Major Swedish bank selects AxiomSL’s platform for regulatory reporting

AxiomSL has said that a major Swedish bank has selected its platform to centralize head-office regulatory calculations and reporting

AxiomSL, a provider of regulatory reporting and risk management solutions, has said that a major Swedish bank has selected its platform to centralize head-office regulatory calculations and reporting, and branch-level reporting in Germany, Norway, Finland, Poland, Denmark, Austria and UK.

In Sweden, the deal will also cover automating statistical reporting as well as CRD IV calculations and reporting including liquidity risk, credit risk, market risk, large exposures and capital adequacy.

The platform will enable the Swedish bank to reduce the cost and complexity of compliance by eliminating the need to maintain separate reporting systems for different regulatory requirements and jurisdictions, AxiomSL claims.

The platform can be used for all regulatory calculation and reporting requirements globally.

AxiomSL added that it continually monitors changes to the regulations and implements the necessary upgrades to its solutions including providing the latest iterations of the XBRL taxonomy that the European Banking Authority releases for CRD IV reporting.

AxiomSL COO for EMEA Ed Roya said: “Our flexible, high-performance platform means we are perfectly placed to help firms achieve this. This deal increases our growth in northern Europe and once again demonstrates our ability to meet the needs of a multijurisdictional bank. We look forward to working with other firms on similar projects later this year.”