Axiom SL secures Swedish mandate 27 July 2015Stockholm Reporter: Stephanie Palmer
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A large Swedish bank has chosen AxiomSL to centralise its head office regulatory calculations and reporting, and to provide branch-level reporting in Germany, Norway, Finland, Poland, Denmark, Austria and the UK.
The deal also includes automating statistical reporting and the calculations and reporting required under the Capital Requirements Directive (CRD) IV, including liquidity risk, credit risk, market risk, large exposures and capital adequacy.
AxiomSL provides a single platform for all regulatory calculation, spanning various requirements and jurisdictions. In this way it intends to reduce the cost and complexity of compliance.
The bank, which has not been named, will also receive on-going support as the platform monitors changes to regulation and implements the appropriate upgrades. Users will, however, still have access to previous releases of the platform, which may be required for re-submitting or re-running reports.
Ed Royan, COO for AxiomSL in Europe, the Middle East and Africa, said: “As regulatory changes keep coming, we are seeing increasing demand from firms that want to simplify their approach to compliance by using a single platform to manage reporting requirements in multiple jurisdictions. Our flexible, high-performance platform means we are perfectly placed to help firms achieve this.”
He added: “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.”
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