American lender PNC Financial Services has tapped AxiomSL’s platform to meet regulatory and risk management requirements.
The bank will use the solution for its regulatory reporting needs in the domestic market, plus Canada and the Bahamas.
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AxiomSL said that its integrated solution consolidates data across multiple entities, which will enable the lender to streamline reporting processes and enhance data accuracy.
It will also enable the lender to automate its compliance with increased analytical and reporting requirements within the stringent timelines set by regional and global mandates, the company added.
AxiomSL CEO Alex Tsigutkin said: "AxiomSL’s advanced offering will enable PNC to automate complex analytical and regulatory processes, as well as providing full data and process governance.
"AxiomSL’s ability to drill down into the data makes it a powerful tool which, paired with the flexibility of its risk calculation engine, enables financial firms to meet mandates across multiple regulators and jurisdictions.
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By GlobalData"The inherent flexibility of the platform allows financial firms to keep pace with regulatory change while containing costs," Tsigutkin added.
