AxiomSL, the leading provider of regulatory reporting and risk management solutions, announces today that Yapi Kredi Bank Nederland has selected AxiomSL’s strategic platform to comply with European Banking Authority (EBA) capital and liquidity regulations, in addition to De Nederlandsche Bank (DNB) specific financial and statistical reporting requirements. AxiomSL will enable Yapi Kredi to both reduce manual interactions in reporting and ensure that regulatory reports are submitted in a timely and efficient manner.
The bank selected AxiomSL to meet EBA and DNB reporting requirements due to the company’s strategic platform which incorporates all crucial features and calculations onto a single platform. Banks in the Netherlands are required to file a variety of complex reports, based on both European and domestic requirements, including common reporting (COREP) and financial reporting (FINREP) which are mandated as part of the Capital Requirements Directive IV (CRD IV).
AxiomSL’s data integrity and control platform ControllerView® provides critical Asset Liability Monitoring (ALM) features such as cashflow generation, Effective Interest Rate (EIR), Interest Rate Risk in the Banking Book (IRRBB) and Mark to Market (MtM) for derivatives. These cashflows and calculations are then integrated directly into CRD IV liquidity, capital and central bank solutions providing Yapi Kredi Bank with full transparency and data lineage for all EBA and DNB reporting requirements.
AxiomSL’s single data-management and reporting platform provides Yapi Kredi Bank with increased automation, allowing experts within the bank to reduce their manual workloads, as well as improve controls by tracing data in a precise, transparent and cohesive way. To align operational requirements, AxiomSL’s implementation consultants consolidate input data and report outputs onsite generating customised Management Information (MI) reports for Yapi Kredi’s headquarters in Turkey.
Mustafa Duru, Chief Risk Officer, Yapi Kredi commented: “AxiomSL’s strategic platform provides the ideal solution for transforming our reporting processes. We are confident that the increased automation will successfully deliver all of our central bank, liquidity and capital reports in a timely and accurate manner, while simultaneously lowering the cost of compliance. We look forward to continuing our work with AxiomSL.”
Ed Royan, CEO, AxiomSL EMEA commented: “We are delighted that Yapi Kredi Bank has selected our strategic platform to comply with the ECB’s capital and liquidity requirements as well as the DNB’s regulations in the Netherlands. Our strategic solutions simplify the reporting process with automation, data governance and end-to-end data management capabilities. This significantly lowers the cost of compliance for our clients, minimises human interaction and enhances operational efficiency. We are excited to deliver this outcome through our partnership.”