Vermeg

VERMEG is an international software group operating across several lines of B2B services: pensions & insurance, wealth & asset management, financial & security markets and Digital Financial Services.[1] The company develops software used across the private banking sector, consumer finance, asset management companies, Central banks, insurance and other financial services providers[2] covering insurance policy administration, asset portfolio management, regulatory reporting, collateral management, post-trade processing, low code application development, business process management and risk management.[3]

VERMEG
TypePrivate Company
Industry
Founded1993
HeadquartersAmsterdam, Netherlands
ProductsCOLLINE, AGILE Reporter, MEGARA, SOLIFE, MASSAI, SOLIAM and Palmyra

The company was formed in 1993 by Badreddine Ouali and has headquarters in Amsterdam.[4]

History

VERMEG was founded in 1993 in Tunisia, initially under the name of BFI and was spun off from BFI in 2002.[5][6] Its headquarters are now in Amsterdam and it has offices globally, including North America, Latin America, France, Belgium, Luxembourg, UK, Singapore and Tunisia.[4][7]

In 2017, Crédit Mutuel Arkéa acquired 19.5% stake in VERMEG.[8]

Acquisition

VERMEG has expanded both organically and via strategic acquisitions over the years:

  • In 2011, the firm acquired the regulatory reporting business of Sofgen. The main part of the business acquired, which in the past was known in the US regulatory market as IDOM USA, is the United States and Canada regulatory reporting product REG-Reporter[9]
  • In 2014, VERMEG acquired the Belgium-based firm BSB, which specialized in financial software for insurance and private banking.[10]
  • In 2018, the firm acquired Lombard Risk,[11] an international provider of software for risk management, regulatory reporting and collateral management[12]

Products

VERMEG provides across several financial sectors including asset management, Central banking, retail banking, consumer finance, investment banking, regulatory reporting, pensions and insurance with over 400 clients worldwide including some of the world's largest financial institutions.[1]

Among VERMEGs Solutions are:[3]

  • MEGARA:[13] Asset Management Solution covering Settlement, Fund Administration, Corporate Actions and Collateral Management for Central Banks.
  • COLLINE:[13] Collateral management Solution for Investment Banking.
  • AGILE Reporter:[3] Regulatory Reporting Solution.
  • SOLIFE:[14] Life insurance Policy Contract Management Administration System
  • SOLIAM: Wealth Management and Private Banking Portfolio Administration System.
  • MASSAI:[15] "Non-Life" Insurance Solution containing the following modules: product, policy, claim and accounting.

VERMEG also offers a low code application development platforms:

  • Veggo : Open Architecture Low Code Application Development platform and Components Marketplace [16]
  • Magikforms  : No code, drag and drop form builder for insurance and banking.

Awards and certifications

Awards
  • AGILE Reporter: Best Regulation Reporting Solution for 2018.[17]
  • Central Banking Awards: Risk Management Technology Provider of the Year 2019.[13]
  • Grant Thornton: Best Regulatory Reporting Management Solution 2019.[18]
  • Custody Risk Global Awards: Collateral Platform Provider of the year 2017.[19]
  • Operational Risk & Regulation Awards: Best Regulatory Reporting Platform/Service 2015.[20]

Certifications

References
  1. GmbH, finanzen net. "VERMEG Extends Partnership With Santander as the Global Bank Selects MEGARA as Its Post-trade Processing System in Brazil | Markets Insider". markets.businessinsider.com. Retrieved 28 September 2020.
  2. "Vermeg, the leading Software & Digital Company for Insurance & Finance, is positioned again in the Leaders Quadrant in Gartner's 'Magic Quadrant for Life Insurance Policy Administration Systems, Europe'". bobsguide. Retrieved 28 September 2020.
  3. "Lombard Risk is renamed under VERMEG brand, creating a new leader in Software Solutions for Financial Services". Derivsource. 27 September 2018. Retrieved 28 September 2020.
  4. "Vermeg Group – MarketsWiki, A Commonwealth of Market Knowledge". www.marketswiki.com. Retrieved 28 September 2020.
  5. February 2018, 23rd (23 February 2018). "Vermeg buys regtech firm Lombard Risk for £52m". FinTech Futures. Retrieved 28 September 2020.
  6. "VERMEG – TUNISIA | Best Places To Work Program". bestplacestoworkfor.org. Retrieved 28 September 2020.
  7. "VERMEG INTERNATIONAL SINGAPORE PTE. LIMITED". Singapore Business Directory. Retrieved 28 September 2020.
  8. "Crédit Mutuel Arkéa acquires 19.5% stake in Vermeg". Finextra Research. 20 January 2017. Retrieved 28 September 2020.
  9. "Lombard Risk buys regulatory reporting business of SOFGEN Holdings". NS Banking. 20 December 2011. Retrieved 19 October 2020.
  10. "Surviving the Ben Ali regime: a Tunisian entrepreneur success story". Wamda. Retrieved 28 September 2020.
  11. "Lombard Risk agrees to VERMEG takeover offer". Finextra Research. 11 January 2018. Retrieved 28 September 2020.
  12. "Vermeg completes acquisition of Lombard Risk". finextra.com. 26 February 2018. Retrieved 16 September 2020.
  13. "Risk management technology: Vermeg". Central Banking. 28 January 2019. Retrieved 28 September 2020.
  14. "Solife | VERMEG | Celent". www.celent.com. Retrieved 28 September 2020.
  15. "Vermeg: Massai for Property & Casualty Insurance". bobsguide. Retrieved 28 September 2020.
  16. "Veggo – Your leading-edge platform to build digital solutions for financial services : fast, agile, legacy-free". veggoplatform.com. Retrieved 7 February 2023.
  17. "Best regulation reporting solution". Retrieved 28 September 2020.
  18. "Insurtech". Financial IT. Retrieved 28 September 2020.
  19. "Custody Risk Global Awards 2017 winners announced". Risk.net. 9 November 2017. Retrieved 28 September 2020.
  20. "Operational and Regulation Awards 2015" (PDF). Retrieved 28 September 2020.
  21. "Vermeg Achieves ISO Certification for Management and Security of Information – Global Custodian – The Leading quarterly magazine covering the international securities services industry". www.globalcustodian.com. Retrieved 28 September 2020.
  22. "VERMEG | UN Global Compact". www.unglobalcompact.org. Retrieved 28 September 2020.
  23. GmbH, finanzen net. "VERMEG Earns Top Marks in 2019 Corporate Equality Index | Markets Insider". markets.businessinsider.com. Retrieved 28 September 2020.
  24. "Vermeg International Singapore Pte Ltd – SG FinTech Directory". Retrieved 28 September 2020.


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