19 May AxiomSL Named Best Risk Calculation Engine for Regulatory Compliance at RegTech Insight Awards Europe
Survey of 30,000 Senior Tech Officers and Data Specialists Recognizes AxiomSL’s Multi-Jurisdictional Risk Calculation Engine for its Robust, Transparent Approach to Meeting Global Basel Requirements
NEW YORK, LONDON, 19 MAY 2021: AxiomSL, the industry’s leading provider of risk and regulatory reporting solutions, today announced that it was named Best Risk Calculation Engine for Regulatory Compliance at the RegTech Insight Awards Europe 2021. The annual awards program, hosted by the A-Team Group, recognizes RegTech solutions that have successfully improved firms’ ability to effectively respond to the evolving and ever more complex regulatory requirements across the global financial services industry. Winners are selected based on a survey of 30,000 senior technology officers and data specialists at the Europe’s leading financial institutions.
AxiomSL’s risk calculation engine is used by the majority of the world’s Global Systemically Important Banks (G-SIBs) and leading regional banks to manage a wide range of global regulatory risk requirements, including the standardized approach for counterparty credit risk (SA-CCR), International Financial Reporting Standard 9 (IFRS 9) and fundamental review of the trading book (FRTB) rules developed by the Basel Committee on Banking Supervision (BCBS).
Recognized for the depth, breadth and flexibility of its solutions, AxiomSL won praise from users throughout the industry for the seamless and flexible manner in which it allows financial institutions to integrate robust, auditable risk analytics into their existing workflows. Unlike providers of standalone, black box credit risk solutions, AxiomSL embeds its risk calculation engine in its ControllerView® data integrity and control platform. Supporting both embedded risk modelling directly within the platform and ingestion of external model results, ControllerView makes it easy for institutions to add source data, enrich that data to Basel-driven requirements, and perform regulatory calculations, reporting, and submission on a single platform. This approach allows users to address multi-jurisdictional regulatory reporting requirements with a consistent, fully transparent process that explains not only changes in risk exposure, but also helps them immediately identify what caused those changes.
“Our primary focus at AxiomSL is user empowerment. We spend a great deal of time working closely with our clients to give them the tools they need to quickly and accurately access the data points they need to fully understand their risks, so it is enormously gratifying to see those efforts recognized in an award that is voted on by industry professionals,” said Richard Moss, Head of Global Risk Solutions, AxiomSL. “Our solutions are about much more than just calculating and reporting risk. By combining industry leading data management capabilities, robust business rules and calculation engines, we are able to provide a fully integrated, end-to-end solution that is truly unique in the market.”
AxiomSL’s risk calculation solutions deliver a consistent, transparent, automated approach to capital and credit data management, analytics, and reporting by drawing on a common data dictionary that harmonizes the intricacies of multi-jurisdictional reporting requirements. This centralized, automated, and highly scalable approach enables AxiomSL clients to meet current and future risk and reporting requirements without the need to reinvent and rebuild new technology each time regulatory mandates change.
“Many congratulations to AxiomSL for winning Best Risk Calculation Engine for Regulatory Compliance in our prestigious RegTech Insight Awards 2021. It’s a real vote of confidence from across our readership of 30,000 senior technology officers and data specialists, who selected AxiomSL as the clear winner in a very competitive field,” said Angela Wilbraham, CEO of A-Team Group, which hosts the RegTech Insight Awards.
Organized by the A-Team Group, and overseen by the RegTech Award Advisory Board, the RegTech Awards recognize both start-up and established providers of RegTech solutions, services, consultancy and legal advice. Winners are determined by a vote held amongst Data Management Review members at financial institutions using the technologies nominated, providing a true reflection of suppliers considered to be the best performers, by their clientele. The 2021 RegTech Awards were presented on May 19, 2021. For more information about AxiomSL’s risk calculation solutions, please click here.
AxiomSL, a leading global provider of solutions and managed services, delivers efficient risk and regulatory data-management and reporting outcomes for financial institutions. Clients leverage AxiomSL’s solutions across financial, liquidity, capital and credit, shareholding disclosure, trade and transaction, and tax mandates. Its single, fully managed, audit-empowered offering, RegCloud® – AxiomSL’s ControllerView® platform in the cloud, futureproofs clients against technology and regulatory change. AxiomSL’s client base spans national, regional, and global financial institutions. These comprise banks with $45 trillion in total assets including 80% of G-SIBs; investment managers with $13 trillion in assets under management; and 30% of the top 60 US broker-dealers representing $44 billion in shareholder equity. It covers 110 regulators across 50 jurisdictions. AxiomSL ranks in the top 20 of the Chartis RiskTech100®.
For more information, visit www.axiomsl.com
President, J. Roderick Public Relations
Tel +1 631 584 2200
Media Relations Director, Dina Communications
Tel +44 (0) 7801 590718
Global Head of Marketing and Communications, AxiomSL
Tel: +1 212 248 4188