Copying and distributing are prohibited without permission of the publisher
AxiomSL pushes XBRL in Emea and Apac
03 March 2014
Implements solution for leading banks
Axiom Software Laboratories’ eXtensible Business
Reporting Language (XBRL) solution has been implemented at
leading banks in Europe and Asia. Institutions in Emea and Apac
are initially utilising AxiomSL to meet the COREP, FINREP, LCR
and NSFR reporting as part of the Capital Requirements
Directive IV but are looking to leverage the platform for IFRS,
Solvency II or any other XBRL reporting need.
"Regulators will have far more power and control over data in
the coming years as XBRL enhances dramatically the capabilities
of regulators to analyse, compare and validate financial data,"
said Ed Royan, COO, AxiomSL Emea. "Institutions across the EU
and EEA are seeking a single platform for XBRL and non-XBRL
reporting rather than disparate systems across each region."
"AxiomSL’s integrated reporting solution easily
adapts to XBRL taxonomy requirements across multiple countries.
Its robust and flexible platform supports customisation,
extension and the ability to tag at the data source and reuse
the validated financial results for other reports."
Alex Tsigutkin, CEO of AxiomSL, added: "AxiomSL’s
unique enterprise-wide reporting platform combined with its
innovative XBRL technology not only enables financial
institutions to streamline financial reporting processes by
improving data integrity, transparency, traceability for audit
and verification purposes but provides the foundation to
support any other taxonomy requirements worldwide."
"AxiomSL’s commitment to lead through both best
practices and the ease of implementing regulatory reporting
solutions across multiple jurisdictions via one integrated
platform remain our top priorities."