IBS Journal November 2015


WHO? Bank of China Singapore Branch WHAT? AxiomSL for reporting and risk management


Bank of China Singapore Branch (BOCSG) has chosen AxiomSL for Basel III regulatory reporting and risk management. BOCSG will use AxiomSL’s platform due


to the Monetary Authority of Singapore (MAS) Minimum Liquid Assets and Liquidity Coverage Ratio (MAS 649) requirement. This framework was issued in Novem-


ber 2014 and requires a bank incorporated and headquartered in Singapore to main- tain at all times a Singapore Dollar liquidity coverage ratio (LCR) of at least 100% and other requirements. Any other bank notified by the MAS that it is D-SIB (a domestic systemically important


bank) or a bank that elects to comply with the LCR framework, has also to maintain at all times, a Singapore Dollar LCR requirement of 100% and an all currency LCR requirement of 50% by 1st January 2016. Ng Woon Kong, deputy head of finan- cial management department, BOCSG, says: ‘We chose AxiomSL because of its integrat- ed Basel III liquidity calculation and regula- tory reporting platform. We value their plat- form’s flexibility and ability to address our needs to set up a solid foundation that can integrate with BOC’s source data given the limited time frame.’ AxiomSL says the implementation


spans a ‘comprehensive’ suite of asset classes and will cover all ‘key functions’ of the liquid- ity risk management cycle; from data man- agement to cash-flow generation, asset clas- sifications, liquidity calculations, integrated management and regulatory reporting. Olivier Kamoun, CEO of AxiomSL APAC,


adds: ‘We believe that regulators across Asia have exercised prudence in assessing the liquidity levels in their jurisdictions. The opportunity and onus is now with banks to explore strategic solutions to tackle the increasing cross-jurisdictional reporting requirements.’


Antony Peyton


WHO? Atom Bank WHAT? Sungard’s Ambit Treasury Management/Quantum


Atom Bank, a digital-only challenger bank based in the UK, has selected Sungard as its treasury and risk management software provider. The bank is implementing the


vendor’s Ambit Treasury Management/ Quantum for treasury management and Ambit Focus for application lifecycle man- agement, liquidity risk and funds transfer pricing. According to the vendor, it was select-


ed by Atom Bank due to the platform’s ‘scal- ability and the flexibility of the Sungard team’. The offering will allow Atom Bank to integrated its treasury and risk operations into a single manageable platform, some- thing that is ‘critical’ for the bank as it heads towards launch. The bank was granted a restricted


licence by the UK regulators a couple of months ago, and is gearing up for a limit- ed ‘friends and family’ trial launch later this year. It expects the restrictions to be lifted and be fully open for business soon. Andrew Woods, executive vice-presi-


dent of treasury at Sungard, believes that the deal represents the company’s posi- tion as ‘the preferred provider for challeng- er banks’. Another UK-based digital bank-


ing start-up, Charter Savings Bank, has launched earlier this year with Ambit


© IBS Intelligence 2015 www.ibsintelligence.com


Treasury Management as its core solution. Ambit Treasury Management is a


well-established system in the UK, with 30+ users, the majority of which are building societies (Ipswich, Leeds, Newcastle and Nationwide among them). It is also used by domestic banks, such as Lloyds, Aldermore Bank and Sainsbury’s Bank, and by the UK operations of foreign banks, e.g. Jordan Ahli Bank.


Atom Bank has been busy snapping


up systems from multiple vendors in preparation for its eventual launch. These include Wolters Kluwer’s OneSumX for regulatory reporting, Iress’ Mortgage Sales & Origination (MSO) suite, FIS’s Profile core banking system, and the online banking platform from Intelligent Environments (IE).


Alex Hamilton WHO? Mobiliar Asset Management WHAT? Profidata’s Xentis


Switzerland-based fund manager, Mobiliar Asset Management, has selected Profidata’s Xentis system. Mobiliar will use Xentis front-to-back – for asset management and investment


controlling as well as administrative tasks. According to Profidata, Xentis was selected due to its connectivity, workflow


management capabilities and Swift reconciliation procedures. Sven Rump, CEO of Mobiliar Asset Management, says that the firm’s goal was


always to be able to run a number of its processes through one system. It was essential, he adds, that it chose the right partner in what would be a


switchover fraught with potential risks. Xentis will ‘fully replicate’ Mobiliar’s group structure and complex business pro-


cesses, says Peter Klein, member of Profidata Group’s Management Board. The selec- tion, he adds, continues the Xentis’ market expansion in the insurance and pension fund segment.


Alex Hamilton


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