Consolidates bank's reporting on a single platform for
financial/statistical, AnaCredit, and CRR2/Basel-driven mandates including ICAAP and
ILAAP, and provides foundation for strategic expansion
LONDON and FRANKFURT,
Germany, Sept. 16, 2020 /PRNewswire/
-- AxiomSL, the industry's leading provider of risk and
regulatory reporting solutions, today announces that VP Bank, one
of the largest banks in Liechtenstein, has selected AxiomSL's
ControllerView® data integrity and control
platform, as a foundation for its risk and regulatory compliance
across Liechtenstein, Luxembourg, Singapore and Switzerland, -
encompassing financial and statistical reporting such as
CSSF, FINMA, AnaCredit for EBA, MAS 610 for Singapore, and CRR2- and BCBS-driven
requirements including ICAAP and ILAAP for FMA.
The high-performance, fully integrated, data-driven platform
will enable VP Bank to manage 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 will use the platform
strategically to further data harmonization, streamline processes,
enhance automation, bolster internal controls, and strengthen risk
and regulatory reporting across the enterprise.
"Selecting AxiomSL will enhance the value of our investment in
regulatory technology, optimize efficiency, and deliver business
insights," stated Robert Kilga, Head
of Group Financial Management & Reporting, VP Bank. "With
AxiomSL's 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," he
continued. "AxiomSL's system provides intuitive, hands-on
transparency into all processes from inception to filing,
enhancing our confidence in the data integrity and
auditability of our reporting, and enabling us to meet
ever-changing regulatory requirements."
"We are thrilled that VP Bank, such a well-respected
institution, has joined our esteemed user community in the DACH
region and globally," said Claudia
Thurner, EMEA General Manager, AxiomSL. "In these times of
global uncertainly, complying with a wide range of regulatory and
risk requirements across jurisdictions is more complex, data
intensive, and time sensitive than ever. Financial institutions
require a reliable technology partner who can provide global
coverage while understanding the intricacies of local and regional
regulatory demands," Thurner continued. "Our 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."
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. These calculations
may have a profound effect on the banks' portfolio management
and even the entire business model.
To address these challenges, AxiomSL's Basel Capital Solution
incorporates a flexible data dictionary architecture, seamless
calculation updates, full drilldown to data and processes,
transparency into model calculations, and dynamic data lineage. In
addition, AxiomSL's regulatory experts provide VP Bank with a
highly efficient change-management mechanism that enables them to
be current with all Basel-driven
changes.
About AxiomSL
AxiomSL is a global leader in risk analytics, data-management,
and regulatory-reporting solutions. Leveraging more than 25 years'
experience, AxiomSL combines its deep industry experience and
intelligent data-management platform to deliver solutions and
services around regulatory and risk reporting, liquidity, capital
and credit, operations, trade and transactions, and tax analytics.
The platform can be deployed on premise or on the cloud. Its client
base spans regional and global financial institutions with more
than $43 trillion in total assets and
investment managers with more than $11
trillion in assets under management. Its coverage
encompasses more than 110 regulators across 55 jurisdictions.
AxiomSL is in the top 20 of the Chartis
RiskTech100® 2020 ranking.
Website: www.axiomsl.com
VP Bank
VP Bank Ltd was founded in 1956 and is one of the largest banks
in Liechtenstein with 979
employees at mid-year 2020 (full-time equivalent 908). It has
offices in Vaduz, Zurich, Luxembourg, Singapore, Hong
Kong and Road Town on the British
Virgin Islands. VP Bank Group offers asset management and
investment consultancy for private individuals and intermediaries.
As of 30 June 2020, assets under
management at VP Bank Group totaled CHF 45.6
billion. VP Bank is listed on the Swiss stock exchange
SIX and has an "A" rating from Standard & Poor's.
Website: www.vpbank.com
Press contacts
Shamira Alidina
Media
Relations Director, Dina
Communications
Tel +44 (0) 7801 590718
Email: shamira@dinacomms.com
Francine Gittins
Global
Head of Marketing and Communications, AxiomSL
Tel: +1 212 248 4188
Email: fgittins@axiomsl.com
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