VP Bank picks AxiomSL for reg reporting compliance
17 September 2020 Frankfurt
Image: makasana photo / Adobestock.com
VP Bank in Liechtenstein chooses AxiomSL, a provider of regulatory reporting and risk management solutions, to handle its risk and regulatory compliance across Liechtenstein, Luxembourg, Singapore and Switzerland.
AxiomSL has been tapped by VP Bank, one of the largest banks in Liechtenstein, to leverage its regulatory reporting and risk management solutions.
Through the deal, AxiomSL will provide access to its ControllerView data integrity and control platform to act as the cornerstone of the bank鈥檚 regulatory compliance for its activities across Liechtenstein, Luxembourg, Singapore and Switzerland.
According to AxiomSL, its platform offers an array of risk and regulatory mandates on a single platform, with full transparency across all processes from ingestion, calculation, reconciliation, and validation to submission.
VP Bank says it will use the platform strategically to further data harmonisation, streamline processes, enhance automation, bolster internal controls, and strengthen risk and regulatory reporting across the enterprise.
With the upcoming Basel IV-driven expansion, financial institutions like VP Bank are faced with the next generation of capital requirements that can easily overwhelm systems if they lack the data transparency, proper methodologies and controls to perform calculations accurately across all risk types.
With the addition of VP Bank, AxiomSL has a client base of more than $43 trillion in total assets and investment managers with more than $11 trillion in assets under management.
Robert Kilga, head of group financial management and reporting at VP Bank, says: 鈥淲ith AxiomSL鈥檚 single platform, we can ingest data in its native format from multiple sources thus creating synergies between capital, liquidity, and other business functions enterprise-wide.鈥�
鈥淲e are thrilled that VP Bank has joined our esteemed user community in the DACH region and globally,鈥� comments Claudia Thurner, AxiomSL鈥檚 general manager for Europe, the Middle East and Africa.
鈥淚n these times of global uncertainty, complying with a wide range of regulatory and risk requirements across jurisdictions is more complex, data intensive, and time sensitive than ever.鈥�
鈥淥ur industry and technical expertise will enable VP Bank to streamline their processes, scale faster, and adapt swiftly and confidently to change. We look forward to a strong and strategic collaboration with VP Bank in support of their vision and growth journey,鈥� Thurner adds.
AxiomSL has been tapped by VP Bank, one of the largest banks in Liechtenstein, to leverage its regulatory reporting and risk management solutions.
Through the deal, AxiomSL will provide access to its ControllerView data integrity and control platform to act as the cornerstone of the bank鈥檚 regulatory compliance for its activities across Liechtenstein, Luxembourg, Singapore and Switzerland.
According to AxiomSL, its platform offers an array of risk and regulatory mandates on a single platform, with full transparency across all processes from ingestion, calculation, reconciliation, and validation to submission.
VP Bank says it will use the platform strategically to further data harmonisation, streamline processes, enhance automation, bolster internal controls, and strengthen risk and regulatory reporting across the enterprise.
With the upcoming Basel IV-driven expansion, financial institutions like VP Bank are faced with the next generation of capital requirements that can easily overwhelm systems if they lack the data transparency, proper methodologies and controls to perform calculations accurately across all risk types.
With the addition of VP Bank, AxiomSL has a client base of more than $43 trillion in total assets and investment managers with more than $11 trillion in assets under management.
Robert Kilga, head of group financial management and reporting at VP Bank, says: 鈥淲ith AxiomSL鈥檚 single platform, we can ingest data in its native format from multiple sources thus creating synergies between capital, liquidity, and other business functions enterprise-wide.鈥�
鈥淲e are thrilled that VP Bank has joined our esteemed user community in the DACH region and globally,鈥� comments Claudia Thurner, AxiomSL鈥檚 general manager for Europe, the Middle East and Africa.
鈥淚n these times of global uncertainty, complying with a wide range of regulatory and risk requirements across jurisdictions is more complex, data intensive, and time sensitive than ever.鈥�
鈥淥ur industry and technical expertise will enable VP Bank to streamline their processes, scale faster, and adapt swiftly and confidently to change. We look forward to a strong and strategic collaboration with VP Bank in support of their vision and growth journey,鈥� Thurner adds.
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