French Multinational Bank Appoints AxiomSL for HKMA and MAS Regulatory Reporting Solutions

French Multinational Bank Appoints AxiomSL for HKMA and MAS Regulatory Reporting Solutions

- AxiomSL was also appointed by the French bank in New York for regulatory reporting to the Federal Reserve

- AxiomSL calls on firms to rethink their regulatory reporting from compliance "burden" to macro-level supervision

SINGAPORE, HONG KONG and SYDNEY, Aug. 2, 2017 /PRNewswire/ -- AxiomSL, the global leader in regulatory reporting, data and risk management solutions has been appointed by the Asia-Pacific (APAC) headquarters of a leading French multinational bank to implement its enterprise data management platform. AxiomSL's platform will integrate and enrich the bank's existing data architecture to comply with Hong Kong Monetary Authority (HKMA) mandate MA (BS) 1 and Monetary Authority of Singapore (MAS) mandate 610. Earlier this year, AxiomSL was appointed by the French bank in New York for regulatory reporting to the Federal Reserve. This will be the third major French bank that has chosen AxiomSL as its preferred regulatory solutions provider globally.

AxiomSL's data agnostic enterprise data management platform empowers global financial institutions to tackle complex, mission-critical data integration, risk management and regulatory reporting challenges. The enterprise-wide approach enables firms to shift their focus from tactical level compliance to macro-level supervision. This will result in meaningful business insights that will facilitate senior management in making decisions that translates into commercial value and operational efficiencies. 

Peter Tierney, APAC CEO, AxiomSL said, "We are delighted to be expanding our relationship as the banks' preferred strategic enterprise data management partner. With cost cutting measures in place and firms coming under intense scrutiny by the regulators, there is an urgent need to rethink how regulatory reporting is conducted. Firms need to shift their regulatory reporting focus from a short term, tactical and compliance-date driven approach to a macro approach that looks at regulatory data management as a strategic function. In addition to regular reporting submissions to the regulator, firms must anticipate the supervisory questions and clarifications these submissions will inevitably generate. A flexible and modular regulatory data management solution is required that enables firms to meet shifting local and global regulatory and supervisory needs. As this new client has discovered, AxiomSL's data agnostic platform provides just this. We have seen positive growth in APAC and our recent senior appointments ensure that we continue to bring deep industry expertise to deliver the best regulatory solutions to our clients."

In order to service the expanding client base and support its growing footprint across APAC, AxiomSL announced two senior leadership appointments earlier this year: APAC CEO Peter Tierney and Country Manager for Australia Andrew Wood. AxiomSL established its APAC presence in 2010 and expanded its operations across Hong Kong, Singapore and Sydney. The platform has since been used by global systemically important banks (G-SIBs) in the region to comply with main regulatory requirements such as FATCA, CRS, IFRS 9, regional liquidity coverage ratio, shareholding disclosure and central bank reporting.

Press contacts:

Prisita Menon  

Josephine Chia

Cognito 

AxiomSL

AxiomSL.Asia@cognitomedia.com

jchia@axiomsl.com

+65 6221 7310

+65 3159 1055 Ext. 648

About AxiomSL:

AxiomSL is the leading global provider of regulatory reporting, data and risk management solutions for financial services firms, including banks, broker dealers, asset managers and insurance companies. Its unique enterprise data management (EDM) platform delivers data lineage, risk aggregation, analytics, workflow automation, validation and audit functionality.

The AxiomSL platform for change seamlessly integrates clients' source data from disparate systems and geographical locations without forcing data conversion. It enriches and validates the data, and runs it through risk and regulatory calculations to produce both internal and external reports. The platform supports disclosures in multiple formats, including XBRL. The unparalleled transparency offered by the high-performance platform gives users the ability to drill down on their data to any level of granularity.

AxiomSL's platform supports compliance with a wide range of global and local regulations, including the Dodd-Frank Act -- CCAR, Basel III capital and liquidity requirements, IFRS 9/CECL, FATCA/CRS, EMIR, FDSF, BCBS 239, Solvency II, AIFMD, central bank disclosures, and both market and credit risk management requirements. The enterprise-wide approach offered by AxiomSL enables clients to leverage their existing data and risk management infrastructure, and reduces implementation costs, time to market and complexity.

AxiomSL was awarded The Asian Banker's 2016 "Best Compliance Risk Technology Implementation of the Year" as well as "Best Implementation at a Sell-side Firm" for the second year running for the 2017 Sell-side Technology Awards. It was voted Best Reporting System Provider in the 2015 Waters Rankings and was highlighted as a 'Category Leader' by Chartis Research in its 2015 Sell-side Risk Management Technology report. The company's work has also been recognized through a number of other accolades, including success in the Best Reporting Initiative category of the American Financial Technology Awards and in the Customer Satisfaction section of the Chartis RiskTech100 rankings.

www.axiomsl.com

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