25 Feb AxiomSL opens office in Poland as part of continued European expansionPolskie
25 February 2016 – AxiomSL, the leading global provider of regulatory reporting and risk management solutions, announced today that it has opened a new office in Poland, in response to increased demand in Central and Eastern Europe from financial firms which must comply with a range of new regulatory requirements.
Staff at the new office in Wrocław will develop and implement new regulatory solutions for the Central and Eastern European markets. Wrocław is the largest city in western Poland and is renowned for its university of technology.
In addition to domestic statistical reporting requirements, financial firms in Central and Eastern Europe must comply with a range of pan-European and global regulations, including CRD IV (COREP, FINREP, the LCR, NSFR and ALMM), EMIR, MiFID II, CRS (AEI) and IFRS 9. As the regulations mount up, many firms are realizing it is no longer sustainable to rely on a series of point solutions for individual requirements. AxiomSL’s Polish team will be helping firms like these to cut the cost and complexity of compliance by consolidating all of their regulatory calculations and reporting onto AxiomSL’s strategic platform.
The establishment of a new office in Poland continues a pattern of rapid expansion for AxiomSL in Europe. In 2015, the company opened new offices in Luxembourg and Amsterdam; increased the number of employees in Europe by 30%; and added coverage of a wide range of regulatory calculation and reporting requirements in France, Spain, Germany and Sweden . The company achieved similar levels of expansion in North America, Latin America and Asia-Pacific.
“Our new office in Poland will become an important hub for our work throughout Central and Eastern Europe,” said Ed Royan, Chief Operating Officer EMEA, AxiomSL. “Firms in the region must keep up with a range of new regulatory requirements and it is clear they are looking for a new, more efficient way to do this. We are offering them just that by giving them the opportunity to manage all of their regulatory calculation and reporting requirements on a single strategic platform. Our Polish team will be building out solutions that address local regulatory challenges and will be on hand to implement these for firms in the region.”
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AxiomSL is the leading global provider of regulatory reporting and risk management solutions for financial services firms, including banks, broker dealers, asset managers and insurance companies. Its unique enterprise data management (EDM) platform delivers data lineage, risk aggregation, analytics, workflow automation, validation and audit functionality.
The AxiomSL platform seamlessly integrates clients’ source data from disparate systems and geographical locations without forcing data conversion. It enriches and validates the data, and runs it through risk and regulatory calculations to produce both internal and external reports. The platform supports disclosures in multiple formats, including XBRL. The unparalleled transparency offered by the high-performance platform gives users the ability to drill down on their data to any level of granularity.
AxiomSL’s platform supports compliance with a wide range of global and local regulations, including Basel III capital and liquidity requirements, the Dodd-Frank Act, FATCA, AEI (CRS), EMIR, COREP/FINREP, CCAR, FDSF, BCBS 239, Solvency II, AIFMD, IFRS, central bank disclosures, and both market and credit risk management requirements. The enterprise-wide approach offered by AxiomSL enables clients to leverage their existing data and risk management infrastructure, and reduces implementation costs, time to market and complexity.
AxiomSL was voted Best Reporting System Provider in the 2015 Waters Rankings and was highlighted as a ‘category leader’ by Chartis Research in its 2015 Sell-side Risk Management Technology report. The company’s work has also been recognized through a number of other accolades, including success in the Best Reporting Initiative category of the American Financial Technology Awards and in the Customer Satisfaction section of the Chartis RiskTech100 rankings.