OpenRegTech aims to revolutionize regulatory reporting of Basel 3 regulations by separating the software language used to define regulatory calculation from the runtimes used to run programs in the language.
To this end OpenRegTech has designed a domain expert focused language for describing prudential regulatory calculations, and will make this free and open source in January 2019. The language is described here
Also in January 2019 OpenRegTech will release the OpenBasel3 initiative. The goal of this initiative is to produce a fully open source implementation of the Basel 3 prudential regulatory calculations (Market Risk, Credit Risk, Counterparty Risk and Liquidity Risk), tailored as appropriate to
each national regulator. Further details are described here
OpenRegTech will be providing a free IDE and runtime for the language, and encourages other parties to develop runtimes and IDEs for this free open standard also.