Openbank picks AxiomSL for regtech reporting
Openbank, the digital bank of Santander Group headquartered in Spain, has picked AxiomSL, regtech provider, for the implementation of central bank, capital, liquidity, trade and transaction and AnaCredit reporting on a global level, for both European and South American countries.
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Openbank’s selection of AxiomSL extends the existing relationship with Santander Group, as the group has already implemented regulatory reporting requirements in Mexico and the US.
According to the bank, the choice of AxiomSL’s solutions was due to the fact that they ensure that users have complete control over establishing and maintaining reporting logic. This allows Openbank to address complex requirements while keeping the process and data fully transparent and traceable.
Cristobal Miralles, chief technology officer and chief operations officer, Openbank comments: “AxiomSL’s ability to accommodate multi-jurisdictional and multi-faceted regulatory requirements was the key factor behind our decision to select its solutions. The platform will automate the full process from data capture to reporting submission to meet our central bank, capital and liquidity compliance requirements, saving us time and resources to focus on our core business activities.”
The AxiomSL platform also enables clients to monitor risk and eliminate errors that can occur through manual processes, with the aim to deliver quicker time-to-market for additional solutions or jurisdictions at reduced cost and complexity.
