Regulatory reporting and risk management solutions provider AxiomSL has joined Temenos MarketPlace, which connects banks with fintechs.

The addition will enable Temenos customer to access AxiomSL’s risk capital and regulatory reporting solutions running on ControllerView platform.

They can leverage AxiomSL offerings to improve efficiency ratios, optimise risk and regulatory reporting programmes and adapt to necessary changes.

Temenos risk, treasury and financial crime mitigation product director Adam Gable said: “With a standardised connection from Temenos to AxiomSL, our clients will be able to more fully utilise their data, eliminate exposure to monitoring and implementing myriad regulatory changes, and gain confidence in their reporting.

“This will simplify reporting obligations, reduce cost, and by leveraging Temenos’ risk and regulatory data-set, which is delivered on Temenos Data Lake, result in our clients being able to adapt quickly to future requirements.”

AxiomSL founder and CEO Alex Tsigutkin said: “Regulatory compliance requires banks to corral and manage vast amounts of diverse data and meet complex analytical and reporting requirements across many regulators and countries.

“We are working toward a cohesive solution where banks will be better equipped to maximise the value of their risk and regulatory data, transparently satisfy regulatory obligations, and reduce the total cost of their data management and risk and regulatory programs.

“This collaboration will enable our clients to gain advantage from both companies’ innovative technologies.”

Temenos, based in Switzerland, develops banking software solutions. This year, several financial institutions approached the firm to improve their banking services.

It includes Canada’s CWB Financial Group, Egyptian National Post Organisation, Consolidated Bank Ghana and Danish challenger bank Lunar.