Nasdaq has announced a significant expansion of its regulatory technology partnership with global fintech firm Revolut, focusing on the deployment of Nasdaq AxiomSL, a regulatory reporting and risk platform. This platform is utilized by global systemically important banks (G-SIBs) to meet domestic and international regulatory obligations, and Revolut has now consolidated most of its European regulatory reporting infrastructure, including full integration in the United Kingdom.
The partnership aims to support Revolut's ambitious global expansion plans, which include targeting 100 million customers and entering 30 new markets over the next four years. Murray Laister, Head of Group Regulatory Reporting at Revolut, emphasized that as the company expands its global footprint, it is committed to ensuring infrastructure scales accordingly, offering flexibility, transparency, and control without hindering innovation. Ed Probst, Head of Regulatory Technology at Nasdaq, highlighted that Revolut is at the forefront of digital banking transformation, and the collaboration reflects a commitment to responsible innovation and scalable compliance.
Revolut's move comes amid regulatory scrutiny, including a 3.5 million euro fine in 2025 for anti-money-laundering deficiencies and a restricted UK banking license in 2024, underscoring the need for robust compliance systems. By centralizing data into a single platform, Revolut aims to streamline reporting across jurisdictions, reduce complexity, and enhance data integrity. Nasdaq's AxiomSL, acquired as part of the $10.5 billion Adenza purchase in 2023, is now embedded in Revolut's operations, with Nasdaq providing managed services, regulatory updates, and quality assurance to support day-to-day operations and future requirements.
