AxiomSL selects Medellin, Colombia to set up LATAM headquarters


Medellin, September 14, 2016. AxiomSL, a global leader in risk management, regulatory compliance and data management for the financial services industry, inaugurated its headquarters for Latin America in the city of Medellin in Colombia. The opening of the office in Medellin is part of a strategic worldwide expansion which addresses the changes in the regulatory landscape affecting financial firms by delivering a holistic view of risk and finance operations.

AxiomSL | AxiomSL Opens Latin American headquarters in MedellinAxiomSL opted for the Colombian market since the company has been conducting key operations with major banks in the country, and the city of Medellin had the necessary technology and infrastructure for business growth in the region.

With over 25 years of successful track record globally, AxiomSL’s new office opening enhances the importance of the Latin American market for the company, which is already conducting business in Mexico, Chile, Peru, Ecuador and Brazil. This location will allow a greater closeness and significant expansion with existing and new clients in the region.

AxiomSL’s founder and CEO Alex Tsigutkin attended the opening, as well as the Head of Latin America Jack Villacis and were welcomed by the heads of the Agency for Cooperation and Investment (ACI) of Medellin and the Metropolitan Area, Director Mr. Sergio Escobar, and Assistant Director of Projects and Investments Ms. Sandra Ospina.

AxiomSL | AxiomSL Opens Latin American headquarters in MedellinAxiomSL’s strategic platform for change enables clients to meet regulatory, finance and risk requirements, including automation of reports, business logic, integration and data enrichment, data lineage and auditability. Further, the platform is answering a growing demand in the LATAM region, where the increased complexity of new regulations, intensified with greater demands for transparency, data lineage and granularity, are forcing financial institutions to re-assess their current infrastructure and operating models.

In addition to the reporting requirements for management, business and financial institutions in Latin America they must comply with a broad and complex range of international regulations, including Basel I, II and III Capital and Liquidity requirements, Dodd-Frank Stress Testing, FATCA-CRS, IFRS 9, Solvency II and market and credit risk requirements.

“We are thrilled about opening an office in Medellin, Colombia” said Alex Tsigutkin, Chief Executive Officer, AxiomSL. “As the LATAM financial firms are required to quickly comply with national and international regulations, AxiomSL’s platform for change enables financial institutions to quickly address regulatory changes and avoid lengthy and expensive programming exercise. When these features are coupled with automated validation and reconciliation, it provides clients and regulators with confidence in the accuracy, transparency and control levels that are needed to support internal risk management, regulatory reporting.”

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About AxiomSL:

AxiomSL is the leading global provider of data management, regulatory reporting and risk management solutions for financial services firms, 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, 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.