AxiomSL Delivers Basel-Driven Capital Calculations and Regulatory Reporting on a Single Platform in Canada
— Ed Probst, Chief Product Officer, AxiomSL
TORONTO, ONTARIO, CANADA, April 29, 2021 /EINPresswire.com/ — AxiomSL, the industry’s leading provider of risk and regulatory reporting solutions, today announced an agreement with two leading Canadian banks to implement AxiomSL’s automated reporting solutions to Basel-driven capital calculations and regulatory reporting requirements for the Office of the Superintendent of Financial Institutions in Canada (OSFI), Statistics Canada and the Bank of Canada.
Federally regulated financial institutions in Canada must comply with a complex and ever-changing set of capital and liquidity reporting requirements, including Basel Capital Adequacy Reporting (BCAR), New Credit Risk Reporting (NCR) and Basel leverage ratio framework disclosures, along with a range of statutory and regulatory reports for OSFI, Bank of Canada and Statistics Canada. By selecting AxiomSL, these major Canadian banking institutions will be able to seamlessly access information from multiple data sources across their institutions, run complex calculations and automate the reporting process.
“We’re honored to be working with the leading Canadian banks and to set the standard in Basel-driven capital calculations and regulatory reporting,” said Ed Probst, Chief Product Officer at AxiomSL. “By leveraging our industry leading data management capabilities, robust business rules and calculation engines, we are able to provide a fully integrated, end-to-end solution that is truly unique in the market. Our clients will benefit from streamlining data flows, process controls, calculations, analytics and regulatory reporting all in one application. The time saved on building and maintaining extract, transform and load (ETL) processes, reconciliations and customized tools can be reinvested into analysis and driving better business decisions. At the same time, our continued investments into technology and our ongoing commitment to ensure consistent, high quality updates worldwide provide our clients with the assurance that they will be able to not only streamline compliance today, but also future-proof themselves against what tomorrow may bring.”
AxiomSL’s automated Canadian Basel Calculation and Reporting Solution is built on the AxiomSL
ControllerView® data integrity and control platform. ControllerView enables institutions to add source data, enrich that data to Basel-driven requirements, and perform regulatory calculations, reporting, and submission on a single platform. This data-driven technology replaces cumbersome legacy processes that required time consuming…