PNC contracts with AxiomSL for regulatory reporting

Source: AxiomSL

AxiomSL, the leading global provider of regulatory reporting and risk management solutions, announced today that PNC, one of the largest banks in the United States, will deploy the AxiomSL platform to meet regulatory reporting requirements, such as FR Y9c, 14 M/Q and 5G/2052a, across the U.S., Canada and the Bahamas.

AxiomSL was selected by PNC to be its strategic regulatory reporting solution provider. AxiomSL’s enterprise-wide integrated solution consolidates data across multiple entities, enabling PNC to streamline reporting processes and improve data accuracy, while benefiting from greater transparency and traceability. AxiomSL’s platform will enable the bank to automate its compliance with increased analytical and reporting requirements within the stringent timelines set by regional and global mandates.

“We are proud to have been chosen by PNC, a leading and well-respected bank,” said Alex Tsigutkin, CEO at AxiomSL. “AxiomSL’s advanced offering will enable PNC to automate complex analytical and regulatory processes, as well as providing full data and process governance. AxiomSL’s ability to drill down into the data makes it a powerful tool which, paired with the flexibility of its risk calculation engine, enables financial firms to meet mandates across multiple regulators and jurisdictions. The inherent flexibility of the platform allows financial firms to keep pace with regulatory change while containing costs.”

AxiomSL provides a centralized and comprehensive analytical and regulatory platform that provides a scalable, auditable and high-performance framework, which can be used to tackle the multi-jurisdictional and multi-faceted requirements of financial institutions. This holistic approach gives firms full control of the entire process for risk management and finance functions, data aggregation capabilities, automation of complex analytical and reporting business logic and internal and external reporting.

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