vision and mission, but also cultural values.”
