AxiomSL, the leading global provider of regulatory reporting, risk and data management solutions, today announced it is a recipient of the 2017 RegTech Awards for “Most Innovative Use of a Vendor Solution to Address a Dodd-Frank Requirement.” This is the inaugural year for the RegTech Awards, which are hosted by the A-Team Group of Data Management Review.   

AxiomSL’s platform for governance, risk and compliance provides data and process lineage, data enrichment and automated workflow capabilities, and it delivers the analytics, reconciliation and validation required to face a variety of regulatory mandates. AxiomSL’s data and process-driven technology allows firms to leverage their existing data and risk management infrastructure, which reduces operational and implementation costs and achieves faster time to market. With this strategic platform, firms can quickly adapt to continuous changes in regulations, risk, finance and compliance to meet layers of complexity when aggregating risk data for capital adequacy, liquidity calculations and disclosure requirements across regional and global mandates.

“We are thrilled to receive this recognition for our innovative work in addressing Dodd-Frank requirements from the A-Team Group at Data Management Review,” said AxiomSL CEO Alex Tsigutkin. “Today, regulatory bodies closely examine financial institutions’ compliance processes and governance, and they demand executives attest to the integrity of their data. As a result, C-Suite executives need to find a reliable way to move their firms to a data governance strategic advantage in a cost-effective and sustainable manner. AxiomSL’s data lineage tool can act as your GPS navigation system to establish data governance processes. A data governance approach will drive business growth and make operations more optimal and profitable.”

To address constantly evolving regulatory challenges and rising global and regional standards around data governance, Financial Institutions (FIs) have been evaluating and implementing data lineage tools. However, getting data lineage right is challenging work. Some of it is incomplete and when it is available, it is often dispersed. And even when it is effectively funneled to one place, many systems are not designed to handle or interact with highly complex and granular regulatory reports, which results in limitations in scaling data lineage projects.

To address these challenges and comply with rising global/regional standards around data governance, banks can implement AxiomSL’s data lineage solution, which includes:

• Automated out-of-the-box data lineage for reporting solutions, and a balance of drill-down and traceability, documentation and filtering capabilities.
• Data Tracer, allowing users to track the data flow of financial instruments from the initial source to final report. 
• Visualization capabilities addressing business and technology needs. Outputs include graphical, narrative (pdf), XML file and others, allowing users to design their specific requests/purposes.
• The ability for users to respond quickly to inquiries related to numbers in regulatory reports, freeing up highly skilled analysts who can be used for data analysis instead of preparing reports.
• The capability to track data from a bottom-up perspective, or from the top-down starting with the end-product report and examining the business logic.

The inaugural RegTech Awards have been designed to acknowledge those vendors who are creatively finding innovative solutions to regulatory challenges. RegTech invited members of the Data Management Review & Intelligent Trading Technology communities, who have experience using these solutions, to cast their vote for the suppliers they consider the best performers across a range of categories.