Tier-1 Bank to Accelerate Its Global Regulatory Modernization Program by Deploying Nasdaq RegCloud and Basel IV Solution
Leading North American bank extends its regulatory reporting into Basel IV calculation and reporting on a global basis while shifting the existing footprint onto RegCloud®
Compelling Event and Decision Drivers
Basel III finalization (aka Basel IV, Basel III Endgame, and Basel 3.1) and all its secondary and tertiary implications are rolling out around the globe. With European compliance dates in January 2025, and a compelling need to modernize the enterprise architecture underpinning its regulatory and risk reporting, this tier-1 financial institution needed an integrated solution capable of addressing the many national discretions and variations that were complicating their adoption of Basel IV globally. Considering the ever-increasing volumes of data and multitudes of risk scenarios it must compute across asset classes, the bank recognized that the right solution would have to be robust, performant, flexible, and easily integrable with its operating model.
Already operative in the US and Singapore, Nasdaq AxiomSL® solutions had successfully automated the bank’s regulatory reporting and liquidity calculations. Therefore, the client recognized the value it could unlock by deploying those solutions on a global basis and expanding coverage to incorporate capital calculations under Standardized and Advanced approaches, including pre-integrated capital reporting. With an eye towards futureproofing its regulatory reporting ecosystem, the client deployed the new solutions in RegCloud (the Nasdaq AxiomSL ControllerView® platform in a SaaS environment), simultaneously lifting and shifting existing on-premises solutions.
Nasdaq AxiomSL Performant Platform and Solutions
The antithesis of a black box, Nasdaq’s single integrated platform delivers transparent solutions characterized by fully automated processes from data ingestion to report submission that enable clients to meet a range of complex regulatory data, calculation, and reporting requirements, regardless of jurisdiction. The solution natively ingests crossasset data from many sources — including the Nasdaq Calypso capital markets platform, enabling clients to streamline data flows and operational processes. The platform is:
More Benefits
With the fully managed Nasdaq RegCloud service, comprehensive regulatory reporting coverage, and highly performant calculation engines, firms are positioned to solve current and upcoming regulatory initiatives seamlessly, ensure end-to-end security, accuracy and automation, and achieve strategic objectives including to:
- Drive cost efficiency by consolidating multiple platforms and vendor solutions into a single solution
- Gain business agility by enabling fast, efficient adoption of incessant regulatory changes
- Derive valuable insights into the sources and uses of capital and liquidity under baseline and stress scenarios
We are delighted to work with this client as it embarks on a strategic risk and regulatory reporting journey.
Nasdaq RegCloud, a futureproofed single platform, instills confidence that clients can scale as their businesses grow and regulatory mandates change. Initiatives like these are especially prescient in today’s environment of demanding global regulatory requirements and the equally pressing need for simplification, consolidation, and streamlining.
- Edward Probst, Head of Regulatory Technology, Financial Technology, Nasdaq
