Regnology, a regulatory reporting solutions provider, has announced the acquisition of regulatory technology firm b.fine for an undisclosed amount.

The acquired firm, which is based in Belgium, is engaged in enhancing financial institutions’ reporting supply chain.

According to Regnology, b.fine’s cloud technology will improve both its last-mile reporting capacities and its capacity to cater to a larger pan-European market.

Founded in 2017, the Belgian firm employs some 50 people who cater to 30 clients operating across the banking, insurance and investment sectors.

b.fine offers a comprehensive solution to financial institutions to help them manage their regulatory reporting processes.

The platform provided by b.fine digitises and automates the reporting team’s workflow, enabling better control over the reporting process.

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Regnology CEO Rob Mackay said: “b.fine has a fantastic track record of growth, and in delivering quality solutions to clients. Right from the start, we were impressed by what the company has achieved in such a short space of time.

“We were attracted by the strong synergies between our offerings and are excited to pursue our combined ambition to address the evolution of regulatory reporting through the provision of an innovative product and service offering.”

b.fine CFO Bert De Vriendt said: “By joining forces with Regnology, we believe we can allow for better integration between SupTech and RegTech, and utilise its strong connections to deliver greater automatisation and standardisation practices to new clients across Europe and beyond.”