LONDON, 01/05/2019 – AxiomSL, the leading provider of regulatory reporting and risk management solutions, announces today that Yapi Kredi Bank Nederland has selected AxiomSL’s strategic platform to comply with European Banking Authority (EBA) capital and liquidity regulations, in addition to De Nederlandsche Bank (DNB) specific financial and statistical reporting requirements. AxiomSL will enable Yapi Kredi to both reduce manual interactions in reporting and ensure that regulatory reports are submitted in a timely and efficient manner.
The bank selected AxiomSL to meet EBA and DNB reporting requirements due to the company’s strategic platform which incorporates all crucial features and calculations onto a single platform. Banks in the Netherlands are required to file a variety of complex reports, based on both European and domestic requirements, including common reporting (COREP) and financial reporting (FINREP) which are mandated as part of the Capital Requirements Directive IV (CRD IV).
AxiomSL’s data integrity and control platform ControllerView® provides critical Asset Liability Monitoring (ALM) features such as cashflow generation, Effective Interest Rate (EIR), Interest Rate Risk in the Banking Book (IRRBB) and Mark to Market (MtM) for derivatives. These cashflows and calculations are then integrated directly into CRD IV liquidity, capital and central bank solutions providing Yapi Kredi Bank with full transparency and data lineage for all EBA and DNB reporting requirements.
AxiomSL’s single data-management and reporting platform provides Yapi Kredi Bank with increased automation, allowing experts within the bank to reduce their manual workloads, as well as improve controls by tracing data in a precise, transparent and cohesive way. To align operational requirements, AxiomSL’s implementation consultants consolidate input data and report outputs onsite generating customised Management Information (MI) reports for Yapi Kredi’s headquarters in Turkey.
Mustafa Duru, Chief Risk Officer, Yapi Kredi commented: “AxiomSL’s strategic platform provides the ideal solution for transforming our reporting processes. We are confident that the increased automation will successfully deliver all of our central bank, liquidity and capital reports in a timely and accurate manner, while simultaneously lowering the cost of compliance. We look forward to continuing our work with AxiomSL.”
Ed Royan, CEO, AxiomSL EMEA commented: “We are delighted that Yapi Kredi Bank has selected our strategic platform to comply with the ECB’s capital and liquidity requirements as well as the DNB’s regulations in the Netherlands. Our strategic solutions simplify the reporting process with automation, data governance and end-to-end data management capabilities. This significantly lowers the cost of compliance for our clients, minimises human interaction and enhances operational efficiency. We are excited to deliver this outcome through our partnership.”
About Yapi Kredi
Yapı Kredi Nederland N.V. was formed by the July 1, 2007 merger of Koçbank Nederland N.V. (founded in 1996) and the former Yapı Kredi Bank Nederland N.V. (founded in 2001). In connection with this merger Koçbank Nederland N.V. changed its name to Yapı Kredi Bank Nederland N.V. The merged bank continues to operate under a full banking license issued by De Nederlandsche Bank (The Dutch Central Bank).
This merger enhanced the already developed strong reputation for customer service through the years while creating an even stronger bank. The bank provides a broad range of banking services, including retail & commercial banking, corporate and private banking services as well as correspondent banking activities.
Yapı Kredi Bank Nederland N.V. derives its strength from its shareholder Koç Financial Services, a 50/50 joint venture company formed by Koç Group and UniCredit.
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 honoured 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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