One of the largest retail, corporate and investment UK bank selects AxiomSL’s regulatory solution to comply with global regulations

Date: July 11, 2012
Location: New York

AxiomSL, leading global provider of regulatory reporting and risk management solutions, was chosen by one of the largest UK retail, corporate and investment banks with an extensive international presence. AxiomSL was selected for its IntegrationCenter™ framework, which will enable the Bank with operations in over 50 countries, to consolidate regulatory data reporting at its headquarter. IntegrationCenter™ combined with AxiomSL’s multi-jurisdictional reporting ControllerView® will deliver simultaneously UK FSA Integrated Regulatory Reporting (IRR) and mandatory Common Reporting of the European Capital Requirements Directive (CoRep). This integrated regulatory platform interfaces with clients’ existing data structure and eliminates the need for expensive customized programming while ensuring transparent, simplified & standardized processes with a complete audit trail.

AxiomSL’s leading state of the art framework acts as an “intelligent data management architecture hub” that links banks’ internal data calculations and directives with the external requirements and industry regulatory standards to ensure full compatibility and statutory compliance. These standardized processes and data calculations capabilities achieve harmonized reporting, provide economies of scale, eliminate redundant activities and focus more clearly on country-based regulations while concurrently meeting worldwide mandatory regulatory and legislative reporting requirements.

“Banks across the world are facing pressures from changes in supervisory structures and from heavily increased reporting burdens. The issue for UK banking sector relates to the fact that data requested from CoRep reporting is very different from the existing FSA Integrated Regulatory Reporting (IRR)” indicated Edward Royan, Head of professional services at AxiomSL. “AxiomSL’s core framework merges data from multiple and disparate systems and enables our clients to streamline existing compliance management processes. These standardized processes operate on a global integrated platform and successfully monitor regulatory requirements, deliver multi-jurisdictional calculations, adapt quickly to new upcoming directives while providing sustainable value to all their stakeholders.”

“As a leading UK bank, the implementation of CoRep creates challenges across several business groups for our client, especially as it relates to the granularity of information to be provided to the FSA” said Patrice Melloul, AxiomSL’s Managing Director. “To cope with the increased regulatory complexity and the enforcement of a stringent implementation timeline, AxiomSL’s CoRep templates were delivered this past June 2012 in our ControllerView® platform. This allows our clients to have a trial period to consolidate their financial and capital information, evaluate their control measures and assess data acquisition capability & reporting data models in order to determine their level of readiness and compatibility with CoRep’s reporting requirements.”

About AxiomSL

AxiomSL is a global leader in risk management and regulatory reporting solutions. Basel III, New Form PF regulations, liquidity, market and credit risk management and transparency are new norms where AxiomSL helps clients achieve best practice. Top 20 global financial firms use our Solutions; RiskMonitor® for risk management, Basel 123 for capital calculations and ControllerView® for regulatory reporting, serving global jurisdictions. Using our dynamic data management platform, these solutions seamlessly integrate with any technical environment in a matter of weeks. AxiomSL’s product line provides an end-to-end solution to comply with all regulatory requirements.