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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