Major South African Bank Acquires AxiomSL ControllerView® for FSA Liquidity Reporting

Date: November 5, 2008
Location: New York

AxiomSL, leading global provider of Regulatory Reporting and Risk Management solutions has announced today that a major South African Bank has acquired its innovative regulatory reporting and data management products, ControllerView® and IntegrationCenter™ to automate their UK Liquidity Reporting operations.

Given the increasing complexity of liquidity reporting requirements, ControllerView® will provide the Bank with the complete functionality to comply with FSA Liquidity Reporting requirements along with internal management reporting. AxiomSL’s FSA subscription service will also guarantee the Bank’s ongoing compliance with regulatory changes. IntegrationCenter provides a unified reporting environment by integrating seamlessly with all of The South African Bank’s transaction processing, reference information and accounting systems for optimum transparency from transactional level to the final reports delivered to the regulators and internal management reporting. With data originating across a wide range of systems, AxiomSL provides financial institutions, with a robust and accurate reporting of high volume of business across a wide range of financial products, a integrated regulatory platform for reporting around the globe.

“We were impressed by the flexibility and power of the solution and the quality of professional services during the UK implementation” commented Aditya Gupta, Morgan Stanley’s Technology Executive Director. “This along with increasing regulatory demands encouraged us in taking a strategic decision to proceed with AxiomSL, not only for all of our UK operations but moreover on a global scale with priority focus on Asia.”

“AxiomSL’s domain experience and ability to conduct a successful proof-of-concept in a short period of time has secured the Bank’s decision to go with Axiom, explains Patrice Melloul, MD at Axiom. We are happy to add this major South African institution to the rapidly growing user community of AxiomSL products and are looking forward to a swift implementation.”