AxiomSL, a provider of regulatory reporting and risk management solutions, has revealed that a major Swiss private bank has decided to extend the deployment of AxiomSL’s platform to include reporting to the Central Bank of Ireland, including new monetary and interest rate disclosures mandated by the European Central Bank (ECB).
AxiomSL claims that its platform will help the Swiss private bank to automate other reporting to the Central Bank of Ireland, including the preparation and submission of Resident Offices Returns (RS2), Survey of Credit Institutions Returns (CRS2), Maturity and Sectoral Returns (MTS), Revaluation Adjustment Returns (RV2), Reclassification Adjustments Returns (RC2) and Analysis of Lending and Deposits Returns (SQ2).
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AxiomSL added that its platform supports traditional and taxonomy-based reporting requirements in multiple jurisdictions.
AxiomSL chief operating officer for EMEA Ed Royan said: "We are very pleased this longstanding client has decided to use our platform in yet another jurisdiction. We view the decision as an endorsement of our technology and client services.
"There is no let-up in the pace of regulatory change across the globe. We are seeing strong demand for an infrastructure that simplifies the management of regulatory reporting. AxiomSL delivers this by providing a single platform that can be used for multiple requirements – including both traditional and taxonomy-based reporting – and by ensuring clients always have up-to-date templates."
The Swiss private bank, which has been using AxiomSL for almost a decade, first implemented the AxiomSL platform in the UK for reporting to the Bank of England and Financial Services Authority.
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By GlobalDataFollowing the success of this project, the bank decided to also deploy the AxiomSL platform in the US and then in Asia-Pacific.
The bank also leverages AxiomSL for headquarters reporting in Switzerland, according to AxiomSL.
