Major
US Bank Holding Company Goes Live with AxiomSL Basel123™
Solution
New York,
Monday, November 7, 2011 - Axiom Software
Laboratories Inc.(AxiomSL), a leading global provider of regulatory reporting
and risk management solutions, announced today that as leading US global financial services firm has
gone live with AxiomSL’ Basel123™ Capital Adequacy module, integrated with its ControllerView®
regulatory reporting platform. Basel123 is being used to provide Basel 2
calculations within an automated end to end process to electronically file their
FFIEC-101 report with the US regulators.
After deploying successfully
Axiom’s ControllerView® platform for its regulatory reporting needs, the Firm started
implementation of the Basel123™ module earlier this year to calculate
regulatory capital requirements as mandated by the US regulators in compliance
with Basel 2 rules. Basel123™ implementation provided swift time to market as
it was completed from start of design specs to final electronic submissions of
results to regulators under 7 months. Axiom’s platform is now processing large
number of data
sources allowing for the creation of logical data models specific to all
aspects of the Basel 2 capital calculation process. Axiom provides complete
transparency of calculation, category logic on source data and
drill-down/drill-up functionality.
With Axiom’s Basel123™
and ControllerView®, the Company is now equipped with an agile enterprise-wide
solution providing a comprehensive, single point of process validation for all of
Basel 2 data and calculation criteria, formulas and results.
“We are proud to have delivered Axiom’s solutions to such a respected financial institution” , said AxiomSL’s
CEO Alex Tsigutkin.
“This project illustrates
how AxiomSL can work successfully with top financial institutions that are increasingly
looking for strategic solutions to achieve complete transparency in their
required reporting to regulatory authorities, as well as within their own organizations”.
About
Axiom Software Laboratories, Inc.
Since 1989, Axiom Software Laboratories has become a leader in delivering software solutions for enterprise data and risk management, financial control, compliance monitoring and reporting.
Axiom's proven solutions continue to meet the challenges of adopting advances in technology, while adapting to dynamic change in markets and clients' data environments for mission-critical enterprise activities. Axiom's people are skilled professionals and experts in a range of key
disciplines, including risk management, database and middleware technology, financial applications, Internet technology and financial engineering. The company serves financial institutions, corporations, asset managers and energy companies either through its software licensing and support or through its outsourcing services ASP.
aurelia@axiomsl.com dattenborough@axiomsl.com
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