G-SIB launches global regulatory reporting cloud strategy in Europe and the US with RegCloud®
An American multinational investment bank and financial services company selects Adenza’s RegCloud single-tenant cloud solution for reporting in England, France, Germany, and the US.
Compelling event and decision drivers
For years, financial institutions have had their hands full monitoring and interpreting new regulations, incorporating ever-changing rules, regression testing, upgrading software, and managing technical infrastructures. And while the cloud beckoned to address these challenges and the total cost of ownership (TCO), they had to be prudent about handing off change management tasks without sacrificing the security of material non-public information (MNPI).
For the client, consolidation in the cloud addresses the need for two template update teams – one for Europe (Adenza) and another for the US (third-party vendor). It also wanted a solution that would deliver performance and scalability improvements in both the short and long terms.
The good news is that this G-SIB – having overcome the trepidation around MNPI security and been exploiting cloud benefits for other strategic initiatives – was able to leverage the same provider for RegCloud, and achieve its objectives with Adenza.
Adenza’s RegCloud SaaS Offering
The antithesis of a black box, Adenza’s AxiomSL ControllerView platform delivers transparency across fully automated processes from data ingestion to report submission, enabling clients to meet regulatory reporting requirements in the cloud, regardless of jurisdiction. Because RegCloud is architected to take full advantage of a sophisticated cloud environment’s features including scalability, security, and automation, any such deployment amplifies ControllerView’s reporting solutions.
In addition, the RegCloud offering includes Adenza’s new Regulatory Change Service (RCS), which deploys template updates, globally. RCS liberates clients from change management, enabling them to focus on executing core business activities of managing regulatory data, reporting and submission, while adhering to relevant security standards.
Differentiating RegCloud characteristics include:
The Benefits
RegCloud scales dynamically as the business grows, delivering benefits including:
- Well-architected, high-performing, resilient, and efficient infrastructure for regulatory workloads
- Interactive solution-update planning with regulatory subject-matter experts
- Dedicated cloud-engagement manager from inception and product management expertise in-process
- Improved business intelligence from consistent regulatory data
We’re glad that G-SIBs, of which more than 90% use the AxiomSL ControllerView platform, are also strategically embracing the cloud. With it now a cornerstone of their strategy – we saw a 300% increase in the number of clients moving to the cloud between 2020 and 2021 – progressing the case for RegCloud beyond compelling to indisputable.
With us, clients can also potentially expand into Adenza’s Calypso capital markets applications.
- Strath Lanyon, Head of Cloud Services, Adenza
