Revolut is implementing a regulatory reporting and risk platform from Nasdaq to support its global growth ambitions.
The partnership centres on the deployment of Nasdaq AxiomSL, a compliance platform used by 90% of global systemically important banks to comply with domestic and international regulatory obligations.
Revolut has consolidated the majority of its regulatory reporting infrastructure across Europe, having most recently integrated all workflows in the United Kingdom. The growing partnership will see Nasdaq support Revolut’s global expansion as the firm aims to increase the number of customers to 100m, with plans to enter 30 new markets over the next four years.
“As we expand our global footprint, we are committed to ensuring our underlying infrastructure scales with us and strengthens our ability to operate," comments Murray Laister, head of group regulatory reporting at Revolut.
Revolut has embedded Nasdaq AxiomSL to streamline reporting across multiple jurisdictions, reducing the complexity of maintaining separate reporting frameworks for each country. All relevant data points are brought together across Revolut into a centralized platform, via a ready-to-use managed service that runs in the cloud.
Nasdaq's team of experts manage and maintain the underlying infrastructure, from keeping up with changing regulations across different countries to ensuring the system runs smoothly day-to-day.
Says Laister: "Our partnership with Nasdaq offers the flexibility, transparency and control to meet regulatory expectations across jurisdictions- without slowing down innovation and growth.”