Axiomsl’s Platform Selected by Banco Sabadell for Deployment in Barcelona

Axiomsl’s Platform Selected by Banco Sabadell for Deployment in Barcelona
13.03.2017 12:45 pm

Axiomsl’s Platform Selected by Banco Sabadell for Deployment in Barcelona

Risk Management

AxiomSL, the leading global provider of regulatory reporting and risk management solutions, announced today that Banco Sabadell has chosen AxiomSL’s strategic platform to automate its regulatory reporting.

The platform will be implemented at Banco Sabadell’s headquarters in Barcelona and is the bank’s second project with AxiomSL, having also used AxiomSL for its UK arm, TSB. 

Banco Sabadell will use the platform, which boasts native XBRL functionality, for reporting to the relevant national regulator and supervisor. The coverage will include Common Reporting (COREP), Financial Reporting (FINREP), Liquidity Coverage Ratio (LCR), Net Stable Funding Ratio (NSFR), Asset Encumbrance (AE) regulatory requirements as well as all local central bank reporting. 

AxiomSL will support all of the report templates required by Banco Sabadell and the latest versions of the EBA’s XBRL taxonomy. When these are changed by the regulator, AxiomSL releases updated versions within a month. This unrivalled delivery time was an important factor in Banco Sabadell’s decision to choose AxiomSL.

National and European reporting requirements continue to change frequently. By working with AxiomSL, Banco Sabadell will always have access to the most up-to-date report templates and will have ample time to test them before the submission deadlines. The flexibility and time to market offered by AxiomSL make its platform very attractive. 

With AxiomSL, firms do not need to use an Extract, Transform, Load (ETL) integration layer to convert their data in to a specific format before loading it onto the platform. Instead, they can load their data in its existing format. This increases time to market and transparency, and reduces total cost of ownership.

“We are very pleased to have been selected by Banco Sabadell. We have many years of experience in EBA reporting and are confident that we will continue to deliver excellent results on this project,” said Ed Royan, Chief Executive, EMEA, AxiomSL. “Ongoing changes to reporting requirements continue to create challenges for financial firms. The way in which we are able to separate our regulatory update releases from our software releases enables us to deliver new report templates quickly, making sure our clients remain compliant. We look forward to developing our relationship with Banco Sabadell over the coming years.”

Related News

iPaytotal launches complete banking and payment solutions for high risk businesses

iPayTotal is very proud to introduce its Tier 3 Package to all clients, including but not limited to Company Registration, Registered/Virtual Office Address, Global IBAN/SWIFT... Read more »

West African Development Bank (BOAD) selects Wolters Kluwer’s OneSumX Software to manage risk

West African Development Bank (BOAD) has selected Wolters Kluwer’s OneSumX... Read more »

Eventus Systems wins Best Trade Surveillance Solution for Dodd-Frank Act at 2020 RegTech Insight Awards

Eventus Systems, Inc., a leading global trade surveillance and risk management software... Read more »

Wolters Kluwer Continues PPP Educational Series With Loan Forgiveness Webinar

Wolters Kluwer Compliance Solutions is continuing to prove its industry leadership,... Read more »

Refinitiv survey exposes severe lack of due diligence on business supply chains

Refinitiv, one of the world’s largest providers of financial markets data and infrastructure, has published the findings of its fourth third-party risk survey. The report... Read more »

Wolters Kluwer develops TSoftPlus Technology for loan forgiveness stage of U.S. Paycheck Protection Program

Wolters Kluwer Compliance Solutions is set to help local lenders and their small... 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