Fifth Third Bank opts for AxiomSL’s regulatory reporting platform
Fifth Third Bank, a US-based commercial lender, has selected AxiomSL platform to meet its analytical and regulatory reporting needs.
The AxiomSL platform will cover regulations including the US Liquidity calculations (LCR), CCAR requirements and other required Federal Reserve reporting.
Besides allowing banks to meet their analytical and regulatory reporting obligations, the platform will also enable them to manage their risk exposure across all business functions.
The technology vendor said that the bank’s selection of its platform were mainly driven by its capabilities of gathering, aggregating, enriching, validating and processing large amounts of data across multiple systems at any level of granularity.
Fifth Third Bank vice president and director of external reporting Blane Scarberry said: “Our decision to build a relationship with AxiomSL is due, in large part, to our interest in keeping pace with the complexity of today’s regulatory environment and in maintaining cost-effectiveness across all operations.
“AxiomSL’s integrated platform is expected to enable us to meet financial and regulatory requirements, while also streamlining our reporting processes across critical business functions. This should provide us with the flexibility to meet evolving regulatory demands.”
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