An American global systemically important bank (G-SIB) has implemented AxiomSL’s platform in Germany, France and the United Kingdom (UK).
The bank will use the AxiomSL platform to assist reporting of the liquidity coverage ratio (LCR), net stable funding ratio (NSFR) and additional liquidity monitoring metrics (ALMM) components of the Capital Requirements Directive IV (CRD IV) in Germany, France and the UK.
Also, the bank has chosen AxiomSL platform to produce the LCR in Germany, France and the UK on a daily basis, at both the consolidated and entity level.
The move follows an implementation project that involved integrating more than 20 data sources in three months.
Furthermore, the bank has selected AxiomSL to comply with a range of regulatory reporting requirements in Switzerland, where it will be used for liquidity, capital and statistical reporting.
AxiomSL provides a single platform that can be used for all regulatory calculation and reporting requirements globally.
This implementation is expected to allow the G-SIB to further contain the cost of regulatory compliance in Europe.
AxiomSL COO EMEA Ed Royan said: "This large American bank has been an AxiomSL client in the US and Singapore for some time, so we are delighted that they have chosen to expand their relationship with us in Europe.
"The harmonization of regulatory requirements in the EU presents great opportunities for banks to streamline their approach to compliance. The success of this LCR project in Germany, France and the UK demonstrates how banks can use our platform to seize these opportunities. We will be doing similar work for other clients over the coming months."