An American global systematically important bank (G-SIB) has tapped AxiomSL’s strategic regulatory platform.
AxiomSL, a provider of regulatory reporting and risk management solutions, said the G-SIB has gone live with its platform to deliver a ten-country roll-out of local Common Reporting Framework (COREP), Financial Reporting Framework (FINREP), local central bank and AnaCredit reporting.
The rollout started with capital calculations and COREP and focused on the bank’s subsidiaries in the UK and Ireland. This was followed by FINREP and local central bank reporting in the UK and Ireland as well as their branch in the Netherlands and was also delivered on schedule. AnaCredit was added to the project after it started, and included their German branch. It now plans to roll out local reporting in further six countries.
Abhishek Awasthi, product manager, AxiomSL EMEA said: “In a constantly-evolving regulatory environment, global banks are seeing a greater need for integrated solutions to tackle the complex compliance demands.
“AxiomSL’s robust multijurisdictional strategic platform addresses regulatory requirements on a local, regional and global level. We are proud to empower our clients to successfully go-live in a timely, efficient and cost-effective manner, yielding tremendous resource savings that can be allocated to core business activities.”
AxiomSL provides solutions to banks, broker dealers, asset managers and insurance companies, with its enterprise data management (EDM) platform delivering data lineage, risk aggregation, analytics, workflow automation, validation and audit functionality.
It supports compliance with a wide range of global and local regulations, including Basel III capital and liquidity requirements, the Dodd-Frank Act, AnaCredit, FATCA, AEI (CRS), EMIR, COREP/FINREP, CCAR, FDSF, BCBS 239, Solvency II, AIFMD, IFRS 9, MAS, ASIC, REMIT, MiFID II, SFTR, central bank disclosures, and both market and credit risk management requirements.
AxiomSL aims to enable clients to leverage their existing data and risk management infrastructure, and reduces implementation costs, time to market and complexity.
Earlier this year AxiomSL formed a strategic partnership with Genpact to launch an IFRS 9 solution. Genpact, a global professional services firm that delivers digital transformation for clients, and the RegTech said they will automate and execute bespoke models for IFRS 9. The solution industrialises the rating model process and combines all the building blocks and calculation flows for IFRS 9 as an end-to-end process.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
