Adenza has announced it will provide Basel-driven capital calculations and reporting for Saxo Bank.
The firm will support the bank’s multijurisdictional capital and liquidity reporting requirements throughout Denmark, Switzerland and the UK, with plans to expand into the Netherlands.
Saxo Bank has deployed Adenza ControllerView data integrity and control platform to power its new regulatory platform for financial, risk, capital and liquidity reporting.
ControllerView sets to address Basel-driven capital requirements, European Banking Authority (EBA) liquidity and capital standards, in addition to local financial reporting requirements.
Adenza says the platform draws data from across its operation to streamline the management of reporting obligations and enhance data harmonisation across the organisation.
Speaking on the announcement, Mette Ingeman Pedersen, group chief financial officer a Saxo Bank, says: “As financial sector regulation continues to grow, both in terms of scale and complexity, it was critical that we deploy a risk and regulatory platform that allowed us to harmonise regulatory solutions across our global organisation, while also gaining operational efficiency and flexibility.
“By working with Adenza, we will ensure that our risk and regulatory reporting capabilities are equally advanced and capable of scaling with us globally as we continue to grow.”
Imad Abou Haidar, UK, Nordics and CIS regional head of sales at Adenza, adds: “The ControllerView solution is such an ideal fit for Saxo Bank, because it allows the institution to address all of its regulatory reporting needs today and in the future from a single, highly flexible platform.
“By delivering a complete, vertically integrated risk calculation and reporting solution, we have given Saxo Bank a single source of truth that delivers consistency and reliability in a constantly-changing regulatory environment.”
