Invoke, a European leader in financial, regulatory and tax reporting software, announces the establishment of its fully-owned Portuguese subsidiary, thus expanding its European footprint to the Iberian Banking and Insurance markets.
The Portuguese entity is the 3rd subsidiary established by Invoke in Europe, after the company set up subsidiaries in Luxembourg in 2011, and London in 2014. Invoke’s Lisbon-based office will support its global expansion, thus allowing the company to provide first class services to their clients in Iberia.
The Invoke group has sustained a two-digit revenue growth rate for fifteen consecutive years, recording an average growth rate of 20% over the past five years. The company owes it sustainable dynamism in no small part to the development of its international activities, especially in Europe, exporting its next-generation, cutting-edge technology and second-to- none subject-matter expertise in financial, regulatory and tax reporting.
The company accelerated its European influence in recent years, with a focus on Banking and Insurance verticals, addressing a wide range of regulatory challenges, both in the face of pan-european and national-specific requirements.
Operational since last September, Invoke’s Portuguese subsidiary founding team consists of experienced local managers and bi-cultural profiles who work in close relationship with French headquarter teams. They will focus on finding new business for Invoke’s regulatory reporting solutions in the Financial industry, both in Portugal and Spain.
Today, Invoke’s client base already counts a number of Portuguese undertakings, among which three big name companies out of the Portuguese Insurance Top20, and OREY Financial in the banking industry.
« We set up the Iberian entity in order to be in a position to better address the needs of our local clients, and provide them with the very same level of service and support that made the success of our clients’ projects in France, Luxembourg and the United Kingdom », comments Antoine Bourdais, Director of the Banking and Insurance division at Invoke.
Invoke provides solutions to over 650 insurance entities for Solvency II Pillar 3 reporting, thus surpassing 20% market share of the European insurance industry. The company is also very active in the banking sector, helping over 350 regulated institutions meet European and local requirements set by the EBA and national supervisory authorities.
Invoke regulatory reporting solutions have already been successfully implemented in no less than 28 countries wordwide.
Insurance ERM Awards have nominated Invoke both for “Best regulatory reporting software” and “Best data solution” (winners to be announced in Dec. 2016). Insurance Risk awarded Invoke solutions as “Best Regulatory Reporting Software” in 2014.
With offices in Paris, London, Luxembourg, Lisbon and Stockholm, Invoke provides financial, regulatory and tax reporting solutions. It is a regulatory technology partner of choice to supervisory bodies worldwide (European Banking Authority (EBA), ACPR-Banque de France, Deutsche Bundesbank, ...), as well as to firms in the financial services sector who fall under the scope of complex regulatory imperatives such as CRD IV and Solvency II.
Incorporating next-generation XBRL technology, advanced data-governance, collaborative workflow and disclosure management features, Invoke software solutions associate a decade of technical expertise with extensive domain knowledge.