Elixirr and Kaizen have partnered to deliver an end-to-end regulatory reporting remediation service for financial institutions. The firms, Elixirr a consultancy and Kaizen a regulatory reporting assurance specialist, will offer clients assurance testing, governance and support for trade and transaction reporting remediation projects. Kaizen’s ReportShield solution checks every item of transaction data for accuracy and completeness, while Elixirr provides practical support to resolve reporting issues highlighted by the Kaizen assurance assessment.
The partnership is designed to help firms improve reporting under regulations, such as Markets in Financial Instruments Directive II (MiFID II) and European Market Infrastructure Regulation (EMIR), and avoid regulatory penalties for errors in reporting and the internal cost of remediation.
Barry Lewis, partner at Elixirr, says “The partnership with Kaizen means we can combine robust data quality assurance tools with the analysis and remediation expertise of our team, and help our joint clients respond more effectively to increasing needs for reporting compliance.”
Dario Crispini, CEO and founder of Kaizen, says, “I see the partnership as an important step forward in compliance evolution. By combining the skillset and expertise of the two companies we are able to provide clients with enhanced confidence and accuracy when reporting to regulators. Elixirr has a strong reputation and we trust them to provide the best remediation solutions for the companies we work with.”