About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

AxiomSL to Assist Bank of China with French AnaCredit Reporting Needs

Subscribe to our newsletter

Bank of China, which first started using AxiomSL’s regulatory capabilities back in 2015 to meet liquidity reporting requirements in Singapore, has extended its use of the platform to implement AnaCredit reporting requirements in France.

AnaCredit is a project set up by the European Central Bank (ECB) to collect detailed information on individual bank loans in the EU, with data collection scheduled to begin in September 2018.

Bank of China will use AxiomSL to automate the AnaCredit reporting process and ensure the timely and efficient submission of data. The scalable solution allows users to process, monitor and adjust the large quantities of data required by the new regulation: leveraging the bank’s existing data structure to aggregate the requisite data, map it onto the ECB data structure, populate the mandatory report templates and apply the regulatory validation rules.

“We chose to extend our usage of AxiomSL’s platform because it proved to lower the overall cost and complexity of regulatory reporting for our firm,” said Jérôme Dion, Head of Risk and Financial Management, Bank of China Paris. “We have received positive feedback with the outcome of utilising the platform for regulatory reporting in Singapore, so the decision to use it for AnaCredit compliance in France came naturally. The platform’s ability to facilitate multi-jurisdictional reporting on a global level will also allow us to tackle any additional regulatory reporting requirements confidently.”

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Unpacking Stablecoin Challenges for Financial Institutions

The stablecoin market is experiencing unprecedented growth, driven by emerging regulatory clarity, technological maturity, and rising global demand for a faster, more secure financial infrastructure. But with opportunity comes complexity, and a host of challenges that financial institutions need to address before they can unlock the promise of a more streamlined financial transaction ecosystem. These...

BLOG

The US Litigation Paradox: Why Passive Participation is the Key for European Asset Managers

In the second blog of our series on securities litigation claims, we look at how the complexity of fragmented legal jurisdictions globally often deters European asset managers from getting involved in litigation and argue that the simplicity of the US system may mean participation is easier than many European firms are aware of. Access the...

EVENT

TEST Event page 1

Now in its 15th year the TradingTech Summit London brings together the European trading technology capital markets industry and examines the latest changes and innovations in trading technology and explores how technology is being deployed to create an edge in sell side and buy side capital markets financial institutions.

GUIDE

Putting the LEI into Practice

Hundreds of thousands of pre-Legal Entity Identifiers (LEIs) have been issued by pre-Local Operating Units (LOUs) in the Global LEI System (GLEIS), and the standard entity identifier has been mandated for use by regulators in both the US and Europe. As more pre-LEIs are issued ahead of the establishment of the global systems’ Central Operating...