AxiomSL, a global provider of regulatory reporting and risk management solutions, was selected by Nationwide Building Society to deliver Bank of England (BOE), Prudential Regulation Authority (PRA), and Financial Conduct Authority (FCA) reporting requirements.
AxiomSL was selected over other solutions on the market, as it is able to accommodate Nationwide Building Society's complex data infrastructure and automate all of its regulatory reporting needs on one platform.
AxiomSL's strategic regulatory reporting platform is currently live delivering prudential and liquidity reporting including COREP, LCR and NSFR reporting via XBRL. Later this year the platform will be leveraged to deliver financial (FINREP) and risk/stress reporting. AxiomSL delivers the control, transparency and flexibility needed for clients to analyse their information and confidently submit accurate reports to regulators providing a strategic cost-effective solution to manage current and evolving regulatory reporting needs.
"AxiomSL's strategic regulatory reporting platform provided a flexible and scalable solution. This integrated platform consolidates workflow processes and controls, reducing our internal cost while enhancing further data integrity and traceability," commented Rob Brown from Nationwide Building Society.
"Regulatory risks are no longer just focused on the ability to comply but are about meeting the requirements of a multitude of regulations while keeping up with the rapid pace of change," said Edward Royan, AxiomSL EMEA COO. "The common trend among all of these regulations is the increased need for transparency, data quality, data reconciliation and data granularity to meet all disclosure requirements. AxiomSL's strategic platform successfully leverages clients' existing data infrastructure to meet regulatory requirements across multiple regulators and jurisdictions."