Date: November 7, 2011
Location: New York
AxiomSL, a leading global provider of regulatory reporting and risk management solutions, announced today that as leading US global financial services firm has gone live with AxiomSL’s Basel123™ Capital Adequacy module, integrated with its ControllerView® regulatory reporting platform. Basel123 is being used to provide Basel 2 calculations within an automated end to end process to electronically file their FFIEC-101 report with the US regulators.
After deploying successfully AxiomSL’s ControllerView® platform for its regulatory reporting needs, the Firm started implementation of the Basel123™ module earlier this year to calculate regulatory capital requirements as mandated by the US regulators in compliance with Basel 2 rules. Basel123™ implementation provided swift time to market as it was completed from start of design specs to final electronic submissions of results to regulators under 7 months. AxiomSL’s platform is now processing large number of data sources allowing for the creation of logical data models specific to all aspects of the Basel 2 capital calculation process. AxiomSL provides complete transparency of calculation, category logic on source data and drill-down/drill-up functionality.
With AxiomSL’s Basel123™ and ControllerView®, the Company is now equipped with an agile enterprise-wide solution providing a comprehensive, single point of process validation for all of Basel 2 data and calculation criteria, formulas and results.
“We are proud to have delivered AxiomSL’s solutions to such a respected financial institution” , said AxiomSL’s CEO Alex Tsigutkin.
“This project illustrates how AxiomSL can work successfully with top financial institutions that are increasingly looking for strategic solutions to achieve complete transparency in their required reporting to regulatory authorities, as well as within their own organizations”.
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.