Global US bank further expands risk and regulatory reporting in Germany with AxiomSL
AxiomSL, a provider of regulatory reporting and risk management solutions, has implemented its ControllerView transparent data integrity and control platform at a major American bank based in Germany.
The global strategic implementation enables the client to efficiently manage multiple regulators’ time-critical and complex requirements today and going forward.
The implementation started with AxiomSL’s AnaCredit solution that enables filings across multiple eurozone countries to meet the requirements of the European Central Bank, the Bundesbank, and various National Central Banks. Following that success, the bank decided to undertake a strategic expansion of its regulatory reporting across Europe by leveraging AxiomSL’s seamless data-driven platform capabilities. The expansion encompasses numerous regulatory mandates, including COREP, FINREP, Bista/Austa Reporting, Resolution Reporting, Million Loans Reporting, liquidity, and local reporting.
The bank said it was essential to stay on top of multiple regulatory mandates and reporting needs, especially in today’s crisis environment. The aim is to build a trusted regulatory and risk-reporting ecosystem with AxiomSL’s platform—catering for all current and future regulatory requirements, aligning with the objective of fostering transparency throughout the entire process.
Claudia Thurner, EMEA general manager, AxiomSL, said: “Germany plays a significant role in driving our future growth and we are delighted to collaborate with our prestigious client on its strategic endeavour.
“In this current environment where unparalleled changes are occurring, it is critical that financial institutions have a vision for optimising their regulatory compliance processes and this effort is not a sprint but a marathon.
“Having grown up in Germany, I fully appreciate the challenges our clients face in complying with Federal Financial Supervisory Authority and Bundesbank requirements, as well as other regulators.
“I am confident that AxiomSL’s capabilities will enable the bank to achieve its strategic objectives, manage complex regulatory mandates, and future-proof their risk and regulatory reporting.”
