AxiomSL’s solution for the Standardized Approach for Measuring Counterparty Credit Risk Exposures (SA-CCR) includes the functionality and new calculations needed to compute exposure at default (EAD) and provides full support for impact analysis. AxiomSL’s ‘one platform’ model means the same system can be used for all other regulatory calculation and reporting requirements, including the other Basel capital calculations. This greatly reduces the cost and complexity of compliance. AxiomSL’s solution aggregates and normalizes all of the data required for SA-CCR from the disparate sources in which it is maintained. Data can be loaded on to the solution in any format without the need for data conversion. It is then used to run the add-on, PFE and RC calculations and to produce the EAD.
When the calculations have been completed, users can review the results, check whether they are as expected and do trend analysis. If necessary, they can adjust their input data. The calculation results can be used as inputs for other Basel capital calculations. When mandated in the European Union (EU), it will also be possible to automatically feed the SA-CCR results into Common Reporting (COREP) templates using the appropriate XBRL taxonomy.
AxiomSL’s solution provides full support for impact analysis, including the ability for banks to do parallel running of their incumbent calculations and the new SA-CCR calculations. This allows them to understand how they will be affected by SA-CCR and ensures they can migrate smoothly to the new calculations when SA-CCR comes into force. Due to its high-performance capabilities, AxiomSL’s solution can process large volumes of data rapidly. This will allow banks to execute their SA-CCR calculations each day to ensure they are within their capital limits and to circulate the relevant information to different internal groups. The solution offers unparalleled transparency. Users have the ability to drill down from their final SA-CCR figures to their source data and can see how the data has been transformed at each stage in the calculation process. This gives users confidence in the accuracy of the results and enables them to respond to queries from regulators.
AxiomSL continually monitors changes to the SA-CCR calculations and provides updates when they are amended. These regulatory update releases are separated from software releases, allowing firms to upgrade quickly without undertaking regression testing.
The SA-CCR solution is built on the same platform as all of AxiomSL’s other offerings. This gives banks a unique opportunity to reduce cost and complexity by using a single platform to meet all of their regulatory calculation and reporting requirements, including other Basel capital calculations such as the Fundamental Review of the Trading Book (FRTB) and Interest Rate Risk in the Banking Book (IRRBB).
- A single platform that can be used for all regulatory calculation and reporting requirements globally, including SA-CCR, the FRTB and IRRBB
- Full support for impact analysis, including parallel running of calculations
- Aggregation of disparate data
- The ability to load data in any format without conversion
- Automation of the entire calculation process
- Unrivalled transparency, including drilldown from outputs to source data
- Provision of mandatory calculations, including new add-on, PFE and RC calculations
- A high-performance calculation engine
- Add-on for interest rate derivatives
- Add-on for foreign exchange derivatives
- Add-on for credit derivatives
- Add-on for equity derivatives
- Add-on for commodity derivatives
- RC for margined trades
- RC for unmargined trades
- RC where a single margin agreement covers multiple netting sets
As part of what has been dubbed ‘Basel IV’, banks around the world will be required to use a new methodology to calculate their exposure to counterparty credit risk and the corresponding capital reserves needed to mitigate this risk. SA-CCR will be mandatory for all over-the-counter (OTC) derivatives, exchange-traded derivatives (ETDs) and long settlement transactions. It will replace the incumbent Current Exposure Method (CEM) and Standardized Method (SM), altering banks’ capital requirements.
In order to comply, banks will need a variety of complex calculations. These include new add-on, potential future exposure (PFE) and replacement cost (RC) calculations that are required to compute the EAD.
Banks will want to implement these calculations and run impact analysis exercises as soon as possible to understand how SA-CCR will affect their capital requirements. They will also need the ability to run the calculations on a regular (in many cases daily) basis to ensure they do not exceed the capital limits set by regulators.
SA-CCR Solution Diagram
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Credit Agricole and AxiomSL
Credit Agricole selects AxiomSL for Singapore MAS 610 and 649 reporting
“AxiomSL’s solution provides the data loading, aggregation and reporting functionalities needed to tackle the significant increase in data points required in the new MAS 610 in addition to satisfying the reporting requirements for MAS 649. A key deciding factor for us is its single data-agnostic platform that integrates raw data pulled from multiple sources. With AxiomSL’s regulatory data management solution, we are now able to extend the focus of our Finance team beyond regulatory compliance reporting to financial analysis. This provides value-added data analytics for management reporting that will enhance our business operations overall.”Jane XU, Credit Agricole CIB’s Singapore CFO
Trafigura PTE Ltd and AxiomSL
Trafigura PTE Ltd chooses AxiomSL as its global trade and transaction reporting provider
“We are extremely pleased to begin this relationship as the firm’s regulatory provider. As we continue to expand in to the energy and commodities sector, we look forward to developing a great connection with Trafigura. We are certain that AxiomSL’s data and process platform will give Trafigura the best means of ensuring that they meet all their global requirements in a timely and efficient manner”.Ed Royan, Chief Executive, EMEA, AxiomSL
Waters Magazine & AxiomSL
AxiomSL Takes Best Implementation Prize in 2017 Sell-Side Technology Awards for Second Year
“We are again honoured to receive this prestigious award for our work with this respected global custodian bank,” said AxiomSL CEO Alex Tsigutkin. “For several years, many of our largest banking clients have undertaken similar work to meet the extensive data management and reporting challenges posed by regulators around the world, but rarely on such a compressed timeline or covering this number of modules simultaneously. We are especially proud of the collaborative working relationship and rapid deployment of our solution that successfully delivered this implementation. AxiomSL’s unique expertise in this area, combined with our robust and integrated platform, empower the bank to achieve greater control, automation, data accuracy, and full transparency, while producing timely reports with the analytics required by regulators and internal management demands. AxiomSL’s platform for change management will continue to be the sell-side’s preferred choice when tackling enterprise-wide projects of this magnitude.” Alex Tsigutkin, Chief Executive Officer (CEO), AxiomSL
Jeffries and AxiomSL
Jefferies extends use of AxiomSL’s reporting platform for MiFID II transaction reporting
“We are proud that Jefferies has chosen our MiFID II transaction reporting solution,” said Ed Royan, Chief Executive, EMEA, AxiomSL. “Clients require a platform for handling multiple reporting requirements and the platform needs to be able to respond quickly to constant change. Jefferies have recognised that AxiomSL is the effective solution for many of its varied submission requirements.”Ed Royan, Chief Executive, EMEA, AxiomSL
Banco Sabadell and AxiomSL
AxiomSL’s Regulatory Reporting platform selected by Banco Sabadell for the second time
“We are very pleased to have been selected by Banco Sabadell. We have many years of experience in EBA reporting and are confident that we will continue to deliver excellent results on this project,” said Ed Royan, Chief Executive, EMEA, AxiomSL. “Ongoing changes to reporting requirements continue to create challenges for financial firms. The way in which we are able to separate our regulatory update releases from our software releases enables us to deliver new report templates quickly, making sure our clients remain compliant. We look forward to developing our relationship with Banco Sabadell over the coming years.” Ed Royan, Chief Executive, EMEA, AxiomSL
Credit Agricole CIB and AxiomSL
Credit Agricole Corporate and Investment Bank has selected AxiomSL for its FR 2052A and FBO reporting to the Federal Reserve
“Large foreign banking institutions are looking for enterprise-wide technology platforms that can be implemented quickly and grow with evolving regulatory requirements, such as reporting form 2052a," says Alex Tsigutkin, CEO at AxiomSL. "We are pleased to work with such a reputable firm as Credit Agricole CIB in delivering risk and regulatory reporting with workflow automation and audit functionality.” Alex Tsigutkin, Chief Executive Officer (CEO), AxiomSL
Fifth Third Bank and AxiomSL
Fifth Third Bank Chooses AxiomSL for its Strategic Regulatory Reporting
“Our decision to build a relationship with AxiomSL is due, in large part, to our interest in keeping pace with the complexity of today’s regulatory environment and in maintaining cost-effectiveness across all operations,” said Blane Scarberry, Vice President, Director of External Reporting at Fifth Third Bank. “AxiomSL’s integrated platform is expected to enable us to meet financial and regulatory requirements, while also streamlining our reporting processes across critical business functions. This should provide us with the flexibility to meet evolving regulatory demands.”Blane Scarberry, Vice President, Director of External Reporting at Fifth Third Bank
Raymond James & AxiomSL
Raymond James chooses AxiomSL’s Platform and Solutions to meet multiple regulatory Broker Dealer & BHC reporting requirements
“As part of our larger goal of data management transformation, Raymond James was looking for a strategic technology partner that could help with a significant portion of our critical reporting,” says David Lesser, senior vice president of technology at Raymond James. “AxiomSL’s expertise working with complex, diversified institutions and ability to implement these solutions over a number of years was exactly what we were looking for.”David Lesser, Senior Vice President of Technology at Raymond James
Chartis Research & AxiomSL
AxiomSL is recognized as 'Category Leader' in the 2016 Chartis FinTech Quadrant® for Data integrity & Control Solutions
“As institutions focus on enterprise data integrity and control to meet new standards like BCBS 239, it is critical to consider flexibility, adaptability, and scalability of their platforms very closely,” says Peyman Mestchian, Managing Partner at Chartis Research. “AxiomSL provides the functionality to scale and aggregate vast amount of data across silo systems for improved transparency and greater clarity about the organization’s financial status and risk exposures.”Peyman Mestchian, Managing Partner at Chartis Research
COMMERZBANK and AxiomSL
Commerzbank selects AxiomSL’s Strategic Platform for its SEC 15c3-1 and other Broker-Dealers Related Reporting
“We are delighted Commerzbank has selected AxiomSL’s technology,” said Alex Tsigutkin, AxiomSL CEO. “Institutions can optimize their existing IT infrastructure by implementing a flexible data-management architecture, with an analytical and reporting layer and aggregation capabilities, which will address multiple regulations on one integrated platform. In other words, firms should use an integrated platform to perform position and transaction reporting, for capital computation and liquidity measurements, as well TIC reports and other reporting with drill-down capabilities back to the original source data.” Alex Tsigutkin, Chief Executive Officer (CEO), AxiomSL
ICBC and AxiomSL
ICBC (London) plc chooses to extend AxiomSL deployment to support CRS reporting
“It is clear this is the time to adopt a strategic solution for CRS and FATCA. We have been very pleased with the results of using AxiomSL’s platform for the Basel, PRA, BOE and EMIR requirements, so the decision to also use it for CRS and FATCA came naturally. The scalability and flexibility of AxiomSL’s platform means we can contain the cost of regulatory compliance by using a single infrastructure to manage multiple requirements,” said Shuyi Yuan, Deputy CEO at ICBC (London) plc.”Shuyi Yuan, Deputy CEO at ICBC (London) plc
Oracle (OFSAA) & AxiomSL
AxiomSL was named in the 10 Fastest Growing Oracle Solution Providers in 2016 by the Silicon Review
“We maintain strategic development alliances with audit, financial and technology industry leaders, financial data providers, hardware, and analytical software providers to guarantee that our clients receive both the best breed and a flawless implementation of their IT and business requirements,” Alex Tsigutkin says. “We believe coupling a change management platform with client-focused strategies is the key to success.” Published in The Silicon Review
BMCE International & AxiomSL
BMCE Bank International goes live on AxiomSL’s regulatory platform
“We are pleased to be working with the recognized leader in the regulatory calculation and reporting space,” said Mohammed Afrine, Chief Executive Officer at BMCE International. “AxiomSL’s platform provides all of the functionality we require, from data aggregation and normalization to report creation and submission. The quick time to market offered by AxiomSL makes the platform very attractive.”Mohammed Afrine, Chief Executive Officer, BMCE International
“We have built up an unrivalled knowledge of regulatory calculation and reporting requirements over the years while supporting financial firms of all types and sizes. We are pleased to now also be working with BMCE Bank International and ensuring they have the optimal solution for all of their regulatory requirements,” said Ed Royan, Chief Operating Officer EMEA, AxiomSL. “It is clear that many firms are looking for new solutions to manage BOE and CRD IV regulations. We are looking forward to working with more clients on these topics in the coming months.”Ed Royan, Chief Operating Officer EMEA, AxiomSL
SAP & AxiomSL
SAP and AxiomSL partner to provide next generation financial risk and regulatory data management infrastructure
“We are pleased to be partnering with AxiomSL on this offering. As additional reporting requirements around the world come into force, it is essential that the overall operational cost burden to financial institutions is minimized. With this joint solution, users can continue to satisfy regulatory mandates such as BCBS 239, leveraging a single platform and proven regulatory reporting technology.”Patrice Vatin, Director, Digital Transformation & Industry Value Engineering, SAP Financial Services France
U.S. Bank & AxiomSL
U.S. Bank Chooses AxiomSL for its Regulatory Reporting Platform
“We are delighted to have been selected by U.S. Bank as their regulatory reporting solution provider,” said Alex Tsigutkin, Chief Executive Officer (CEO), AxiomSL. “Today’s systems must meet an ever-increasing set of granular, complex and evolving regulatory requirements while integrating large volumes of heterogeneous data across the enterprise. These requirements highlight the increased need for unified source data and data process automation, full transparency and data lineage, ensuring executives have the ability to make rapid and frequent changes to comply with these regulatory requirements and enhance information oversight.” Alex Tsigutkin, Chief Executive Officer (CEO), AxiomSL
Union Bank of India & AxiomSL
Union Bank of India (UK) Ltd chooses AxiomSL’s XBRL solution for regulatory reporting in the United Kingdom
“AxiomSL’s XBRL solution meets our needs exactly,” said Brajeshwar Sharma, CEO at Union Bank of India (UK). “The control and data validation functionality offered by AxiomSL gives us complete confidence in the accuracy of the data we will submit to the regulator. As the EBA continues to release new versions of its XBRL taxonomy, AxiomSL’s quick time to market was also compelling. We are looking forward to working with the leading XBRL specialists on our regulatory reporting.” Brajeshwar Sharma, CEO, Union Bank of India (UK)
Anadolubank & AxiomSL
Anadolubank Picks AxiomSL for Netherlands Reporting
“AxiomSL’s XBRL solution meets our needs exactly,” said Nuriye Plotkin, Managing Director, Anadolubank Nederland N.V. “The control and data validation functionality offered by AxiomSL gives us complete confidence in the accuracy of the data we will submit to the regulator. As the EBA continues to release new versions of its XBRL taxonomy, AxiomSL’s quick time to market was also compelling. We are looking forward to working with the leading XBRL specialists on our regulatory reporting.” Nuriye Plotkin, Managing Director, Anadolubank
ICBC & AxiomSL
ICBC (London) plc chooses to extend AxiomSL deployment to support CRS reporting
“It is clear this is the time to adopt a strategic solution for CRS and FATCA. We have been very pleased with the results of using AxiomSL’s platform for the Basel, PRA, BOE and EMIR requirements, so the decision to also use it for CRS and FATCA came naturally. The scalability and flexibility of AxiomSL’s platform means we can contain the cost of regulatory compliance by using a single infrastructure to manage multiple requirements,” said Shuyi Yuan, Deputy CEO at ICBC (London) plc. Shuyi Yuan, Deputy CEO, ICBC (London) plc.
Credit Suisse & AxiomSL
Credit Suisse & AxiomSL win Compliance Risk Technology Implementation of the Year Award 2016.
AxiomSL’s Asia-Pacific liquidity programme implemented across three countries in nine months enhanced time to market and operational efficiencies for the bank. AxiomSL’s single strategic platform allowed Credit Suisse scalability to meet multiple cross-jurisdictional regulatory reporting requirements with greater speed and accuracy whilst leveraging existing data architecture. AxiomSL’s technologies also delivered Liquidity Coverage Ratio forecasting capabilities providing treasury with improved internal liquidity monitoring and reporting efficiencies.AxiomSL Transparency through Technology
PNC & AxiomSL
PNC Selects AxiomSL for Regulatory Reporting
“We are proud to have been chosen by PNC, a leading and well-respected bank,” said Alex Tsigutkin, CEO at AxiomSL. “AxiomSL’s advanced offering will enable PNC to automate complex analytical and regulatory process, as well as full data and process governance. AxiomSL’s capability to drill down into the data makes it a powerful tool, which, paired with the flexibility of its risk calculation engine, enables financial firms to meet mandates across multiple regulators and jurisdictions. The inherent flexibility of the platform allows financial firms to keep pace with the regulatory changes while containing costs.” Alex Tsigutkin, AxiomSL’s CEO
Standard Chartered & AxiomSL
AxiomSL wins best implementation award for Standard Chartered regulatory reporting project
“The implementation of AxiomSL’s BOE reporting solution has been a resounding success, which is worthy of award recognition,” said Paul Chambers, Chief Financial Officer, Europe and UK, at Standard Chartered. “We have been very pleased with AxiomSL’s FINREP solution, so we were confident going into this project. However, the results have exceeded our expectations: not only did we go live ahead of schedule, we have also significantly reduced the time it takes to produce our BOE returns.” Paul Chambers, Chief Financial Officer, Europe and UK, Standard Chartered
Bank of China & AxiomSL
Bank of China’s Singapore Branch Appoints AxiomSL for Basel III Liquidity Risk Management and Reporting Solution in Singapore
“We chose AxiomSL because of its integrated Basel III liquidity calculation and regulatory reporting platform. We value their platform’s flexibility and ability to address our needs to set up a solid foundation that can integrate with BOC’s source data given the limited time frame. Allan Chin, AxiomSL’s Country Manager, together with his team have demonstrated how AxiomSL has infused their knowledge of MAS regulation into their proven MAS 649 reporting solution, and the ability to assist us to meet the MAS 649 reporting mandate. The implementation of AxiomSL’s solution exhibits Bank of China Singapore Branch’s determination to commit resources to strive towards further enhancement of our liquidity risk management processes to cope with our increased business presence in Singapore.Ng Woon Kong, Deputy Head of Financial Management Department, Bank of China Singapore Branch
Société Générale & AxiomSL
“AxiomSL is proud to be chosen as Société Générale’s strategic partner. As a world leading financial firm, being able to quickly meet new and evolving FBO’s requirements while aggregating data across several systems and business functions in a timely manner to meet multiple analytical and regulatory requirements is crucial for success” said Alex Tsigutkin, CEO AxiomSL. “The inherent flexibility and robustness of the AxiomSL platform will allow Société Générale to keep pace with the complexity of regulatory changes while containing costs and delivering the transparency and risk granularity demanded by regulators. We hope that the United States is just the beginning of a flourishing partnership as AxiomSL’s high-performance platform can deliver a suite of solutions across the bank’s operations globally - all on one integrated platform.” Alex Tsigutkin, AxiomSL’s CEO
Chartis & AxiomSL
AxiomSL Recognized as Category Leader in Chartis RiskTech Quadrant® for Sell-Side Risk Management Systems
“High performance in sell-side risk management is only possible when data is available, reliable and comprehensive, and AxiomSL’s advanced offerings enable users to achieve this level of success. Through its efficient integration of multiple data sources, AxiomSL’s solutions address a number of the key industry-wide challenges facing today’s financial institutions, including the need for automation of complex reporting business logic, data quality, governance and accountability within stringent timeframes.” Peyman Mestchian, Managing Partner
Julius Baer & AxiomSL
Julius Baer chooses AxiomSL for group-level and Swiss entity Basel III reporting and Swiss statistical reporting
“Group-level reporting involves significant data volumes and requires a solution with robust processing capabilities. We were impressed by AxiomSL’s high-performance platform, including the flexibility and transparency it offers users. The fact that all of AxiomSL’s solutions are fully supported and the fact that AxiomSL updates its reporting templates when regulations change will also greatly lower the cost and complexity of compliance.” Urs Monstein, Chief Information Officer
Morgan Stanley & AxiomSL
Best Reporting Initiative Award - American Financial Technology Awards
"After a thorough review of each firm’s submission for best reporting initiative, it was clear that AxiomSL’s platform provided Morgan Stanley with a strong solution to manage the complex and rigorous regulatory reporting demands that investment banks faced in 2014." Anthony Malakian, US Editor, Waters
Deutsche Bank & AxiomSL
Deutsche Bank Deploys AxiomSL’s Regulatory Reporting and Capital Calculations Platform
"We are proud to continue serving Deutsche Bank and expand our relationship in the United States. Our strategic, data-driven solution, combined with the automation of reporting business logic, leverages our clients’ existing data structure to meet the industry challenges for new business process models, transparency in reporting and the flexibility to adapt swiftly to regulatory mandates.” Alex Tsigutkin, AxiomSL’s CEO
ICBC & AxiomSL
ICBC (London) Plc. Selects AxiomSL to Deliver ESMA EMIR Transaction Reporting
“ICBC London’s partnership with AxiomSL underscores our commitment to delivering a simplified and standardized platform for all regulatory disclosures. We’ve selected AxiomSL’s platform for its integrated data management approach, providing greater reporting transparency and flexibility for our clients while streamlining operating costs.” Lingyan Kong, Deputy General Manager
Chartis, RiskTech100® Award & AxiomSL
Chartis Names AxiomSL Category Winner for Customer Satisfaction in RiskTech100® 2014 Rankings
“We are delighted to be selected as a top risk technology provider for the RiskTech100® and receive the highest rank in customer satisfaction. As the regulatory landscape continues to evolve, our dynamic, data-driven platform provides customers with the transparency and flexibility they require to manage risk and regulatory compliance across multiple jurisdictions.” Alex Tsigutkin, AxiomSL’s CEO
“AxiomSL received some of the best feedback scores in our end-user surveys and interviews. Many of AxiomSL’s customers commented positively regarding the ease and speed of implementation with a particular focus on data integration and out-of-the-box functionality.”Peyman Mestchian, Managing Partner at Chartis
Morgan Stanley & AxiomSL
Morgan Stanley Deploys AxiomSL ControllerView® Regulatory Platform in Korea
“We were impressed by the flexibility and power of the solution and the quality of professional services during the UK implementation. This along with increasing regulatory demands encouraged us in taking a strategic decision to proceed with AxiomSL, not only for all of our UK operations but moreover on a global scale with priority focus on Asia.” Aditya Gupta, Morgan Stanley’s Technology Executive Director
Waters Technology & AxiomSL
AxiomSL recognized as Best Reporting System Provider in 2015 Waters Rankings
“We are very pleased to have won this distinguished award because it was decided by business practitioners and technology professionals who are the focus of all of our work. Since being founded in 1991, AxiomSL has grown organically, concentrating on satisfying the evolving and most challenging demands from the industry across the globe. We pride ourselves on working in partnership with our clients. We believe our clients know best and our goal is to continue to deliver the best common data and computation platform which empowers financial firms to meet evolving regulatory mandates alongside global standards related to risk management and finance functions, data aggregation capabilities, data governance and internal control. Alex Tsigutkin, CEO of AxiomSL
JP Morgan & AxiomSL
AxiomSL Selected by JPMorgan Chase as Strategic Basel II Capital and Regulatory Reporting Platform
“We are proud to add JPMorgan Chase to the growing list of global financial groups making a strategic investment in the AxiomSL solution. It will enable them to integrate changing requirements over time in a controlled and flexible manner. The AxiomSL solution continues to add demonstrable value in being a strategic asset for the most complex and high volume environments.” Patrice Melloul, AxiomSL Europe’s Managing Director
ABN Amro & AxiomSL
ABN AMRO to Deploy AxiomSL’s ControllerView® for Regulatory Reporting and Data Management
"After a thorough system evaluation, including a quite persuasive proof-of-concept, we’ve opted for the Axiom solution as a strategic platform to automate our reporting process. ControllerView® provides us with the flexibility required to support changes of source systems and transparency to give a clear view of the calculations, processes and results to both users and regulators." Martin Minkenberg, ABN Amro’s Manager
RBC & AxiomSL
RBC Capital Markets Prime Broker And Risk Management Group To Deploy AxiomSL For Market And Credit Risk
“We’re delighted to add RBC Capital Markets as a valued client. Their decision signals a market trend to extend risk management from enterprise control functions to more actionable and transparent risk management measures that satisfy all business units’ requirements.” Alex Tsigutkin, AxiomSL’s CEO
Bancolombia & AxiomSL
Bancolombia Adds AxiomSL FATCA Solution to Reporting Platform
“So far so good,” said Jaime Alberto Villegas Gutierrez, Bancolombia's vice president of service delivery and customer experience. He said international banks must often rely on special digital platforms to assist with difficult implementation issue across jurisdictions and Bancolombia's solution has been provided by AxiomSL.”
“The biggest challenge has been preparing ourselves and our data to begin reporting,” Gutierrez said. “We have to do the same process for different regulators.” While that process is “cumbersome but doable,” he said, “as a bank, we're worried that FATCA will begin to happen in other countries.”Jaime Alberto Villegas Gutierrez, Vice President of Service Delivery and Customer Experience