Vermeg Sells RegTech Division "Agile" to Regnology, Strengthening Focus on Core Expertise
Vermeg, a leading provider of software solutions for the financial services industry, has announced the sale of its RegTech division "Agile" to Regnology, a globally recognized expert in regulatory compliance. This strategic transaction is part of Vermeg's long-term vision to reinforce its focus on its key areas of expertise: collateral management and insurance, while ensuring a promising future for the Agile team under Regnology's direction.
For decades, asset servicing has been a cornerstone of Vermeg's operations, with a comprehensive portfolio including securities lending (OST), collateral management, UCITS, and life insurance. These core offerings have solidified Vermeg's reputation as a trusted partner for financial institutions worldwide.
The acquisition of Lombard Risk in 2018 marked a pivotal moment in Vermeg's history, enabling the company to expand into Anglo-Saxon markets and position itself as a global leader in collateral management. This transformation was fueled by the complementarity of Vermeg and Lombard Risk's product portfolios, supported by the expertise center established in Tunisia, which continues to play a crucial role in Vermeg's success.
Agile, Vermeg's RegTech division, represented a distinct and specialized segment of the company, accounting for around 10% of its workforce. Over the years, Agile evolved into a premier, modular, and evolving SaaS platform, offering comprehensive regulatory reporting solutions, from data ingestion to final submission. Positioned as a high-performing entity in a complex regulatory environment, Agile gained industry recognition for its innovation and capabilities.
With this transaction, Agile will join Regnology, a globally recognized leader in regulatory reporting and compliance. This acquisition enables Regnology to expand its international footprint and capitalize on the talents developed within the expertise center in Tunisia. This strategic partnership ensures service continuity while opening up new perspectives for Agile and its team.
For Vermeg, this transaction represents a significant step in its strategy to concentrate on its core strengths. By consolidating its leadership in collateral management and insurance, Vermeg will mobilize resources to pursue growth and offer even more value to its clients. This strategic orientation underscores Vermeg's commitment to innovation and excellence in financial technology.
"This transaction is part of Vermeg's strategy to ensure long-term sustainability and success, both for the company and its employees," said Badreddine Ouali, co-CEO and founder. "By partnering with Regnology, we are confident in the prospects for continued growth and opportunities offered to the Agile team within a global platform, thanks to a shared commitment to innovation and excellence in solutions. Meanwhile, Vermeg will be able to focus on its strategic initiatives in its key divisions: Banks & Markets Infrastructure and Insurance, mobilizing additional resources to offer even more value to our clients."
