Nasdaq has announced that it has expanded its strategic regulatory technology collaboration with Revolut, focusing on the deployment of Nasdaq AxiomSL.
Nasdaq AxiomSL is a regulatory reporting and risk platform leveraged by global systemically important banks (G-SIBs), allowing them to comply with domestic and international regulatory requirements.
Scalable compliance
Revolut has improved the majority of its regulatory reporting infrastructure across Europe, with the company most recently integrating all workflows in the UK. Expanding its strategic collaboration with Nasdaq is set to support Revolut’s global growth plans, ensuring efficient and scalable compliance with new requirements.
Additionally, Revolut has integrated Nasdaq AxiomSL to simplify reporting across several jurisdictions, minimising the complexity of maintaining separate reporting frameworks for each country. All applicable data points are merged across Revolut into a centralised platform, serving to enable the integrity of the underlying data and offer flexibility for reporting demands.
Furthermore, the platform functions as a ready-to-use managed service that runs in the cloud. Working in collaboration, Nasdaq’s team of experts manage and maintains the underlying infrastructure, including keeping pace with regulations across different regions and ensuring the systems run efficiently on a day-to-day basis. Through this approach, companies can focus on their core business activities while maintaining compliance with global rules. The platform automatically integrates regulatory changes and offers ongoing support.
Currently, Nasdaq’s technology is leveraged by over 135 market infrastructure providers across the globe, 35 central banks and regulatory authorities, and 3,800 clients across the financial services industry. By positioning itself as a scaled platform partner, Nasdaq draws on industry experience, technology expertise, and cloud managed service experience to support financial services companies in mitigating operational issues while assisting the modernisation of the industry.
The news comes just a few days after Revolut completed a share sale, which brought its valuation to USD 75 billion. Achieving this was supported by business growth and substantial financial performance.
