AuRep selects Nasdaq AxiomSL for regulatory reporting
28 February 2025 Austria
Image: txakel/stock.adobe.com
Nasdaq has signed an agreement with Austrian Reporting Services (AuRep) to provide regulatory reporting technology for the Austrian financial services industry.
Nasdaq estimates that this agreement will see around 90 per cent of Austrian credit institutions move their regulatory reporting infrastructure to the cloud, upgrading their legacy on-premises solution to Nasdaq AxiomSL.
Ed Probst, senior vice president of regulatory technology at Nasdaq, comments: “European banks are subject to intense supervisory oversight and ever-greater reporting requirements, which is driving increasing demand for cloud-based platforms that can readily adapt to change while providing scalability and the highest standards of security.”
Future regulatory changes, such as the EU’s incoming Integrated Reporting Framework (IReF), will be integrated into the Nasdaq AxiomSL platform, ensuring timely and cost-effective compliance, says Nasdaq.
Founded in 2013, AuRep is a collaboration among major banks and financial service providers in Austria, designed to consolidate regulatory reporting infrastructure onto a single, shared platform.
Kenneth Born, CEO of AuRep, states: “Adapting this software in line with the Austrian Central Bank’s granular Integrated Reporting Data Model continues the success story of the Austrian standardised granular reporting platform.
“It enables banks to create and submit reports legally required under Austrian and European regulations, with tailored and efficient software in a consistent and highly standardised manner, while realising economies of share.”
Nasdaq estimates that this agreement will see around 90 per cent of Austrian credit institutions move their regulatory reporting infrastructure to the cloud, upgrading their legacy on-premises solution to Nasdaq AxiomSL.
Ed Probst, senior vice president of regulatory technology at Nasdaq, comments: “European banks are subject to intense supervisory oversight and ever-greater reporting requirements, which is driving increasing demand for cloud-based platforms that can readily adapt to change while providing scalability and the highest standards of security.”
Future regulatory changes, such as the EU’s incoming Integrated Reporting Framework (IReF), will be integrated into the Nasdaq AxiomSL platform, ensuring timely and cost-effective compliance, says Nasdaq.
Founded in 2013, AuRep is a collaboration among major banks and financial service providers in Austria, designed to consolidate regulatory reporting infrastructure onto a single, shared platform.
Kenneth Born, CEO of AuRep, states: “Adapting this software in line with the Austrian Central Bank’s granular Integrated Reporting Data Model continues the success story of the Austrian standardised granular reporting platform.
“It enables banks to create and submit reports legally required under Austrian and European regulations, with tailored and efficient software in a consistent and highly standardised manner, while realising economies of share.”
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