03 May PNC Selects AxiomSL for Regulatory Reporting
Rapid implementation and flexible integration capability empower financial firms to meet regulatory and risk management requirements as well as internal and external reporting
New York – May 3, 2016 – AxiomSL, the global provider of regulatory reporting and risk management solutions, announced today that PNC, one of the largest banks in the United States, will deploy the AxiomSL platform to meet the regulatory reporting requirements such as FR Y9c, 14 M/Q and 5G/2052a across the U.S., Canada and the Bahamas.
AxiomSL was selected by PNC to be its strategic regulatory reporting solution provider. AxiomSL’s enterprise-wide integrated solution consolidates data across multiple entities, enabling PNC to streamline reporting processes, improve data accuracy, and provide greater transparency and traceability. AxiomSL’s platform will enable the firm to achieve complete automation in managing increased analytical and reporting requirements within the stringent timelines set by regional and global mandates.
“We are proud to have been chosen by PNC, a leading and well-respected bank,” said Alex Tsigutkin, CEO at AxiomSL. “AxiomSL’s advanced offering will enable PNC to automate complex analytical and regulatory process, as well as full data and process governance. AxiomSL’s capability to drill down into the data makes it a powerful tool, which, paired with the flexibility of its risk calculation engine, enables financial firms to meet mandates across multiple regulators and jurisdictions. The inherent flexibility of the platform allows financial firms to keep pace with the regulatory changes while containing costs.”
AxiomSL provides a centralized and comprehensive analytical and regulatory platform that provides a scalable, auditable and high-performance framework and can be used to tackle the multi-jurisdictional and multi-faceted requirements of financial institutions. This holistic approach gives firms full control of the entire process for risk management and finance functions, data aggregation capabilities, automation of complex analytical and reporting business logic and internal and external reporting.
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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.