Adenza, the new company formed by the merger of AxiomSL and Calypso Technology to provide customers with end-to-end, trading, treasury, risk management and regulatory compliance platforms, today announced that it has been selected by Mercado Libre, Latin America’s leading e-commerce and digital payments company, to automate regulatory reporting throughout Latin America.
To comply with rigorous regulatory requirements, financial institutions operating in Latin America must file a wide range of detailed reports capturing liquidity, risk capital and large exposures. Adenza regulatory reporting solutions seamlessly aggregate the necessary data needed to satisfy these requirements. Powered by Adenza ControllerView® data integrity and control platform, these automated solutions retrieve, manage, and reconcile volumes of disparate, diverse data to comply with complex, ever-changing risk and regulatory requirements and satisfy exacting data quality and governance expectations.
As one of the largest retailers and digital payments companies in Latin America, Mercado Libre needs a powerful regulatory reporting solution that addresses the unique, complex requirements of every country in which we operate. Moreover, we need a solution that can scale instantly to address our rapid growth and continue to expand as we grow services such as open banking throughout the region.
Based in Argentina, with major offices in Brazil and Colombia, and operating throughout Latin America, Mercado Libre must file a wide range of liquidity, risk capital and exposure reports in each jurisdiction in which it operates. Adenza’s regulatory reporting solutions, which are used by the majority of the world’s Global Systemically Important Banks (G-SIBs), deliver a consistent, transparent, automated approach to these complex regional reporting requirements. Based on a common data dictionary that harmonizes the complexities of these reports, the solution allows Mercado Libre to manage a wide range of local and inter-regional regulatory requirements.
The regulatory reporting regime for companies operating across multiple jurisdictions is endlessly complex and constantly changing. Our vast experience with the world’s largest financial institutions operating in the region makes us the ideal partner to support Mercado Libre, and we are proud to help the company in its efforts to support financial inclusion for millions of people in Latin American countries.
To learn more about Adenza’s AxiomSL risk and regulatory reporting solutions for Latin America, please visit www.adenza.com.
About Mercado Libre
Mercado Libre is a multinational company based in Buenos Aires dedicated to electronic commerce in Latin America. Founded in 1999, it has operations in Argentina, Bolivia, Brazil, Chile, Colombia, Costa Rica, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Panama, Paraguay, Peru, the Dominican Republic, Uruguay and Venezuela. It is one of the largest e-commerce companies in the world. It also has a service called MercadoPago, a platform for charging buyers and payments and credits to sellers. Although its headquarters are in Argentina, its main and profitable operating markets are in Brazil and Mexico. Mercado Libre has about 180 million users on the continent.
Recognized for its strategy focused on financial and digital inclusion, MeLi’s products will be widely used throughout the region, thanks to the large footprint of its platform.
About Adenza
Adenza provides customers with end-to-end, trading, treasury, risk management and regulatory compliance platforms which can be delivered on-premise or on-cloud. Adenza enables financial institutions to consolidate and streamline their operations with front-to-back solutions integrated with data management and reporting, benefitting from a single source of truth across the business.
With headquarters in London and New York, Adenza has more than 60,000 users across the world’s largest financial institutions spanning global and regional banks, broker dealers, insurers, asset managers, pension funds, hedge funds, central banks, stock exchanges and clearing houses, securities services providers and corporates.
Press contact
Herve de Laforcade
E: herve_delaforcade@calypso.com
