TCV Invests in AxiomSL

TCV Invests in AxiomSL
06.07.2017 08:30 am

TCV Invests in AxiomSL

Data

AxiomSL, the global leader for risk data management and regulatory reporting technology for the financial services industry, today announced that growth equity firm TCV has made a strategic investment in the company. 

This investment represents AxiomSL’s first institutional financing, having bootstrapped to scale since its founding in 1991. TCV’s investment will enable the company to accelerate growth and cement its position as the financial industry standard for risk and regulatory compliance data management. As part of the investment, the AxiomSL board of directors will benefit from the expertise of Rick Kimball, Founding General Partner at TCV, and Nari Ansari, Principal at TCV.

“We selected TCV as our first institutional investment partner given their experience in helping financial technology companies achieve their mid- to long-term growth and strategic objectives,” said Alexander Tsigutkin, Group CEO of AxiomSL. “Partnering with TCV will allow AxiomSL to continue our mission of empowering firms to address increasingly complex, granular, and data-intensive regulatory regimes and requirements.”

“Over more than 25 years, AxiomSL has achieved clear market leadership for global risk and compliance data management technology in the financial services industry,” said Rick Kimball, Founding General Partner at TCV. “We are excited to partner with Alex and the AxiomSL management team in their next phase of growth.”

AxiomSL’s risk data management and regulatory reporting platform provides complete control over every step of the compliance process. Its cutting-edge data and process management capability allows for traceability, transparency and greater clarity about -a company’s financial position by delivering full data lineage throughout the entire process, from data sourcing to disclosure management. Its enterprise-wide and lines of business coverage meet expanding regulatory compliance mandates such as BCBS239. AxiomSL’s visual business rules can be easily understood by users who do not have specialist-coding knowledge, allowing clients to invest their full trust in the automation of complex workflows, reporting, business logic and analytics, data quality, governance and control within tight timeframes. Armed with these tools, firms can reduce operational risks and costs, achieve greater time-to-market and confidently navigate the complicated Governance, Risks and Compliance (GRC) landscape.  

Risk technology research firm Chartis estimates that financial institutions spent more than $70 billion in 2016 on risk and compliance IT software and services. This sector is growing rapidly as enterprises look for technology that can help them quickly make critical business decisions and adapt to constantly changing business and regulatory environments, all while continuing to contain costs. Since its inception, AxiomSL has been leading the industry in providing enterprise-wide data and risk management solutions for clients around the world, including Basel Capital, Liquidity, CCAR & BCAR, FRTB, MiFID II, BCBS 239, Global Shareholding Disclosures, FATCA/CRS, AIMFD, COREP/FINREP, and more. 

Related News

Data-driven Business Operations are a Multi-year Plan for Two-thirds of Finance Professionals

Data-driven business operations are a multi-year plan for two-thirds of finance professionals (66%). Only 7% think their own organisation is already data-driven, while 14%... Read more »

Salt Edge’s data aggregation helps Zeeco calculate carbon emissions

Zeeco, a New Zealand fintech, teamed up with Salt Edge, a leader in offering open banking solutions, to access users’ bank data and automate... Read more »

High-speed, high-volume data transfer facilitated by 5G will enhance industrial operations in connected factories

Frost & Sullivan’s recent analysis, Role of 5G Communication Revolutionising Industrial Internet of Things, finds that the... Read more »

Forecast by Robocash Group: 5G will boost financial inclusion in emerging markets in Asia

Driving improvements in the digital space, 5G has accelerated financial inclusion in emerging markets in Asia. Analysts of the financial holding ... Read more »

Xignite sees record demand for financial data during pandemic

Xignite, Inc., a provider of market data distribution and management solutions for financial services and technology... Read more »

D-ID Secures Over $13.5 Million to Protect Against Mass Surveillance

The software platform that removes key biometric data from photos and videos continues to protect industries and individuals

Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel