FDIC Part 370 solution
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For End Users
You can activate this feature and other links for ALL VENDORS with a VendorMatch Premium subscription. Additionally you can gain access to an increased depth of data, summary reports, RFX reports (detailed completed RFIs - available to financial institutions only) and comparison grids. Please click here for more information.
For Vendors
Vendors can activate their links and gain access to analytics by upgrading to VendorMatch PRO. Please click here for more information.
Speak with an analyst
Financial institutions and their advisors can subscribe to our Analyst Access* service. Effectively phone or (email) a friend you can have on tap advice and support provided by our analysts on this vendor, solution or solution category.
HOW TO SUBSCRIBE
To protect vendor data only financial institutions and recognized advisors can subscribe to VendorMatch Premium. Please click here for more information.
or contact us to discuss a subscription.
Subject to reasonable use.
Survey Summary
The Survey Summary provides a download of the vendor profile, solution profile and the VendorMatch Discovery survey vendor responses used to power the directory. All responses are provided by the vendor online.
Note that this report is a high level summary of the vendor's credentials and a solution's capabilities designed to assist with solution short-listing. The RFX report is the more comprehensive Request For Information report designed to support evaluation and selection, this will only show where the vendor has completed the "RFX" RFI.
HOW TO SUBSCRIBE
To protect vendor data only financial institutions and recognized advisors can subscribe to VendorMatch Premium. Please click here for more information on Premium features or contact us.
RFX Report
The RFX report is an XLS download of the Vendors response to the “RFX” Request for Information for this solution.
The RFX is a centralized golden copy of a RFI authored by our analysts based on their expertise in running real-life system evaluation and selection projects and completed by the vendor online.
Note to protect vendor that only Financial Institutions and recognized Advisor can subscribe to this feature.
In each instance the first time the link is used the user requests permission to access the RFX report and it is the vendor who is required to authorizes access. You will be alerted when the vendor has reviewed your request and granted permission.
HOW TO SUBSCRIBE
Please click here for more information on Premium features or contact us.
To learn more about subscribing to our service options, please contact us here
This feature is upgradeable
For End Users
You can activate this feature and other links for ALL VENDORS with a VendorMatch Premium subscription. Additionally you can gain access to an increased depth of data, summary reports, RFX reports (detailed completed RFIs - available to financial institutions only) and comparison grids. Please click here for more information.
For Vendors
Vendors can activate their links and gain access to analytics by upgrading to VendorMatch PRO. Please click here for more information.
Speak with an analyst
Financial institutions and their advisors can subscribe to our Analyst Access* service. Effectively phone or (email) a friend you can have on tap advice and support provided by our analysts on this vendor, solution or solution category.
HOW TO SUBSCRIBE
To protect vendor data only financial institutions and recognized advisors can subscribe to VendorMatch Premium. Please click here for more information.
or contact us to discuss a subscription.
Subject to reasonable use.
Survey Summary
The Survey Summary provides a download of the vendor profile, solution profile and the VendorMatch Discovery survey vendor responses used to power the directory. All responses are provided by the vendor online.
Note that this report is a high level summary of the vendor's credentials and a solution's capabilities designed to assist with solution short-listing. The RFX report is the more comprehensive Request For Information report designed to support evaluation and selection, this will only show where the vendor has completed the "RFX" RFI.
HOW TO SUBSCRIBE
To protect vendor data only financial institutions and recognized advisors can subscribe to VendorMatch Premium. Please click here for more information on Premium features or contact us.
RFX Report
The RFX report is an XLS download of the Vendors response to the “RFX” Request for Information for this solution.
The RFX is a centralized golden copy of a RFI authored by our analysts based on their expertise in running real-life system evaluation and selection projects and completed by the vendor online.
Note to protect vendor that only Financial Institutions and recognized Advisor can subscribe to this feature.
In each instance the first time the link is used the user requests permission to access the RFX report and it is the vendor who is required to authorizes access. You will be alerted when the vendor has reviewed your request and granted permission.
HOW TO SUBSCRIBE
Please click here for more information on Premium features or contact us.
To learn more about subscribing to our service options, please contact us here
Overview
AxiomSL’s data-driven platform empowers Covered Institutions (CIs) to comply with the final rule requirements and timelines. The solution includes a complete data dictionary and standardized data model. The platform provides a robust data management architecture that directly maps to the source data. This enables CIs to streamline and optimize their operational processes. For instance, the platform can quickly and accurately calculate the deposit insurance for each account. It creates a record of the deposit insurance calculations showing how much of the deposit account is insured and uninsured as well as the ownership privileges. Further, it identifies the entire account and customer relationship and puts it into required FDIC regulatory outputs.
By loading all the information into AxiomSL’s platform, the FDIC Part 370 solution enables CIs to determine which required attributes of data are present and which are missing. They can identify, source and normalize key data elements that are required for the insurance calculation algorithm, output files and accompanying analytic reports. Account classifications and calculations are done at the deposit, account owner and account participant levels, depending on the ownership right and capacity type. The solution determines the uninsurable amounts by account owner and applies the amounts to account owners’ deposits.
The solution allows insured depository institutions to meet the requirements by providing an IT control framework, standardizing data attributes, generating the four FDIC output files and producing control, summary and reconciliation reports (e.g., to the Call Report). Visualization tools not only make the process completely transparent, but also make it easier to sign off and attest to the results. An added benefit is that the data can be re-used to produce other regulatory reports.
Key Features
- Standardizes data attributes
- Insurance calculation algorithm
- Generates mandated FDIC output files
- Enables external analytics
- Built in attestation and sign off framework
- Provides reporting extensions (call report, fr 2052a)
- Establishes it control framework
Key Benefits
- Lowers compliance costs by providing a one-stop solution with a complete view into deposit systems and records
- Provides an out-of-the-box solution with a defined data dictionary and model to satisfy all regulatory requirements
- Comprises a strategic data-driven solution with complete transparency, drill down and clear audit trail
- Empowers clients with a flexible, transparent, auditable and performance-driven product