AxiomSL, the leading global provider of regulatory reporting and risk management solutions, announced today that FirstRand Bank Limited (London Branch) has gone live on its solution for the production and submission of the statistical reports required by the Bank of England (BOE).
AxiomSL’s solution has been recognized by the BOE since 2004. It supports all aspects of reporting to the regulator, from the aggregation and cleansing of data to the population of templates and submission of completed reports via the Online Statistical Collection Application (OSCA).
AxiomSL provides all of the required report templates and updates them when they are changed by the BOE. AxiomSL released the 2016 BOE report changes before the end of 2015 – months in advance of their implementation.
The BOE solution is built on the same platform as all of AxiomSL’s other regulatory solutions. This gives financial firms a unique opportunity to use a single platform to comply with multiple regulatory requirements. To minimize the impact on clients, regulatory-specific updates are segregated from updates to the core platform functionality.