Fifth Third Bank Deploys AxiomSL’s Regulatory Reporting Platform in the US

Fifth Third Bank, the 11th-largest US bank, with $142 billion in assets, today announced that it is expanding its use of AxiomSL's platform and capital calculations tool to meet several regulatory reporting obligations for its US operations.

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The implementation spans a suite of asset classes and will cover all key functions of the analytical and regulatory reporting cycle; from US Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term calculations (LCR) to CCAR requirements and other required Federal Reserve reporting.

According to AxiomSL, the solution consolidates data for regulatory reporting purposes and allows banks to not only provide greater transparency to regulators, but also manage their risk exposure across all business functions more effectively. Users can also run edit checks and results validation, in addition to the capital calculations tool.

AxiomSL's platform delivers complete control over every step of the regulatory reporting and analysis processes, which were key considerations for Fifth Third Bank.

Blane Scarberry, Director of External Reporting at Fifth Third Bank, commented: “Our decision to build a relationship with AxiomSL is due, in large part, to our interest in keeping pace with the complexity of today’s regulatory environment and in maintaining cost-effectiveness across all operations. AxiomSL’s integrated platform is expected to enable us to meet financial and regulatory requirements, while also streamlining our reporting processes across critical business functions. This should provide us with the flexibility to meet evolving regulatory demands.”

Alex Tsigutkin, CEO of AxiomSL, added: “We are very pleased to have been selected by Fifth Third Bank as their strategic regulatory partner and are looking forward to working closely with them in ensuring a rapid paced implementation. To this end, AxiomSL’s platform will leverage their existing data and Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term infrastructure to meet LCR and CCAR requirements while ensuring that data is analysed, enriched and reconciled in a consistent, auditable manner with drill down and validation checks."

"This strategic and holistic approach empowers U.S. BHC’s to address quickly stringent and multiple submission deadlines emanating from regional and global authorities while delivering data aggregation capabilities, data governance and internal controls," he added.