Allied Irish Banks picks Adenza for regulatory services
21 February 2022 Ireland
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Adenza, the company formed by the merger of Calypso Technology and AxiomSL, has been selected by Allied Irish Banks (AIB) to support the bank’s credit risk, securitisation, leverage ratio and large exposure risk reporting throughout Europe and the UK.
Adenza’s AxiomSL risk solutions deliver credit calculations, data management and analytics which enable banks to manage a wide range of global regulatory risk requirements, including global and cross-regional compliance with the rules developed by the Basel Committee on Banking Supervision.
Adenza’s risk calculation engine is part of the AxiomSL ControllerView data lineage and control platform, which allows institutions to input external model results, add source data and transform disparate data points into a Basel-driven data dictionary that supports advanced regulatory calculations, reporting and submission from a single source.
This approach allows users to address multi-jurisdictional regulatory calculations and reporting requirements with a data-focused process that facilitates explanation of changes in risk exposure and also helps to identify what caused those changes and where they occurred, the vendor says.
Commenting on the mandate, Ed Probst, head of strategy regulatory solutions at Adenza, says: “Banks are expected to not only produce risk capital reporting results, but also be able to show a clear audit trail.”
He adds: “Our data dictionary-led approach to credit risk is allowing AIB and other leading banks to automate risk calculations, drawing on data from across the entire institution, without compromising auditability.”
Jim Smyth, head of regulatory reporting, AIB, comments: “Adenza’s AxiomSL centralised and highly scalable approach to both standard and advanced credit risk calculations enables AIB to meet risk calculations and reporting requirements without the need to reinvent and rebuild new technology each time regulatory obligations change. We felt it was important to work with a firm that can deliver high powered reporting solutions across the regulatory reporting suite for today and in the future.”
Adenza’s AxiomSL risk solutions deliver credit calculations, data management and analytics which enable banks to manage a wide range of global regulatory risk requirements, including global and cross-regional compliance with the rules developed by the Basel Committee on Banking Supervision.
Adenza’s risk calculation engine is part of the AxiomSL ControllerView data lineage and control platform, which allows institutions to input external model results, add source data and transform disparate data points into a Basel-driven data dictionary that supports advanced regulatory calculations, reporting and submission from a single source.
This approach allows users to address multi-jurisdictional regulatory calculations and reporting requirements with a data-focused process that facilitates explanation of changes in risk exposure and also helps to identify what caused those changes and where they occurred, the vendor says.
Commenting on the mandate, Ed Probst, head of strategy regulatory solutions at Adenza, says: “Banks are expected to not only produce risk capital reporting results, but also be able to show a clear audit trail.”
He adds: “Our data dictionary-led approach to credit risk is allowing AIB and other leading banks to automate risk calculations, drawing on data from across the entire institution, without compromising auditability.”
Jim Smyth, head of regulatory reporting, AIB, comments: “Adenza’s AxiomSL centralised and highly scalable approach to both standard and advanced credit risk calculations enables AIB to meet risk calculations and reporting requirements without the need to reinvent and rebuild new technology each time regulatory obligations change. We felt it was important to work with a firm that can deliver high powered reporting solutions across the regulatory reporting suite for today and in the future.”
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