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AxiomSL: A Single Strategic Platform to Tackle Global Regulatory Demands
“Over the past 26 years, AxiomSL’s database-agnostic platform has been helping financial institutions gather data across multiple entities before applying complex aggregation, calculation, and enrichment processes to ensure that firms meet their multi-jurisdictional regulatory reporting needs,” says Peter Tierney, AxiomSL’s CEO for the APAC region.
AxiomSL’s strategic enterprise data management platform helps clients effectively address today’s regulatory compliance requirements, while laying a strong foundation for navigating tomorrow’s evolving regulatory landscape
AxiomSL’s strategic enterprise data management platform helps firms effectively address today’s regulatory compliance requirements, while laying a strong foundation for navigating tomorrow’s evolving regulatory landscape. The platform delivers data lineage, risk aggregation, workflow automation, validation and audit functionality, whilst supporting disclosures in multiple formats including XBRL. Being database agnostic, it is able to pull data directly from siloed systems, enrich and validate it at any level of granularity before applying the relevant business rules and calculations required to populate the end report. AxiomSL’s enterprise data management system enables firms to leverage their existing data and risk management infrastructure. This reduces implementation costs and complexity, thereby allowing firms to achieve their regulatory compliance goals in a much shorter timeframe.
AxiomSL’s forward-looking solutions have been employed by major financial institutions across the world. An example is the APAC headquarters of a leading French multinational bank which had selected AxiomSL for its robust data management platform in order to tackle regulatory reporting needs in Singapore and Hong Kong. The data agnostic platform and “no black box” concepts offer the bank the flexibility and transparency they were looking for. AxiomSL’s solution not only reduced the banks’ compliance burden, it allowed the bank’s finance team to shift its focus from compliance reporting to financial and business analysis thus creating greater value for the bank as a whole. The bank’s finance IT team is now able to better manage, maintain, adapt, and adjust to the changes happening within their bank.
To address constantly evolving regulatory mandates such as Australia APRA’s EFS & Singapore MAS 610/1003, Basel III & IV, MiFID II, FRTB or CRS/FATCA just to name a few, financial institutions should take a holistic approach towards regulatory compliance reporting. It is important to look for a strategic technology solution that can be deployed on a centralized basis with the flexibility and ability to handle requirements across multiple jurisdictions, entities, and business units. This will not only help firms navigate the compliance journey effectively and efficiently, it will ultimately generate efficiency gains for financial institutions in the long run.
VP Bank Selects AxiomSL to Meet Multi-Jurisdictional Risk and Regulatory Reporting Requirements
AxiomSL further strengthens its presence in Switzerland, Germany and Liechtenstein in collaboration with Confinale