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AxiomSL
One of the oldest banks in Denmark, a country roiled by a major money laundering scandal, has awarded a contract to AxiomSL, the regulatory reporting and risk solutions business.

Spar Nord Bank has chosen the firm’s strategic platform so that it can comply with requirements such as the Common Reporting Framework and Internal Ratings Based requirements in Denmark.

(COREP is a standardised reporting regime of the European Union’s main bank regulator.)

AxiomSL provides all required calculations, report templates and reporting functionality for COREP and other capital disclosures in Denmark and around the world. 

“Regulatory expectations continue to rise exponentially in Denmark and around the world,” Bjarne Højgaard, department director, IRB, Spar Nord Bank, said.

Spar Nord was established in 1824, which makes Spar Nord the oldest Danish bank outside Copenhagen. The bank has 49 branches and about 400,000 customers.