RiskTech Forum

PNC Selects AxiomSL for Regulatory Reporting

Posted: 4 May 2016  |  Source: AxiomSL

 AxiomSL, the global provider of regulatory reporting and risk management solutions, announced today that PNC, one of the largest banks in the United States, will deploy the AxiomSL platform to meet the regulatory reporting requirements such as FR Y9c, 14 M/Q and 5G/2052a across the U.S., Canada and the Bahamas.

AxiomSL was selected by PNC to be its strategic regulatory reporting solution provider. AxiomSL’s enterprise-wide integrated solution consolidates data across multiple entities, enabling PNC to streamline reporting processes, improve data accuracy, and provide greater transparency and traceability. AxiomSL’s platform will enable the firm to achieve complete automation in managing increased analytical and reporting requirements within the stringent timelines set by regional and global mandates.

“We are proud to have been chosen by PNC, a leading and well-respected bank,” said Alex Tsigutkin, CEO at AxiomSL. “AxiomSL’s advanced offering will enable PNC to automate complex analytical and regulatory process, as well as full data and process governance. AxiomSL’s capability to drill down into the data makes it a powerful tool, which, paired with the flexibility of its risk calculation engine, enables financial firms to meet mandates across multiple regulators and jurisdictions. The inherent flexibility of the platform allows financial firms to keep pace with the regulatory changes while containing costs.”

AxiomSL provides a centralized and comprehensive analytical and regulatory platform that provides a scalable, auditable and high-performance framework and can be used to tackle the multi-jurisdictional and multi-faceted requirements of financial institutions. This holistic approach gives firms full control of the entire process for risk management and finance functions, data aggregation capabilities, automation of complex analytical and reporting business logic and internal and external reporting.