U.S. Bank has selected AxiomSL’s regulatory reporting platform to comply with changing regulatory mandates.
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AxiomXL said that its data-driven platform will help the bank comply with various regulations, including U.S. Liquidity Coverage Ratio (LCR) reporting, Comprehensive Capital Analysis and Review (CCAR) reporting, as well as other required mandates.
Owing to the platform’s capacity to consolidate data across multiple entities, the bank can now streamline reporting and calculations, improve data accuracy, offer greater transparency and traceability across its systems, and meet regional and global timelines, the technology vendor said.
The platform facilitates regulatory calculations and reporting, which seamlessly integrates to clients’ existing infrastructure, scales to address massive amount of disparate data, enhances automation, and reduces compliance cost.
AxiomSL CEO Alex Tsigutkin said: "Today’s systems must meet an ever-increasing set of granular, complex and evolving regulatory requirements while integrating large volumes of heterogeneous data across the enterprise.
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By GlobalData"These requirements highlight the increased need for unified source data and data process automation, full transparency and data lineage, ensuring executives have the ability to make rapid and frequent changes to comply with these regulatory requirements and enhance information oversight."
