28 Apr Regulatory disclosure support for financial institutions
AxiomSL releases regulatory disclosure support for financial institutions participating in the Australian government’s COVID-19 SME Guarantee Scheme
Sydney, 29 April 2020 – AxiomSL, the industry’s leading provider of regulatory reporting and risk management solutions, today announces they have provided clients in Australia with a new release of their Australian Prudential Regulation Authority (APRA) reporting solution, to incorporate the brand new ARS 920 (COVID-19 SME guarantee scheme) requirements. This scheme was announced on 16 April 2020 and AxiomSL is pleased to deliver an automated solution for this weekly report, before the first collection date on 1 May 2020.
This new reporting standard has been recently released by APRA and has a very short runway, before being effective due to the pressing nature of the COVID-19 situation, both locally and globally. This collection includes granular levels of individual loan-level data, following the global trend for regulators to ask for more detailed information on a much quicker reporting cycle. This trend can also be seen with APRA’s recent announcement about new data collections around the early release initiative for superannuation funds and Registered Superannuation Entities (RSEs), with a weekly reporting schedule.
Andrew Wood, Country Manager (Australia) AxiomSL, said: “I’m exceptionally proud of the way our local and international teams have adjusted their daily working practices to deliver throughout this pandemic. The rapid release of ARS 920 is an example of how client and supplier teams need to work closely together as new risk and regulatory obligations emerge during this period of disruption”.
AxiomSL is a global leader in risk analytics, data-management, and regulatory-reporting solutions. Leveraging more than 25 years’ experience, AxiomSL combines its deep industry experience and intelligent data-management platform to deliver solutions and services around regulatory and risk reporting, liquidity, capital and credit, operations, trade and transactions, and tax analytics. The platform can be deployed on premise or on the cloud. Its client base spans regional and global financial institutions with more than $43 trillion in total assets and investment managers with more than $11 trillion in assets under management. Its coverage encompasses more than 110 regulators across 55 jurisdictions. AxiomSL is in the top 20 of the Chartis RiskTech100® 2020 ranking.
For more information, visit www.axiomsl.com.
Associate Marketing Manager, AxiomSL APAC
Tel: +65 6955 7660