18 Feb Attenborough's World – David Attenborough, AxiomSL EMEA
AxiomSL, a global provider of regulatory reporting and risk management solutions, today announced that ICBC (London) Plc (formerly known as Industrial and Commercial Bank of China) has selected AxiomSL for its European Market Infrastructure Regulation (EMIR) over-the-counter (OTC) transaction reporting. The company says that ICBC London will leverage AxiomSL’s ControllerView to deliver all European Securities and Markets Authority (ESMA) EMIR Transaction reporting on a single integrated platform.
Following the successful implementation of IntegrationCenter™ for dynamic data management and Basel123™ for capital calculations, ICBC London extended its partnership with AxiomSL.
The data-driven management and integrated regulatory reporting platform will, says Axiom, enable ICBC London to meet complex bank requirements with greater speed, transparency, accuracy and level of detail.
AxiomSL adds that its unique framework, which provides flexibility and scalability in merging ICBC London’s models, delivers data transformation, calculation and reporting processes transparency to satisfy incumbent regulations including EMIR, Basel III and Capital Requirements Directive (CRD) IV regulatory reporting.
By leveraging the comprehensive solution, ICBC London will benefit from an integrated approach, ensuring fast delivery, maximum data integration and reconciliation while minimizing infrastructure and implementation costs.
“ICBC London’s partnership with AxiomSL underscores our commitment to delivering a simplified and standardized platform for all regulatory disclosures,” said Lingyan Kong, Deputy General Manager of ICBC London. “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.”
“Global banks such as ICBC London must adapt to a wide range of new regulations and data quality processes to tackle the effects of inaccurate reporting and reduce spending on reconciliation process,” says David Attenborough, head of EMEA sales, AxiomSL. “AxiomSL’s strategic data-driven platform empowers firms such as ICBC with a sound regulatory reporting infrastructure designed to address complex UK regulatory requirements and is flexible to adjust as these mandates continue to evolve.”
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About ICBC (London) Plc.
ICBC (London) Plc. formerly known as Industrial and Commercial Bank of China was established on 1 January 1984. On 28 October 2005, the Bank was wholly restructured to a joint-stock limited company. On 27 October 2006, the Bank was successfully listed on both SSE and SEHK. At the close of 2011 through its continuous endeavor and stable development, ICBC has topped the world ranking as the largest listed bank in terms of market capitalization; customer deposits and profitability; possessing an excellent customer base; a diversified business structure; strong innovation capabilities and market competitiveness. The group provides comprehensive financial products and services to 4.11 million corporate banking customers and 282 million personal banking customers by virtue of the distribution network consisting of 16,648 domestic institutions, 239 overseas institutions and over 1,669 correspondent banks worldwide. Through its E-banking network facilities, ICBC has developed its internationalized trans-market operating structure; offering not only the first choice banking brand for Chinese customers but also as the most trusted financial brand globally. ICBC has maintained long-term investment grade credit ratings of “A1” by Moody’s; “A” by Standard & Poor’s; “A” by Fitch while the outlook on all ratings is stable. ICBC is also continually committed to supporting economic and social development; protecting environment and resources. ICBC always hold a great belief of its future as a global leading brand offering the best profitability, performance, prestige and at the same time reliability. (www.icbc-ltd.com).
AxiomSL is the global leader in regulatory reporting and risk management solutions for the financial services industry. Established more than 20 years ago, AxiomSL empowers financial institutions to meet regulatory reporting and risk requirements across multiple regulators and jurisdictions. Via the strategic data-driven platform, firms can meet demands from various regulations, including Basel III, FINREP/COREP, Dodd-Frank, CCAR, AIFMD, EMIR, FATCA and Solvency II, as well as liquidity, market and credit risk management requirements.
Leading financial firms use AxiomSL’s data management, regulatory reporting and risk management solutions to administer all internal data procedures, simplify, standardize and automate processes, and improve data integrity to successfully enhance decision making. The AxiomSL platform integrates clients’ source data from disparate systems and locations, without any data conversion, in a cost-effective manner, providing flexibility, transparency, traceability and the ability to drill down into data sources. It also delivers analytical applications in the areas of data integration and warehousing, financial risk management, regulatory reporting, compliance and financial control. This solution enables financial institutions to have full control over every step of the process and can adapt quickly to evolving regulations.
AxiomSL’s suite delivers a fully integrated solution from data sourcing to final reports including XBRL submission. www.axiomsl.com