AxiomSL announced it has built capabilities that enable regulatory and risk reporting on both public and private cloud infrastructures. AxiomSL’s launch strongly validates the view increasingly shared by regulators and financial institutions that the cloud is a viable technology infrastructure – so long as appropriate risk-mitigation capabilities are in place.
As financial institutions contemplate cloud-computing infrastructures for regulatory reporting, they must examine the associated risks. Over the past two years, AxiomSL addressed the cloud risk-stack focusing on Business, Implementation and Operational risks and created the MNPI Vault to mitigate these risks. “When it comes to processing MNPI on the cloud, security is our highest priority. We provide carefully designed technical and operational capabilities to manage and mitigate risks across multiple dimensions,” said Peter Tierney, Global Head of Cloud Solutions.
“Expanding deployment options for our clients by leveraging cloud technology is a timely and natural extension of our leadership in regulatory, risk and analytics reporting,” said Alex Tsigutkin, Group CEO and Founder of AxiomSL. “I believe our clients will find the scale and automation benefits of the MNPI Vault extremely compelling. Our cloud deployment positions financial institutions to efficiently address today’s rapid velocity of change and ever-increasing data volumes. With the MNPI Vault, our clients benefit not only from secure cloud-delivery, but also from global access to AxiomSL’s flagship data integrity and control platform and our broad range of regulatory and risk reporting solutions.”
To meet clients’ exacting operational and security expectations, AxiomSL created a segregated cloud operations organization that complements its deep enterprise software capabilities. “It is crucial that our cloud deployment and associated operational procedures match or exceed those a financial institution would apply to an equivalent on-site solution. The MNPI Vault’s built-in advanced encryption and access-control features secure data and enable AxiomSL’s dedicated cloud-operations teams to manage reporting metadata and monitor infrastructure performance,” said Peter Tierney.
At the core of the MNPI Vault is AxiomSL’s ControllerView® regulatory data-management platform that has been enhanced to take advantage of Amazon Web Services’ (AWS) sophisticated security features. In a departure from multi-tenanted models, AxiomSL deploys the MNPI Vault on the basis of a secure virtual private cloud for each financial institution. AxiomSL’s cloud implementation combines the benefits of absolute data segregation and client-specific data sovereignty with the efficiencies of scalable solutions and automated change management. Clients deploying solutions within the MNPI Vault also benefit from the many hallmark capabilities of AxiomSL’s platform, including its powerful data-lineage and tracing modules that enable precision drill-down in real time to the original data source from any point in the workflow.
“We have successfully launched the MNPI Vault and we are pleased that our our clients worldwide may now experience the efficiencies of a secure cloud-deployment for their regulatory and risk reporting,” said Peter Tierney.
Re-disseminated by The Asian Banker