BrazilBearingPoint RegTech acquires Vizor Software
BearingPoint RegTech has acquired Vizor Software, creating a firm with over 7,000 clients around the world.
Based in Germany, BearingPoint RegTech is an international provider of regulatory, risk, and supervisory technology solutions (RegTech, RiskTech and SupTech). Since its creation by European consultancy BearingPoint, the spin-off business has grown to over customers worldwide, including large banks (including many of the largest European banks), insurance companies as well as supervisory authorities and central banks.
According to one estimate, the market size of RegTech solutions and managed services is expected to grow from today’s $6.3 billion to $16.0 billion by 2025, at a staggering compound annual growth rate (CAGR) of 20%. As such, BearingPoint’s RegTech portfolio and the bright market outlook led investors to step into the business’ journey, with Nordic Capital – a private equity firm with a track record of developing technology and software companies – purchasing the majority of its shares last year.
Speaking at the time, Jürgen Lux, CEO of BearingPoint RegTech, said that together with Nordic Capital, the company had “formed an ambitious growth agenda,” which included further investment in its software solution suite. Now, that plan has partly come to fruition with the acquisition of Vizor Software.
Since the foundation in the year 2000, the Dublin headquartered group has been developed to serve the evolving needs of regulatory authorities around the world. In 2014, it launched Vizor AEOI, a solution which has since become a market leading solution for tax authorities. Vizor also boasts SupTech services for financial regulators, RegTech for regulatory reporting across banking, insurance, and pensions, and its 100 employees cater to the needs of clients in more than 30 countries.
BearingPoint RegTech leader Lux noted, “Both Vizor and RegTech have over 20 years of history, are market leaders with our RegTech and SupTech solutions, and complement each other perfectly in terms of products, markets, and customers. As a combined company, we will develop a strategy for further, sustainable growth to fulfill our shared mission: to contribute to the transparency and stability of the financial markets with our solutions.”
New growth
With the newly formed partnership, RegTech and Vizor aim to accelerate their future growth journey. Already serving more than 7,000 firms and financial services providers with reporting solutions, their synergies will also enable more than 50 regulators and tax authorities to collect and analyse data from 34,000 firms in 60 countries.
As well as their complimentary portfolios, the pair also operate in territories that enable them both to reach new geographies by linking up. While RegTech’s customer base is largely in Germany, Austria and Switzerland, as well as a developing presence in the Benelux and Nordic regions, Ireland and the UK, Vizor’s customers are primarily based in Africa, Asia, Australia, Canada, and the Middle East.
Conor Crowley, CEO at Vizor Software, added, “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.”
