AxiomSL and Integration Alpha Offer Regulatory Reporting Solution
Posted: 23 March 2017 | Source: AxiomSL
AxiomSL, global leader in risk management and regulatory compliance, and Integration Alpha have launched a unique, flexible and cost-efficient Managed Services solution across Germany, Austria and Switzerland, in a FINMA compliant cloud for Tier 2 and 3 financial service firms. The increasingly complex compliance and regulatory requirements are putting great pressure on organisations, particularly those of small and medium sizes, resulting in huge costs and no competitive advantage in client-facing business.
The current FINMA circular 2017/1 requires all banks to substantially integrate all of their reporting streams and thus, underlines the importance of an integrated solution for end-to-end regulatory data management. Entering into a strategic partnership, AxiomSL and Integration Alpha now offer end-to-end Managed Services for risk and regulatory reporting. AxiomSL’s flexible data driven platform, equipped with visual business rules that allow firms to aggregate, analyse and reconcile heterogeneous data sets quickly across business functions, combined with Integration Alpha’s depth of knowledge in building standardised, automated cloud platforms has resulted in the new cloud-based service. This combined offering brings together state of the art technology, implementation, and execution of the reporting function into one integrated solution, which reduces operational costs and achieves a more efficient time-to-market.
The jointly developed solution supports compliance with both national and international requirements across Germany, Austria, and Switzerland (Central Bank Reporting, Basel III, Liquidity Reporting, BCBS 239, Solvency II, etc.) at a lower and more predictable cost. Future requirements from new regulatory provisions will be offered and implemented to all clients as part of the service, a key benefit of the solution. Financial institutions can therefore fully allocate their resources to strategic growth, knowing that their regulatory needs are being met by the combined offering of AxiomSL and Integration Alpha.
Ed Royan, Chief Executive, AxiomSL, EMEA said “Financial institutions must be able to react to changing regulatory requirements swiftly and with a high degree of flexibility. In the process, costs must be monitored and kept at a minimum, risk exposure should be fully transparent across the enterprise, and data governance and compliance cannot be compromised. Our joint offering with Integration Alpha takes into consideration all of these factors while providing a smart and robust solution in a fully controlled and secured production environment”.
“With the joint offering of AxiomSL’s solution and our expertise in data management expertise, process automation and BPO, we are providing the industry with a convincing remedy for the increasing complexity and cost of regulations. We deliver “Swiss Made” quality in a FINMA compliant cloud”, said Marco Selva, CEO, Integration Alpha.