26 Sep AxiomSL wins Reporting Product of the Year for Credit Agricole Singapore MAS 610 and 649 reporting
Singapore, 27 September 2017 – AxiomSL, the global leader in regulatory reporting, data and risk management solutions, has been named as “Reporting Product of the Year” at the Asia Capital Markets Awards 2017. The awards ceremony was jointly hosted by Futures & Options World (FOW) and Global Investor Group in Singapore on Thursday, 21 September. AxiomSL was recognised for its involvement in regulatory reporting to the Monetary Authority of Singapore mandates 610 and 649 for Credit Agricole Corporate and Investment Bank (Credit Agricole CIB).
Credit Agricole CIB chose to deploy AxiomSL’s solutions for its single, data-agnostic platform that integrates raw data pulled from multiple sources. This further enabled the bank’s’ Finance team to focus beyond regulatory compliance reporting to comprehensive financial analysis thereby enhancing overall business operations. The deployment covered all key functions of the liquidity risk management cycle; from data management to cash-flow generation, asset classifications, liquidity calculations, integrated management and regulatory reporting.
As part of the selection criteria, AxiomSL was acknowledged for its solutions to better tackle cross-jurisdictional reporting requirements. AxiomSL works with major French banks in Asia, as well as other global banks such as Credit Suisse, Julius Baer and Bank of China. AxiomSL is also in talks with major Australian banks in developing a strategic regulatory reporting framework ahead of implementation timelines provided by the Australian Prudential Regulation Authority (APRA).
In response to the expanding client base, AxiomSL has been steadily growing the team in APAC. The firm recently announced three senior leadership appointments earlier this year: APAC CEO Peter Tierney, Country Manager for Australia Andrew Wood and Asia-Pacific (APAC) Regional Sales Director, David Wormald. The team based in Australia has also quadrupled in size and is continuing to grow to effectively support the local client base.
Peter Tierney, APAC CEO AxiomSL said “We are honored to be recognised for our contribution to helping banks comply amidst a time of impeding regulations and uncertainty. It is heartening to see the support and encouragement which we are continuing to receive from our clients. It is an exciting phase of growth that we are in, and it is extremely promising to see the team progress at such pace.”
AxiomSL established its Asia Pacific headquarters in Singapore in 2010, with offices in Hong Kong and Sydney. Its platform has since been used by financial institutions in the region to comply with key regulatory changes such as FATCA, CRS, IFRS 9, regional liquidity coverage ratio, shareholding disclosure and central bank reporting.
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AxiomSL is the leading global provider of regulatory reporting, data 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 for change 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 the Dodd- Frank Act — CCAR, Basel III capital and liquidity requirements, IFRS 9/CECL, FATCA/CRS, EMIR, FDSF, BCBS 239, Solvency II, AIFMD, 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 awarded The Asian Banker’s 2016 “Best Compliance Risk Technology Implementation of the Year” as well as “Best Implementation at a Sell-side Firm” for the second year running for the 2017 Sell-side Technology Awards. It was voted Best Reporting System Provider in the 2015 Waters Rankings and was highlighted as a ‘Category Leader’ by Chartis Research in its 2017 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. www.axiomsl.com
The Asia Capital Markets Awards are an expansion of FOW’s (Futures & Options World) Awards for Asia programme and represent the largest, buyside-led capital markets awards in Asia. The categories are multi-asset class and recognise the very best achievements across the Asian capital market industries. The Asia Capital Markets Awards are judged by a panel of industry experts drawn from across the market in a range of disciplines.