Adenza, the new company formed by the merger of Calypso Technology and AxiomSL to provide customers with end-to-end, trading, treasury, risk management and regulatory compliance platforms, announces that it has been selected by Allied Irish Banks, p.l.c. (AIB) to support the bank’s credit risk, securitization, leverage ratio and large exposure risk reporting throughout Europe and the UK.
Adenza’s AxiomSL risk solutions, which are used by the majority of the world’s Global Systemically Important Banks (G-SIBs), deliver a consistent, automated approach to capital and credit calculations, data management and analytics. Drawing on a common data dictionary that harmonizes the intricacies of multi-jurisdictional reporting requirements, national discretions and agency-specific divergences, the solutions enable banks to manage a wide range of global regulatory risk requirements. These include global and cross-regional compliance with the rules developed by the Basel Committee on Banking Supervision (BCBS), such as internal ratings-based approaches (IRB) and standardized approach for counterparty credit risk (SA-CCR).
Adenza’s AxiomSL centralized and highly scalable approach to both standard and advanced credit risk calculations enables AIB to meet risk calculations and reporting requirements without the need to reinvent and rebuild new technology each time regulatory obligations change. We felt it was important to work with a firm that can deliver high powered reporting solutions across the regulatory reporting suite for today and in the future.
Adenza’s AxiomSL risk calculation solutions have allowed AIB to improve efficiency and minimize overhead while providing traceability across all complex calculations. Adenza’s risk calculation engine is part of the AxiomSL ControllerView® data integrity, data lineage and control platform, which allows institutions to ingest external model results, add source data and transform disparate data points into a Basel-driven data dictionary that supports advanced regulatory calculations, reporting and submission from a single source. This approach allows users to address multi-jurisdictional regulatory calculations and reporting requirements with a data-focused, consistent process that facilitates explanation of changes in risk exposure and also helps to identify what caused those changes and where they occurred.
Banks are expected to not only produce risk capital reporting results, but also be able to show a clear audit trail, Our data dictionary-led approach to credit risk is allowing AIB and other leading banks to automate risk calculations, drawing on data from across the entire institution, without compromising auditability.
About AIB
AIB is a financial services group headquartered in Ireland. Its main business activities are retail, business and corporate banking, as well as mobile payments and card acquiring. The bank is committed to supporting the transition to the low-carbon economy and backing sustainable communities.
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
Global Head of Marketing, Adenza
Email: herve.delaforcade@adenza.com
