Software and regulatory reporting solutions provider Regnology has acquired Metadata Technology to enhance its technology offering.
Regnology says the acquisition marks a step forward in its ambition to serve the community of regulators and regulated financial institutions.
Regnology adds that it aims to serve organisations by providing solutions designed to address “the data conundrum” and regulatory complexity with streamlined workflows and increased efficiency.
As part of the acquisition, Regnology will take over UK-based firm Metadata, which provides Statistical Data and Metadata eXchange (SDMX) solutions for central banks and national statistics authorities.
SDMX is an ISO standard designed to describe statistical data and metadata while improving sharing across statistical organisations and institutions.
Metadata’s software solutions are built on open-source technology, in particular, the Fusion Metadata Registry (FMR), which currently empowers more than 450 statistical agencies globally with structural SDMX metadata registries.
Commenting on the acquisition, chief revenue officer at Regnology Maciej Piechocki says: “The team at Metadata has built a stand-out technology trusted by central banks and statistical agencies across the globe.
“We are committed to pursuing the effort to foster widespread SDMX adoption to alleviate the strain of reporting and further increase statistical processing efficiency. Through the deal, we are pleased to be able to bring an enhanced offering to our existing community of regulators and authority bodies.”
Chris Nelson, CEO of Metadata and founder of the SDMX protocol, adds: “Looking back to 2005, the ambition behind the introduction of SDMX was to reduce the cost and time-to-market of statistical data and metadata.
“Fast-forward to today, we help empower a vibrant and ever-growing global SDMX community with better-quality statistics. We are confident this acquisition will pave the way for more benefits in the future."
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