AxiomSL reports Spanish bank contract win

Source: AxiomSL

AxiomSL, the leading global provider of regulatory reporting and risk management solutions, announced today that a leading Spanish bank in Mexico will deploy AxiomSL’s analytics and reporting platform to meet Mexican regulatory and credit risk reporting requirements, manage complex calculations and comply with multiple submission deadlines.

AxiomSL’s platform enables the institution to gather, aggregate, enrich, validate and process large amounts of data at any level of granularity across siloed systems, and submit reports to one of the main regulators in Mexico, the Comisión Nacional Bancaria y de Valores (CNBV). Using the AxiomSL platform, the institution is able to calculate their credit risk capital using key indicators such as Exposure at Default, Loss Given Default and Probability of Default.

Due to the ever-changing regulatory environment, financial firms face many challenges in reconciling and managing their reports to achieve regulatory compliance. As a result, institutions now adopt a more strategic and holistic approach which enhances their current systems through the implementation of an integrated platform with complete flexibility and transparency. The high-performance capabilities of the AxiomSL platform allows firms to adapt quickly to internal changes and regulatory demands, with complete versioning and audit functionality, and enables firms to address required calculations without the need for coding or programming knowledge. These features were key considerations for the institution in their selection process.

“We are delighted this leading Spanish bank has joined our growing list of distinguished clients. Our holistic, data-driven platform delivers risk aggregation with full data and process governance. It empowers financial institutions to respond quickly and accurately to external regulatory demands, as well as internal management reporting requirements,” said Alex Tsigutkin, CEO AxiomSL. “With increased regulation, tighter margins and ever-changing market conditions, it is critical that financial services institutions (FSIs) have a responsive, configurable IT platform that allows them to drill down and slice and dice their data with the support of pre-built dashboards and visualization tools.”

AxiomSL’s flexible and robust tool for regulatory calculations and reporting seamlessly integrates with clients’ existing infrastructure, scales to address large volumes of disparate data, improves automation, produces and discloses reports (with edit checks and result validation) and lowers the cost of compliance. Further, the platform streamlines reporting and analytics processes across all business functions, enabling FSIs to maintain the required levels of capital by providing a unified view of their risk management and financial data, which is transparent and granular. This gives decision-makers confidence in the automation of complex reporting business logic as well as full control over every step of the regulatory reporting and risk management process. 

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