18 Jul AxiomSL recognized as Best Reporting System Provider in 2015 Waters Rankings
20 July 2015 – AxiomSL, the global provider of regulatory reporting and risk management solutions, has been voted Best Reporting System Provider by financial services practitioners in the 2015 Waters Rankings.
AxiomSL was chosen ahead of 20 other nominees in a competitive category in the annual ranking of financial technology companies, which is organized by Waters magazine. The result was decided by a poll that was only open to practitioners at financial firms.
AxiomSL provides solutions for a wide range of regulatory reporting and risk management requirements, including Basel III, the Comprehensive Capital Analysis and Review (CCAR), liquidity regulations, the Capital Requirements Directive IV (CRD IV), the Foreign Account Tax Compliance Act (FATCA), Solvency II, the Alternative Investment Fund Managers Directive (AIFMD), shareholding disclosures and many others. All of these solutions are built on a single flexible platform that contains the core analytical and reporting functionality.
At a time of major change, AxiomSL’s strategic platform is enabling banks, broker dealers, asset managers and insurers to significantly cut the cost and complexity of regulatory compliance, operations and management reporting by consolidating their infrastructure and eliminating duplicate work. The AxiomSL platform supports internal risk management, the Basel Committee on Banking Supervision’s (BCBS) 239 principles for risk data aggregation, and standards such as the International Financial Reporting Standards (IFRS).
The transparency, supported by full data and process governance, of AxiomSL’s platform has won praise among all of its clients. It includes the ability to aggregate data across the enterprise at any level of granularity required and drill down from the values in their final reports to their source data. AxiomSL’s advanced offerings enable firms to achieve the data lineage, risk aggregation, workflow automation, computation, validation and audit as well as disclosures in any format including XBRL. Further, business rules can be easily understood by users who do not have specialist-coding knowledge. These features give clients confidence in the automation of complex reporting business logic, data quality, governance and control in meeting stringent timeframes.
“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,” said Alex Tsigutkin, Chief Executive Officer (CEO), AxiomSL. “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.”
Anthony Malakian, US Editor, Waters, said: “Due to new regulatory reporting mandates, this category has grown increasingly competitive over the years, and our readers were surely impressed by the ability of AxiomSL’s platform to deliver a variety of internal and external reporting.”
Success in the 2015 Waters Rankings is the latest in a series of honors for AxiomSL. Chartis Research highlighted AxiomSL as a ‘category leader’ in its 2015 Sell-Side Risk Management Technology report. In 2014, AxiomSL was recognized for its work with Morgan Stanley, which won the Best Reporting Initiative category in the American Financial Technology Awards, and the company also topped the Customer Satisfaction category in the Chartis RiskTech100 rankings.
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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, Dodd-Frank, AIFMD, FATCA, EMIR, FINREP/COREP 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.