HANOI, Vietnam, May 11, 2016 /PRNewswire/ -- Credit Suisse & AxiomSL have been named joint winners for the Compliance Risk Technology Implementation of the Year award for 2016 during The Asian Banker Risk Management Awards Programme. The programme was administered by The Asian Banker under its prestigious annual Business Achievement Awards programme. The winners received the accolade at the awards ceremony held in conjunction with The Asian Banker Summit 2016, the foremost annual meeting for decision makers in the financial services industry in the Asia Pacific region, at the JW Marriott Hotel Hanoi on 11th May 2016.
Credit Suisse extended its strategic partnership with AxiomSL through the introduction of the Liquidity Coverage Ratio (LCR) liquidity reporting programme at a time when AxiomSL already had an established footprint in the bank's capital reporting space. AxiomSL was selected to implement the bank's strategic liquidity risk monitoring and forecasting solution given its scalable and transparent platform capabilities, seamless data integration across multiple business functions and jurisdictions as well as analytical prowess necessary in meeting regional and global regulatory standards and reporting requirements. This holistic approach enables financial firms to not only meet analytical, risk and regulatory reporting obligations, but also reduce operational costs and achieve a faster time to market.
The adoption of AxiomSL's enterprise-wide platform brought about unprecedented risk data aggregation and reporting capabilities with workflow automation and audit functionality for Credit Suisse. The 90-day LCR forecasting feature based on variable time intervals was pioneered by AxiomSL in the market and proved to be instrumental for Finance, IT and Treasury in providing a singular view for retrospective and prospective management of liquidity risk. The use of AxiomSL's collaborative integration platform further facilitated in unifying the business and IT teams by bridging the differences in terminologies and methodologies.
AxiomSL's liquidity risk reporting solution was housed in a single platform together with existing Financial, Operational and Capital regulatory reports without disrupting the bank's existing operating models and infrastructure. Design challenges and stringent timeframes were overcome as part of laying a sound foundation for liquidity reporting at Credit Suisse. This enabled the AxiomSL liquidity program for Credit Suisse to be completed in nine months across three countries, one of which was delivered five months ahead of the stipulated regulatory deadline.
The awards programme, administered by the Asian Banker is Asia's most important annual risk event featuring leading practitioners from a cross-section of banks and global regulators on a number of critical areas affecting the banking industry. A stringent three-month evaluation process based on a balanced and transparent scorecard had been used to determine the winners.
Press contact:
| Cognito |
AxiomSL |
| Prisita Menon / Mariko Braswell |
Josephine Chia |
| +65-6221-7310 |
+65-8717-2650 |
|
The Asian Banker |
| Ms Gladys Tan |
| +65-6236-6174 |
About The Asian Banker
The Asian Banker is the region's most authoritative provider of strategic business intelligence to the financial services community. The Singapore-based company has offices in Singapore, Malaysia, Hong Kong, Beijing and Dubai as well as representatives in London, New York and San Francisco. It has a business model that revolves around three core business lines: publications, research services and forums. The company's website is http://www.theasianbanker.com
About AxiomSL:
AxiomSL is the global leader in regulatory reporting and risk management solutions for the financial services industry. Established more than 20 years ago, AxiomSL empowers financial institutions to meet regulatory reporting and risk requirements across multiple regulators and jurisdictions. The strategic data-driven platform enables firms to meet demands from various regulations, including Basel III, Dodd-Frank, AIFMD, FATCA, EMIR, FINREP/COREP and Solvency II, as well as liquidity, market and credit risk management requirements. Leading financial firms use AxiomSL's data management, regulatory reporting and risk management solutions to administer all internal data procedures, simplify, standardize and automate processes, and improve data integrity to successfully enhance decision-making. The AxiomSL platform integrates clients' source data from disparate systems and locations, without any data conversion, in a cost-effective manner, providing flexibility, transparency, traceability and the ability to drill down into data sources. It also delivers analytical applications in the areas of data integration and warehousing, financial risk management, regulatory reporting, compliance and financial control. This solution enables financial institutions to have full control over every step of the process and can adapt quickly to evolving regulations. AxiomSL's suite delivers a fully integrated solution from data sourcing to final reports including XBRL submission. Visit www.axiomsl.com for more details.
