BMCE Bank International goes live on AxiomSL’s regulatory platform

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London, 22 June 2016 – AxiomSL, the leading global provider of regulatory reporting and risk management solutions, announced today that BMCE Bank International, a subsidiary of one Africa’s largest banks, has begun using AxiomSL’s platform to automate regulatory calculations and reporting in the UK. The bank chose AxiomSL because of its widely-recognized ability to produce accurate, automated regulatory reports while containing the cost of compliance.

BMCE Bank International is using the AxiomSL platform to comply with its Bank of England (BOE) statistical reporting requirements, including FSA 047/048, ELS and balance sheet returns. The platform is also being used for Common Reporting (COREP) and a range of calculation requirements mandated by the Capital Requirements Directive IV (CRD IV).

AxiomSL is providing all of the required calculations and report templates, and will supply updated versions when they are changed by the regulator. These regulatory update releases are separate from software releases, and can therefore be implemented quickly without the need to undertake extensive regression testing.

BMCE Bank International is also benefiting from AxiomSL’s deep knowledge and experience of regulatory reporting. In the case of BOE reporting requirements, AxiomSL’s solution has been recognized by the regulator since 2004. AxiomSL’s subject matter expertise has already proved beneficial when providing BMCE Bank International with an analysis of its calculation and reporting requirements.

BMCE Bank International has been particularly impressed by the quick time to market offered by AxiomSL and the light-touch nature of its implementation projects. This is due to the fact AxiomSL’s platform does not require the use of a particular data model. As a result, banks can load their data onto the platform as is, and do not need to spend time setting up an extract, transform, load (ETL) layer that will convert the data into a new format.

“We are pleased to be working with the recognized leader in the regulatory calculation and reporting space,” said Mohammed Afrine, Chief Executive Officer at BMCE International. “AxiomSL’s platform provides all of the functionality we require, from data aggregation and normalization to report creation and submission. The quick time to market offered by AxiomSL makes the platform very attractive.”

“We have built up an unrivalled knowledge of regulatory calculation and reporting requirements over the years while supporting financial firms of all types and sizes. We are pleased to now also be working with BMCE Bank International and ensuring they have the optimal solution for all of their regulatory requirements,” said Ed Royan, Chief Operating Officer EMEA, AxiomSL. “It is clear that many firms are looking for new solutions to manage BOE and CRD IV regulations. We are looking forward to working with more clients on these topics in the coming months.”

Press contacts:

London
Eva Schueckel
Greentarget
Email: eva.schueckel@greentarget.co.uk
Tel: +44 20 7324 5485
Ava Lawrence
AxiomSL
Email: alawrence@axiomsl.com
Tel: +44 20 3823 4600
Singapore
Tim Williamson / Prisita Menon
Cognito
Email: AxiomSL.Asia@cognitomedia.com
Tel: +65 6221 7310
Josephine Chia
AxiomSL
Email: jchia@axiomsl.com
Tel: +65 3159 1055
New York
Eric Hazard
Cognito
Email: Eric.Hazard@cognitomedia.com
Tel: +1 646 395 6300
Francine Gittins
AxiomSL
Email: fgittins@axiomsl.com
Tel: +1 212 248 4188

About BMCE Bank International:

BMCE Bank International Plc (BMCE Bank International), formerly known as MediCapital Bank, is a leading international bank specialising in African investment. We connect international institutions and investors with a diverse portfolio of investment opportunities on the continent. 

BMCE Bank International structures private sector deals that are below the radar of larger investment banks and beyond the scope of local banks. We offer a full service of investment and wholesale banking facilities with core divisions in Corporate Banking and Financial Markets. We also specialise in providing corporations in Africa with access to international capital markets and financial expertise. 

BMCE Bank International has a proven team of non-executive and executive directors, with many years experience of working across a range of banking sectors and geographical regions. Together we bring an unrivalled knowledge of the opportunities that Africa presents, and the experience and expertise to capitalise upon them. 

Our passion for doing business in Africa is driven by our desire to contribute to the long-term development of African economies. We believe that we have identified an approach to doing business on the continent – and in other emerging economies around the world – that creates substantial and long-term opportunities, both for those parties involved in an enterprise and for a wider range of stakeholders. 

BMCE Bank International is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. http://www.bmce-intl.co.uk/

About AxiomSL:

AxiomSL is the global leader in regulatory reporting and risk management solutions for financial industry, including banks, broker dealers, asset managers and insurance companies. Its unique enterprise data management (EDM) platform delivers data lineage, risk aggregation, analytics, workflow automation, validation and audit functionality.   

The AxiomSL platform seamlessly integrates clients’ source data from disparate systems and geographical locations without forcing data conversion. It enriches and validates the data, and runs it through risk and regulatory calculations to produce both internal and external reports. The platform supports disclosures in multiple formats, including XBRL. The unparalleled transparency offered by the high-performance platform gives users the ability to drill down on their data to any level of granularity.

AxiomSL’s platform supports compliance with a wide range of global and local regulations, including Basel III capital and liquidity requirements, the Dodd-Frank Act, FATCA, AEI (CRS), EMIR, COREP/FINREP, CCAR, FDSF, BCBS 239, Solvency II, AIFMD, IFRS 9, central bank disclosures, and both market and credit risk management requirements. The enterprise-wide approach offered by AxiomSL enables clients to leverage their existing data and risk management infrastructure, and reduces implementation costs, time to market and complexity.

AxiomSL was voted Best Reporting System Provider in the 2015 Waters Rankings and was highlighted as a ‘category leader’ by Chartis Research in its 2015 Sell-side Risk Management Technology report. The company’s work has also been recognized through a number of other accolades, including success in the Best Reporting Initiative category of the American Financial Technology Awards and in the Customer Satisfaction section of the Chartis RiskTech100 rankings.  www.axiomsl.com