AxiomSL, an award winning global provider of regulatory reporting and risk management solutions, announced today that it will further strengthen its client service in the Middle East with the opening of an office in the Dubai International Financial Centre.

The new office has been created in response to the evolving regulatory environment across the Middle East and Africa with the introduction of IFRS 9, FATCA/CRS and ongoing pressure from regulatory and financial reporting regimes, such as CBUAE/DFSA, SAMA, QCB, FSB (SA) and many more.

AxiomSL provides calculation, data management and regulatory reporting solutions for eight of the top ten largest institutions in the world by market capitalization.

The new Dubai office will enable AxiomSL to respond more flexibly to its clients at headquarters in the UAE and across the Middle East/Africa region. It will also allow clients in the area to access AxiomSL’s wealth of experience and expertise in other financial hubs across the world.

“We regularly review our global structure to ensure that we are able to serve our clients wherever they need our services,” said Ed Royan, Chief Operating Officer, EMEA, AxiomSL. “The timing is right for an office launch in Dubai as we are seeing growth opportunities in the region, building on our 25 year track record of assisting top tier banks efficiently manage their calculations and regulatory reporting.”

Tariq Hajwane, Head of Business Development for MEA said, “I am delighted to have the opportunity to be part of an exciting new chapter in AxiomSL’s ongoing development. We look forward to bringing AxiomSL’s global experience to support financial institutions across the Middle East, to address current and ongoing regulatory requirements and support those banks with a global presence who are subject to multi-jurisdiction reporting requirements.”

AxiomSL employs over 600 staff globally that are dedicated to servicing clients across many of the world’s major financial centers, including New York, São Paulo, London, Paris, Brussels, Luxembourg, Frankfurt, Amsterdam, Singapore, Beijing, Hong Kong and Tokyo.

AxiomSL was awarded The Asian Banker’s 2016 ‘Best Compliance Risk Technology Implementation of the Year’ as well as ‘Best Implementation at a Sell-Side Firm’ in the 2016 Sell-Side Technology Awards. It was voted Best Reporting System Provider in the 2015 Waters Rankings and has been highlighted as a “Category Leader” in the 2016 Chartis FinTech Quadrant for Data Integrity and Control Solutions. The company’s work has also been recognized through a number of other accolades, including success in the ‘Best Reporting Initiative’ category of the American Financial Technology Awards and in the Customer Satisfaction section of the Chartis RiskTech100 rankings.