LONDON, 28/11/2017: AxiomSL, the leading provider of regulatory reporting and risk management solutions, today announces the strategic partnership with German technical and regulatory support provider GridCon to leverage its German reporting know-how and extensive knowledge on data models for risk free data migration and address the new client data transition demand in the market.
The reason AxiomSL chose to partner with GridCon for German regulatory reporting is to expand their footprint in the region through benefiting from GridCon’s long term consultancy and extensive knowledge of the reporting obligations in Germany.
Regulatory reporting solutions in the German market are based on standard interfaces. The clients send their raw data according to the definition of these standard interfaces as csv, text or XML files. With this new partnership, GridCon’s adaptor will take these standard interfaces and convert the delivered data into the AxiomSL input data models, such as FINSTAT. This will allow a seamless integration of the currently implemented interface to AxiomSL platform, which will require zero effort from the client side on interfaces-adaption.
AxiomSL will be able to fully replace new clients’ existing regulatory reporting solutions via the adaptor provided by GridCon. This will enable an easy, seamless and efficient data transition over to AxiomSL’s strategic platform, where the regulatory reports will be generated and submitted to the relevant authorities within short implementation timeframes.
Hasan Mercan, Managing Director, GridCon commented: “The cooperation of AxiomSL and GridCon combines the core competencies of two market-leading companies in the banking industry. GridCon provides consulting services based on a stable customer base in the German banking sector. We are looking forward to a successful partnership with AxiomSL, a leading technology partner for regulatory reporting solutions.”
Ed Royan, CEO, AxiomSL EMEA commented: “We are very pleased to partner with GridCon, in line with our vision to expand AxiomSL’s footprint across Germany for regulatory reporting and risk management requirements. This strategic agreement will provide us with a key tool for easy and seamless data migration process from other vendors over to AxiomSL’s regulatory platform. With the opening of our new Frankfurt office, we are thrilled to address the requirements of Germany-based financial institutions for an effortless data transition. Thanks to GridCon’s well-designed adaptor and AxiomSL’s enterprise-wide data management capabilities, such migration process will be extremely easy to implement, keeping legacy systems unchanged whilst increasing workflow efficiency.”
GridCon provides technical and regulatory support for financial institutions and insurance companies since 2004. The company combines industry specific expertise, organisational and project management skills with in-depth IT-knowledge.
GridCon stands for the realization of individually customized applications, the implementation of banking industry standard software products and automated solutions for regulatory reporting in the financial sector. Our customers include leading financial companies on national and international level.
AxiomSL is the global leader in regulatory reporting and risk management solutions for the 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.
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, AnaCredit, FATCA, AEI (CRS), EMIR, COREP/FINREP, CCAR, FDSF, BCBS 239, Solvency II, AIFMD, IFRS 9, MAS, ASIC, REMIT, MiFID II, SFTR, 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 employs over 600 staff globally that are dedicated to servicing clients across many of the world’s major financial centres, including New York, São Paulo, London, Paris, Brussels, Luxembourg, Frankfurt, Amsterdam, Madrid, Singapore, Beijing, Hong Kong and Tokyo.
AxiomSL was awarded The Asian Banker’s 2016 “Best Compliance Risk Technology Implementation of the Year” as well as “Best Implementation at a Sell-side Firm” in the 2016 Sell-side Technology Awards. It 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.
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