First Commonwealth Bank in the US is set to implement Kaufman Hall’s Axiom Financial Institutions suite to gain deeper understanding of its financial performance.
The Axiom software will be used to support the bank’s financial reporting, planning, and forecasting requirements. Additionally, it will be used to support the bank’s profitability analysis needs.
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The software suite is designed to enhance financial processes. It will help the banks to receive deeper financial insights, reduce risks and better equip for the future.
Axiom Financial Institutions suite provides solutions for driver-based budgeting, planning, and forecasting. It also enables financial and operational reporting and dashboards, accurate funds transfer pricing and profitability analysis on a single platform.
First Commonwealth Bank senior vice-president of finance Frank Zink said: “Fundamental changes in the financial industry have put greater pressure on institutions like ours to understand what drives profitability and forecast our short- and long-term performance more effectively.
“In evaluating potential partners, we focused on solutions that could support both our overall strategic plan and operational requirements.
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By GlobalData“With Axiom, we gain not only a powerful, enterprise-level system but also a partner and user community focused on innovation and best practices to improve financial performance.”
Kaufman Hall vice-president of financial institutions software Ken Levey said: “Our clients count on the Axiom team to deliver innovative solutions and proven methodologies that drive operational efficiencies, improved profitability and better strategic investments.
“We are happy to welcome First Commonwealth Bank to the growing roster of institutions who put their trust in Axiom and look forward to helping them achieve and exceed their financial goals.”
First Commonwealth Bank is a wholly-owned subsidiary of First Commonwealth Financial with around $8bn in total assets. It has 135 branches in Pennsylvania and Ohio.
