Australia-Based Global Provider of Banking Services selects AxiomSL for its Global Regulatory Reporting and Basel II Capital Allocation

Date: May 6, 2009
Location: New York

AxiomSL, leading global provider of Regulatory Reporting and Risk Management solutions has announced today that an Australia based global provider of banking, financial advisory, investment and funds management services has selected its innovative regulatory reporting and data management platform, ControllerView® and IntegrationCenter™ as its integrated regulatory reporting solution for its global operations. The initial installation will take place in the Bank’s newly incorporated UK entity to fulfill both Bank of England, FSA reporting and Basel II capital adequacy requirements. Under the FSA reporting requirements, the solution will calculate the Bank’s capital requirements on a daily basis and will submit stipulated reports to the FSA periodically. ControllerView® will enable the calculation of Credit, Market, Concentration and Operational Risk capital requirements, Liquidity Risk and Large Exposures in accordance with the FSA Handbook rules and submit periodic returns to the FSA in the format of the new Integrated Regulatory Reporting (“IRR”) data items for Banks. AxiomSL will also provide the Bank with its template subscription services to assure ongoing compliance with FSA and BOE electronic submission requirements.

At a later stage, AxiomSL’s ControllerView® will enable the Bank at group level with the flexible reporting infrastructure to face increasingly changing regulatory environments. Particularly valuable to global institutions, AxiomSL’s state of the art solution will allow validation and exchange of reporting information as all reporting will be processed on an integrated platform. With one single system the Bank will be able to generate reports required by various local regulators while facilitating complete transparency and consolidated reporting across multiple entities. “Beyond AxiomSL’s regulatory know-how and global coverage, what inclined the Bank’s decision to go with Axiom was our ability to demonstrate our solution’s capability to deal with the Bank specific business mix during a swift Proof-of-Concept coupled with our strong references amongst world’s leading institutions with global operations, says Patrice Melloul, AxiomSL’s Managing Director. We are happy to provide this major Australian institution with an integrated regulatory platform for reporting around the globe and look forward to a prompt delivery.”