Revolut is adopting a regulatory reporting and risk platform from Nasdaq to bolster its global growth ambitions.
The focus of this partnership is the implementation of Nasdaq AxiomSL, a compliance platform utilized by 90% of the world’s systemically important banks to meet both domestic and international regulatory requirements.
Revolut has integrated a majority of its regulatory reporting infrastructure across Europe, recently completing this process in the United Kingdom. This collaboration aims to support Revolut’s expansion efforts, with a target of reaching 100 million customers and entering 30 new markets in the next four years.
Murray Laister, head of group regulatory reporting at Revolut, noted, “As we expand our global footprint, we are committed to ensuring our underlying infrastructure scales with us and strengthens our ability to operate.”
By embedding Nasdaq AxiomSL, Revolut aims to simplify reporting processes across various jurisdictions, eliminating the challenges of managing separate reporting systems for each country. The platform consolidates all relevant data points into a centralized system through a managed service hosted in the cloud.
Nasdaq’s team of experts oversees the infrastructure, adapting to changing regulations while ensuring smooth daily operations. Laister added, “Our partnership with Nasdaq offers the flexibility, transparency, and control necessary to meet regulatory expectations across jurisdictions without hindering innovation and growth.”