Date: February 2, 2011
Location: New York
AxiomSL, a leading global provider of Regulatory Reporting and Risk Management solutions has announced today that Morgan Stanley has selected its regulatory reporting and data management products, ControllerView® and Integration Center™ for their Korean regulatory reporting needs. ControllerView® will be used to generate all regulatory reports for the Bank of Korea (BOK) and the Financial Supervision Service (FSS), while Integration Center will give the bank the ability to incorporate data from multiple source systems.
Following the successful implementation of a Liquidity Reporting solution to face the new FSA requirements in the UK as well as the automation of the full suite of reports required by the Bank of England and the FSA, Morgan Stanley has decided to extend the use of AxiomSL to Asia. Within the framework of a global agreement, the first installation will take place in Korea, soon to be followed by several other Asian locations. AxiomSL will provide Morgan Stanley Korea with all of BOK and FSS requirements and supply ongoing maintenance of all required regulatory templates. ControllerView® is fully Unicode compliant providing a consistent implementation across all of Morgan Stanley’s Asian operations, regardless of the local language requirement. ControllerView® offers the flexibility required to support equally changes in reports and source systems while providing the essential transparency needed for a clear view of calculations, processes and results to both users and regulators. The system also provides a set of reporting templates which are maintained throughout regulatory changes. Its ability to handle disparate sources of data along with its proven high volumes performance has turned AxiomSL into the solution of choice for many institutions with global regulatory needs.
The AxiomSL solution is being adopted by firms that need the flexibility to meet ever changing requirements whilst maintaining control and transparency across data, calculations and reporting output. It is being extended for usage within financial reporting, tax reporting, financial consolidation, in fact, anywhere where data needs to be used to support decisions and/or used to produce reports.
“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.”
“We are very pleased to see more and more prestigious institutions increasing the use of AxiomSL globally to address the challenges they face across jurisdictions, systems, and entities. AxiomSL offers a global approach to the ever increasing demands of global regulators and executives while addressing specific local needs” says Olivier Kamoun, AxiomSL Asia Director. “Given the UK successful delivery we are looking forward to a swift deployment in Korea”.
AxiomSL is a leader in software solutions for enterprise Risk Management, Data Management, Regulatory Reporting and Compliance. AxiomSL’s proven technological platform solves the highly complex data, risk and financial management challenges faced by the world’s leading financial institutions. AxiomSL’s products help clients deal with the dynamics of business and technology changes, adapting to different data and technical environments, allowing mission critical activities to be performed across the entire enterprise. AxiomSL’s professionals cover a range of disciplines, including risk management, database and middleware technology, financial control and regulatory reporting.