Fribourg, November 4th, 2013: beqom announced today that more and more of Europe’s top banks have selected beqom to manage their complex bonus deferral processes.
Three of the leading European banks have recently selected beqom to manage their bonus and deferral processes. Financial services companies are looking at deferred compensation, such as deferral of bonuses and long-term incentives, to reduce risk and comply with new compensation regulations set by the European Banking Authority, European Commission (CRD III and CRD IV) and the Financial Stability Board.
Having software to support these evolving regulations is a key requirement for our financial customers, knowing most compensation systems were not designed to handle; complex and diverse compensation schemes, full traceability of all changes to meet audit requirements, providing detailed reports with accrual and payment details, simulation of deferral costs and quick and easy to change Compensation plans that stay aligned with evolving regulations.
beqom handles the level of sophistication required to manage compensation in financial institutions. beqom is designed to address these challenges faced by financial institutions worldwide, while providing incentive compensation that is effective and can be quickly adapted to rapidly changing market requirements.
beqom’s Total Compensation solution covers any area of compensation: sales incentives, bonus, equity, merit pay and channel partner incentives, in one application.