Banco Sabadell in regtech project with AxiomSL
AxiomSL’s regulatory reporting platform will be deployed at the bank’s HQ in Barcelona.
It will support Common Reporting (Corep), Financial Reporting (Finrep), Liquidity Coverage Ratio (LCR), Net Stable Funding Ratio (NSFR), Asset Encumbrance (AE) regulatory requirements as well as all Spain’s central bank reporting requirements.
AxiomSL will support all of the report templates required by Sabadell and the latest versions of the EBA’s eXtensible Business Reporting Language (XBRL) taxonomy.
“When these are changed by the regulator, AxiomSL releases updated versions within a month,” the vendor states. “This unrivalled delivery time was an important factor in Sabadell’s decision to choose AxiomSL.”
AxiomSL’s regtech software is already in use by Sabadell’s subsidiary in the UK, TSB (acquired by the Spanish banking group in 2015, following the demerger of Lloyds and TSB).