the leading global provider of regulatory-reporting, risk and
data-management solutions, today announced it has been recognized in the
Technology Awards. Two of AxiomSL’s solutions that address IFRS 9
and Basel III requirements were honored in the “IFRS 9 Enterprise
Solution of the Year” and “Regulatory Capital Calculation Product of the
Year” categories, respectively.
“We’re thrilled to receive two Risk Technology Awards,” said Alex
Tsigutkin, CEO and Founder of AxiomSL. “Our team is dedicated to
creating innovative solutions that empower financial firms to comply
with today’s most complex mandates, including IFRS 9 and Regulatory
Capital Calculation – Basel III. These two solutions deliver the
scalability enterprises need to operate on large volumes of data sets,
leveraging source data and processes across siloes to deliver trusted
regulatory-capital and risk management calculations.”
Enterprise Solution of the Year: IFRS 9
AxiomSL received the “Enterprise Solution of the Year” award for its
ability to enable financial institutions (FIs) to comply with
International Financial Reporting Standard 9 (IFRS 9). In the past,
large banks operated myriad credit-risk models and credit-impairment
frameworks, typically running chains of Excel-type models to calculate
them. However, because attaining IFRS 9 compliance requires much more
complex analytics and methodologies than past regulations, organizations
have had to shift from a passive annual credit-review regime to active
AxiomSL equips FIs with the tools to navigate this cultural sea change
by providing a one-platform, industrial-strength risk-calculation engine
and end-to-end solution for IFRS 9. First, AxiomSL gathers all
disparate, diverse credit data and artifacts into one credit ecosystem,
housed in a single environment. Using a set of visual business rules to
automate an end-to-end process, the solution enables clients to tackle
the problem step-by-step, progressively industrializing IFRS 9
compliance throughout the enterprise.
The robust controlled environment offered by AxiomSL’s IFRS 9 solution
creates a collaborative landscape in which both Finance and Risk can
share data with a feeling of trusted mutual ownership. The solution
seamlessly integrates with clients’ existing architecture and provides
unparalleled transparency and visibility into the entire process.
Regulatory Capital Calculation Product of the Year: Basel III
Also, the Risk Technology Awards recognized AxiomSL’s solution for Basel
III compliance as the “Regulatory Capital Calculation Product of the
Year.” Basel III requires FIs to maintain greater capital coverage
commensurate with risk exposures and hold more liquid assets to
safeguard solvency and overall financial stability. To uphold
compliance, FIs must calculate capital ratios, including risk-weighted
assets (RWA), that can easily overwhelm existing legacy systems.
AxiomSL’s Basel III solution fully automates the process of calculating
RWA and delivering it correctly into multiple regulatory filings. The
solution’s data dictionary maps the client’s data into the proper asset
classifications, while its regulatory calculation engine produces not
only RWA results, but also corresponding inputs to enhance auditability.
The solution then inserts the RWA calculation into the required set of
filings at the correct line items.
“Our flagship data-driven platform and array of solutions, including our
IFRS 9 and regulatory capital calculation products, empower financial
firms to meet regulatory reporting mandates, as well as gain greater
insight of their risk exposures,” Tsigutkin added. “We’re always pleased
to have our work validated by experts outside our organization.”
The Risk Technology Awards are hosted by Risk.net, a leading provider of
news, analysis, research and events for practitioners and regulators in
the finance and energy industries. The awards recognize top vendor
solutions for credit, operational and enterprise-wide risk management.
Winners were determined by a judging panel consisting of technology
users and the editors of Risk.net.
AxiomSL is the leading global provider of regulatory-reporting, risk and
data-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
traceability. For more information, visit www.axiomsl.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180619005085/en/