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To comply with numerous regulatory requirements and enhance information oversight, financial reporting, and risk analysis, firms should establish integrated data taxonomies and architecture across the enterprise. This includes information on the characteristics of the data as well as unified naming conventions for the data attributes, while avoiding major redesign of the entire enterprise technology. AxiomSL’s platform standardizes clients’ metadata across the enterprise data sources, which may be dispersed across the bank, and creates common translation tables using its Visual Business Rules™ technology. Further, this integrated approach consolidates and provides aggregation for financial, risk, and transactional data while managing large volumes. To achieve maximum transparency, AxiomSL introduced a concept of on-demand business data models to extend granular data sources with aggregated results for internal and external reporting, coupled with validation, reconciliation, and variance analysis to meet normal and crisis accuracy requirements.
“AxiomSL’s collaborative platform enables IT and business people to focus on data lineage, data quality, integration, and
AxiomSL’s strategic platform, allows FIs to take advantage of all subject matter challenges, whether it comes from an analytical perspective or aggregation in shareholders’ disclosure requirements. Complying with the latest regulatory reforms, the integrated platform allows FIs to automate and streamline business operations, while optimizing processes and systems. It also assists in data enrichment and transparency to enhance decision making and reduce operational costs—amplifying regulatory reporting capabilities. Further, AxiomSL’s platform enables FIs to harmonize and reconcile large volumes of source data and eliminate duplicate efforts by integrating risk and finance reporting into a single business intelligence layer.
AxiomSL’s collaborative platform enables IT and business people to focus on data lineage, data quality, integration, and metadata
Working closely with Tier 1 and Tier 2 FIs, AxiomSL recognizes the need for data governance structure across all financial services industry to achieve compliance with BCBS 239 international rules and eradicate the “black box” effect during the assembly and aggregation of data demanded by management teams and regulators.