FirstRand Bank live on new reg reporting solution in London
The London-based subsidiary of South Africa’s banking group, FirstRand Bank, is live with a new regulatory reporting solution. The software is supplied by specialist vendor AxiomSL and supports the bank’s production and submission of statistical reports required by the Bank of England (BOE).
AxiomSL has been providing its BOE reporting solution to financial institutions in the UK for over a decade. The vendor says it “supports all aspects of reporting to the regulator, from the aggregation and cleansing of data to the population of templates and submission of completed reports via the Online Statistical Collection Application (OSCA)”.
The vendor emphasises that it provides all of the required report templates and updates them when they are changed by the BOE. The 2016 BOE report changes were released by AxiomSL before the end of 2015 – “months in advance of their implementation” – it claims.