Groupe BPCE subsidiary Banque Palatine has deployed AxiomSL’s regulatory platform to be in line with AnaCredit reporting requirements in France.
Image: Banque Palatine has deployed AxiomSL’s platform to meet AnaCredit reporting requirements. Photo: courtesy of bluebay / FreeDigitalPhotos.net.
AxiomSL’s platform will help Banque Palatine to achieve its objective of automating the complex process of AnaCredit reporting.
The European Central Bank (ECB) has launched AnaCredit regulation to gather granular credit data on individual bank loans assigned by credit institutions to companies or legal entities in the eurozone.
Reporting agents experienced various significant challenges ahead of their submission deadline for complete datasets in September 2018, including data granularity, reporting frequency and multi-jurisdictional requirements.
Banque Palatine has selected AxiomSL’s platform to deal with these challenges and achieve rapid time to market and enhanced data management capabilities.
The multi-jurisdictional global coverage of AxiomSL will allow to take future decisions to expand the agreement scope and reduce the regulatory system total cost of ownership (TCO).
AxiomSL’s flexible and scalable functionalities combined with the business dashboards will enable users to rapidly process and manage the large quantities of data, which are needed to comply with the regulation.
The solution holds capacity to solve the complexities of AnaCredit through offering a single strategic platform, which can accommodate multiple client data structures.
The platform is said to meet the threshold rules of each National Central Bank (NCB), in addition to AnaCredit’s granular data requirements and submission structures.
AxiomSL’s solution can deal with any volume of data, and holds capacity to support diverse clients without considering the size or lending volume variations.
Banque Palatine chief data officer Marc Philippe said: “We have chosen AxiomSL’s strategic platform, as its AnaCredit solution offering will allow us to reduce implementation costs and increase operational efficiency, by automating our reporting processes in a flexible and scalable fashion. We are pleased to be working with AxiomSL.”
Banque Palatine is a business banking and wealth management specialist, which provides services to SMEs and mid-sized companies.
With a network of 49 branches in France, Banque Palatine works with expert business lines in areas such as private asset management, corporate finance, real estate, international trade and dealing rooms.