LONDON, 11 Jan 2019: AxiomSL, the leading provider of regulatory reporting and risk management solutions, announces that Banque Palatine, a subsidiary of Groupe BPCE, has selected AxiomSL’s strategic platform to comply with AnaCredit reporting requirements in France. AxiomSL will meet the bank’s objective of automating the complex process of AnaCredit reporting and ensure submission in a timely and efficient manner.
The European Central Bank (ECB) introduced the AnaCredit regulation in order to collect granular credit data on individual bank loans assigned by credit institutions to companies or legal entities in the eurozone. Reporting agents faced several significant challenges ahead of their submission deadline for complete datasets in September 2018, including data granularity, reporting frequency and multi-jurisdictional requirements. Banque Palatine selected AxiomSL’s platform in order to efficiently tackle these challenges and benefit from its quick time to market and strong data management capabilities. AxiomSL’s multi-jurisdictional global coverage can also support any future decisions to extend the agreement scope and lower the regulatory system total cost of ownership (TCO).
AxiomSL’s flexible and scalable functionalities, along with its business dashboards, allow users to quickly process and manage the large quantities of data that are required in order to comply with the regulation. The solution is well positioned to address the complexities of AnaCredit by providing a single strategic platform that can accommodate multiple client data structures, which are subsequently mapped into a single AnaCredit data dictionary. This meets the threshold rules of each National Central Bank (NCB), as well as AnaCredit’s granular data requirements and submission structures. The solution can handle any volume of data and is capable of supporting diverse clients, regardless of their size or lending volume variations.
Marc Philippe, Chief Data Officer, Banque Palatine commented: “We have chosen AxiomSL’s strategic platform, as its AnaCredit solution offering will allow us to reduce implementation costs and increase operational efficiency, by automating our reporting processes in a flexible and scalable fashion. We are pleased to be working with AxiomSL.”
Ed Royan, CEO, AxiomSL EMEA commented: “We are delighted that Banque Palatine selected our strategic platform to comply with AnaCredit in France. AxiomSL’s regulatory platform has proven to be highly successful in meeting the complex AnaCredit requirements for a wide range of clients across the eurozone. Our strategic offering simplifies the reporting process with automation, data governance and end-to-end data management capabilities. We manage the entire process for our clients – from data sourcing to submission to the relevant jurisdictions – through a single platform. This significantly lowers the cost of compliance for our clients, ensures quick time to market and enhances operational efficiency. We look forward to establishing a long-lasting strategic partnership with Banque Palatine.”
About Banque Palatine
Banque Palatine is the BPCE Group’s business banking and wealth management specialist, supporting entrepreneurs in both their professional and personal lives. It offers its expertise to SMEs and mid-sized companies. Its network of 49 branches in France, working in synergy with expert business lines in areas such as private asset management, corporate finance, real estate, international trade and dealing rooms, now supports more than 11,600 business clients and 66,000 private clients.
For more information, visit www.palatine.fr or connect on Twitter @BanquePalatine.
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 700 staff globally that are dedicated to servicing clients across many of the world’s major financial centres, including London, Paris, Brussels, Luxembourg, Frankfurt, Amsterdam, Madrid, New York, São Paulo, Singapore, Beijing, Hong Kong and Tokyo.
AxiomSL has received multiple awards and industry recognitions. Most recently, the firm was named “Best Risk Calculation Engine for Regulatory Compliance” in Data Management Review’s 2018 RegTech Awards and 2018 Category Leader for “Data Integrity and Control Solutions in Financial Services” by Chartis Research. This was the second year AxiomSL has been honored with both awards. In addition, the company was recognized as the “Best Reporting Platform for the Sell-Side” in WatersTechnology’s 2018 Sell-Side Technology Awards. The company’s cutting-edge solutions have received additional accolades from other industry leaders and observers, including the Waters Magazine Rankings, American Financial Technology Awards, and Chartis RiskTech100.
For more information, visit www.axiomsl.com.
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