London - AxiomSL, the provider of regulatory reporting and risk management solutions, has announced a strategic partnership with German technical and regulatory support provider GridCon to leverage its German reporting know-how and extensive knowledge on data models for risk free data migration and address the new client data transition demand in the market.
AxiomSL chose to partner with GridCon for German regulatory reporting to expand their footprint in the region through access to from GridCon's long term consultancy and knowledge of the reporting obligations in Germany.
Regulatory reporting solutions in the German market are based on standard interfaces. The clients send their raw data according to the definition of these standard interfaces as csv, text or XML files. With this new partnership, GridCon's adaptor will take these standard interfaces and convert the delivered data into the AxiomSL input data models, such as FINSTAT. This will allow integration of the currently implemented interface to AxiomSL platform, which will require minimum effort from the client side on interfaces-adaption.
AxiomSL will be able to replace new clients' existing regulatory reporting solutions via the adaptor provided by GridCon. This will enable an efficient data transition over to AxiomSL's strategic platform, where the regulatory reports will be generated and submitted to the relevant authorities within short implementation timeframes.
Ed Royan, CEO, AxiomSL EMEA commented: "We are very pleased to partner with GridCon, in line with our vision to expand AxiomSL's footprint across Germany for regulatory reporting and risk management. This strategic agreement will provide us with a key tool for easy and seamless data migration process from other vendors over to AxiomSL's regulatory platform."