November 21, 2016 –
With more than two decades of experience in deep data management along with regulatory domain expertise, AxiomSL has been recognized by leading financial firms worldwide for their robust data-driven, global enterprise platform which is delivering integrated regulatory and risk management solutions for the financial services industry. “AxiomSL’s strategic platform provides the flexibility to interface seamlessly with clients’ infrastructure to ensure compliance with multiple risk and regulatory mandates and external and internal reporting,” says Alexander Tsigutkin, CEO of AxiomSL. This integrated platform delivers traceability, transparency, and greater clarity across an organization’s financial position and risk exposure while producing timely reports.
According to Tsigutkin, the ability to amalgamate millions of transactions across business functions in a judicious manner with constant technological evolution has culminated into a challenge. The company’s global strategic platform’s unique approach aggregates and enriches data from various core financial, risk, and operational applications without any data conversion—facilitating greater efficiency and scalability. It provides multidimensional analysis capabilities via disaggregation of an entire portfolio’s risks and exposures, isolating those components to the lowest level of granularity while supporting multiple submission formats including XBRL.
As the quantum of structured and unstructured data grows and the requirement for transparency and traceability from regulators continue, Tsigutkin observes that the volume and granularity of data demanded by regulated and management entities are also growing. “Data must flow seamlessly through its products and lines of business, not only to support growth strategies, but also meet the ever-expanding regulatory compliance mandates,” adds Tsigutkin. This data fragmentation results in major struggles for firms when aggregating, enriching, analyzing, and validating vast amounts of information in order to accurately report their overall risk exposure. AxiomSL’s data-driven strategic platform steps in and acts as an integration and application development layer, which is implemented with minimal internal disruption and without a “black box” mentality. The global strategic platform comprises of two comprehensive solution namely ControllerView for regulatory and management financial reporting with an advanced Risk Management solution— and IntegrationCenter and Dynamic Data Warehouse, a complete integration and data-warehousing offering.
AxiomSL’s platform empowers financial firms to meet the challenges of BCBS 239 as the metadata layer provides lineage information from original source through the entire process to submission results. Addressing the challenges around risk data aggregation, data lineage, and data governance, financial firms need to establish integrated data taxonomies and architecture across the enterprise, which include information on the characteristics of the data (metadata) as well as unified naming conventions. “Our platform can create common translation tables to standardize clients’ metadata, which may be dispersed across the firm. Further, this integrated approach consolidates financial, risk, and reference data,” adds Tsigutkin. “The strategic platform treats data from multiple systems in its native state, with natural tracking of lineage and metadata production as data travels from one analytical/reporting layer to the next and from systems change management to business rules transparency.”
Tsigutkin advises firms to implement a robust data-driven platform which can act as a catalyst in linking the firm’s strategic initiatives across regulatory compliance, finance, risk, and operational activities. “AxiomSL’s collaborative platform facilitates unification of business and IT teams by bridging the differences in terminologies and methodologies,” he states. For the days to come, the company will enhance their platform to guide customers in a productive manner. “Firms should realize it is not about developing new apps as point solutions, but transforming businesses for future success,” concludes Tsigutkin.
This article was originally published in CIO Review.