Saxo Bank Implements Adenza ControllerView To Automate Risk Calculations And Regulatory Reporting

May 19, 2022 - Adenza, the new company formed by the merger of Calypso Technology and AxiomSL to provide customers with end-to-end, trading, treasury, risk management and regulatory compliance platforms, is now providing Basel-driven capital calculations and reporting for Saxo Bank. Adenza is supporting the bank’s multijurisdictional capital and liquidity reporting requirements throughout Denmark, Switzerland and 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. Addressing Basel-driven capital requirements, European Banking Authority (EBA) liquidity and capital standards, along with local financial reporting requirements, the ControllerView platform has been seamlessly integrated into Saxo Bank’s existing architecture. The platform draws data from across its operation to streamline the management of reporting obligations and enhance data harmonisation across the organisation.

Mette Ingeman Pedersen, Group CFO at Saxo Bank, commented on the new implementation, "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 harmonize regulatory solutions across our global organization, 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 & CIS Regional Head of Sales at Adenza, also commented, "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’ve given Saxo Bank a single source of truth that delivers consistency and reliability in a constantly-changing regulatory environment."