FirstRand Bank Limited (London Branch) goes live on AxiomSL’s solution for Bank of England reporting

29 June 2016 – AxiomSL, the leading global provider of regulatory reporting and risk management solutions, announced today that FirstRand Bank Limited (London Branch) has gone live on its solution for the production and submission of the statistical reports required by the Bank of England (BOE).
AxiomSL’s solution has been recognized by the BOE since 2004. It supports all aspects of reporting to the regulator, from the aggregation and cleansing of data to the population of templates and submission of completed reports via the Online Statistical Collection Application (OSCA). AxiomSL provides all of the required report templates and updates them when they are changed by the BOE. AxiomSL released the 2016 BOE report changes before the end of 2015 – months in advance of their implementation.
The BOE solution is built on the same platform as all of AxiomSL’s other regulatory solutions. This gives financial firms a unique opportunity to use a single platform to comply with multiple regulatory requirements. To minimize the impact on clients, regulatory-specific updates are segregated from updates to the core platform functionality.

Press contacts:

Eva Schueckel
Tel: +44 20 7324 5485
Ava Lawrence
Tel: +44 20 3823 4600
Tim Williamson / Prisita Menon
Tel: +65 6221 7310
Josephine Chia
Tel: +65 3159 1055
New York
Eric Hazard
Tel: +1 646 395 6300
Francine Gittins
Tel: +1 212 248 4188

About FirstRand Bank Limited (London Branch):

RMB is the leading South African bank in Eurobond issuance for South African issuers.
Rand Merchant Bank operates in the UK as a division of FirstRand Bank Limited (London Branch).
We give international investors access to sub-Saharan debt products in both hard and local currency. We leverage our local investment banking network to provide unique and bespoke investment products to the international investment community. In addition, RMB London provides investors with innovative solutions to access private equity and debt opportunities in Africa via fund structures and risk-sharing initiatives.
RMB London provides companies with physical operations in sub-Saharan Africa, access to a truly international purpose-built investor base with specific appetite for sub-Saharan debt products, as well as balance sheet lending. This has allowed RMB to become the leading South African bank in Eurobond issuance for South African issuers.

About AxiomSL:

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.

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