AxiomSL & AWS Partnering on RegCloud™
In 2018, anticipating regulated financial institutions’ (FIs’) ever-increasing interest in benefitting from the cloud, AxiomSL worked in partnership with AWS to create AxiomSL’s RegCloud. The RegCloud offering provides a set of cloud-native technical and operational capabilities that enable FIs to securely harness the power of the cloud for their risk and regulatory data-management and reporting initiatives running on ControllerView®, AxiomSL’s data integrity and control platform.
Relieved of the burden of owning and operating complex hardware and software infrastructures, firms utilizing RegCloud discover that they can focus on their core business and become more agile and innovative. And RegCloud enables FIs to extend collaboration on regulatory initiatives enterprise-wide by effectively eliminating location and time-zone barriers to productivity in a highly controlled environment.
AxiomSL’s RegCloud Framework
At RegCloud’s core is AxiomSL’s ControllerView regulatory data-management platform that has been enhanced for the cloud and architected to take advantage of AWS’ sophisticated security, scalability, and automation features. As depicted in the diagram, one of the key elements of the framework is that – in contrast to typical multi-tenanted models – AxiomSL deploys the RegCloud based on a secure virtual private cloud (VPC) for each FI, eliminating the inherent risk of multi-tenancy.
AWS’ broad and powerful capabilities allow RegCloud to innovate using the latest technologies to optimize system performance and deliver an ideal end-user experience. Its state-of-the-art DevSecOps processes eliminate human interaction with customer data by enabling tight integration between security, development, and operations throughout the build-support-change lifecycle. Sophisticated tools and techniques leverage infrastructure as code (IaC) to deliver automation from the initial provisioning of the environment through its ongoing upgrades.
In conformance with industry-standard operations and technology risk-management best-practices, RegCloud’s framework also incorporates AxiomSL’s separate cloud-operations team of regulatory and cloud-specific technical subject-matter experts. This segregated, dedicated team manages the technology and technical operation of the regulatory data-management process, adhering to all relevant security standards and regulatory guidelines. Thus, FIs can focus on the process, data integrity, and controls associated with their regulatory commitments, while benefitting from RegCloud’s security, scalability, efficiency, and innovation.
An Experienced AWS Partner, AxiomSL Maximizes Cloud Benefits for FIs Globally
AxiomSL’s success as an AWS partner is evidenced by:
- Security certifications
- Industry recognition
- Client outcomes
As part of its comprehensive approach to ensuring the security of FIs’ sensitive, material non-public information (MNPI) on the cloud, in 2019 AxiomSL’s RegCloud achieved ISO 27001 and 27017 certifications and the SOC 2 Type II attestation. These important security designations were achievable through RegCloud’s leveraging of AWS’ strong security foundations.
A part of its Awards for Excellence 2019, Regulation Asia recently recognized the value of RegCloud, conferring on AxiomSL its “Regtech Award for Cloud Innovation”. Clients in the region are deploying AxiomSL’s platform and solutions on its well-architected cloud offering, to meet regulatory requirements including Global Shareholding Disclosures, MAS 610, HKMA, APRA-EFS.
With RegCloud, Clients Experience Key Outcomes:
- Optimized application reliability and performance
- Continuous alignment with regulatory requirements
- Best practice security and maintenance
- Quicker time-to-value for the initial deployment as well as ongoing updates
- Continual cost optimization
Global Shareholding Disclosures (GSD) – A Solution Case in Point
Complying with GSD rules is a data-intensive, jurisdictionally nuanced, and complex challenge. Using a RegCloud deployment to meet GSD requirements globally is a perfect example of how clients benefit from going to the cloud with AWS/AxiomSL. With GSD on RegCloud clients no longer must:
- Monitor regulatory requirements across many jurisdictions ― AxiomSL does that continuously.
- Evaluate and execute an array of constantly changing regulatory-rule updates into cumbersome, costly on-premises systems ― AxiomSL seamlessly provides the correct regulatory updates to the RegCloud deployment.
Liberated of the onerous task of global rules monitoring, interpretation, and system updates, the FI can comply with these onerous and constantly changing regulatory requirements with assurance and efficiency.
Why Amazon Web Services?
From capital markets and insurance, to global investment banks, payments, and emerging fintech startups, AWS helps customers innovate, modernize, and transform. AWS provides a platform that AxiomSL’s RegCloud expertly leverages on behalf of its clients to:
- Innovate faster
- Scale and automate
- Strengthen security
- Drive efficiencies in a controlled environment
- Reduce TCO
- Deliver a richer experience for end users
Beyond the core cloud technology, AWS acts as a true partner, offering AxiomSL support and guidance on its cloud journey, and enabling mutual success.
Want to Know More?
DOWNLOAD: RegCloud Brochure