Anadolubank opts for AxiomSL’s XBRL solution for regulatory reporting
The project follows the DNB’s decision to align with other European central banks by mandating the use of XBRL for European Banking Authority (EBA) regulatory submissions.
Anadolubank Nederland will use XBRL to convert its regulatory reports from Excel and other formats into the XBRL taxonomies specified by the EBA.
“AxiomSL’s XBRL solution meets our needs exactly,” says Nuriye Plotkin, MD, Anadolubank Nederland. “The control and data validation functionality offered by AxiomSL gives us complete confidence in the accuracy of the data we will submit to the regulator. As the EBA continues to release new versions of its XBRL taxonomy, AxiomSL’s quick time to market was also compelling.”
The solution will be used for the common reporting (COREP), financial reporting (FINREP), asset encumbrance, liquidity coverage ratio (LCR), net stable funding ratio (NSFR) and leverage ratio components of the capital requirements directive IV (CRD IV).
Anadolubank Nederland started its activities in 2008. The bank specialises in trade finance, forfaiting and structured finance products.
AxiomSL is also implementing its flagship regulatory reporting platform at US-based PNC Financial Services.
PNC, one of the largest banks in the US, will use the solution for its reg reporting needs in the domestic market, plus Canada and the Bahamas.