Axiom Bank Deepens Fintech Partner Oversight with a Single, Connected Platform
Axiom Bank
"Themis has been an extraordinarily open partner. We seem to be building together. Themis brings their ideas to us and we bring ours to them. Their success and our success seem one and the same."
- Jeff Donovan, SVP, Head of Partner Banking Oversight
Axiom Bank is a growing partner bank managing a complex ecosystem of fintech partnerships. As its program matured, so did the demands on its risk and compliance teams, requiring more documented, provable oversight. A formal agreement with the OCC accelerated the need for a purpose-built GRC solution, and Axiom selected Themis to house compliance workflows, evidence, and reporting in one place.
Prior to leveraging Themis more deeply, Axiom's compliance operations relied on a mix of low-tech tools, such as Excel, file-sharing software, and other internal GRC technologies, none of which were built with connectivity in mind. The core challenge wasn't a lack of process; it was the inability to prove, document, and tell the story of the work being done. As Jeff put it: "How do we take credit for what we do? How can we prove that out and bring consistency to critical processes in the life cycle of partner management and risk and control identification and handling?"
Siloed tools meant data had to be manually reconciled across systems, with no clean audit trail to show regulators and auditors. Beyond documentation, the bank also needed to move from schedule-driven audits toward real-time, risk-driven monitoring, which was a shift that required purpose-built technology.
Axiom selected Themis to mature its compliance processes and bring greater structure to its partner banking oversight program, leaning into Themis across several key areas.
"Themis is a workflow GRC tool that is massively customizable. Every bank is different: different systems, different workflows, different risk frameworks. That's part of [Themis's] differentiator. Being able to work with the Themis team to customize those workflows to fit the way we approach risk mitigation has been invaluable."
— Chris Rigoni, EVP, Head of Partner Banking and Payments, Axiom Bank
Because Axiom runs processes unique to its organization, like exception handling in merchant onboarding, off-the-shelf tools often fell short. With Themis's custom module builder, the team quickly built tailored solutions for these needs.
These modules replaced multiple Excel-based processes with a single, documented workflow, complete with approval trails and clear accountability. Instead of hunting through email during an audit, the team now has one source of truth with exportable audit trails on demand.
Axiom is building out its risk and control inventory in Themis, moving from searching for risk to managing it proactively. "How do we stop hunting for risk and start using data to know where it is," Jeff said, "and then use our talents to analyze and remediate?"
What Axiom values most is Themis's responsiveness, prioritizing enhancements on a timeline larger, less nimble platforms can't match. "The half-life on getting a good idea implemented is much simpler with Themis versus larger tools that are less nimble or malleable," Jeff noted.
Since implementing Themis, Axiom has replaced fragmented, manual processes with a documented and consistent compliance framework. In a landmark outcome, the OCC lifted its formal agreement with the bank, a testament to the work done across people, process, and technology in just over 18 months. The bank now has:
Chris Rigoni, who joined Axiom to lead the remediation effort, called people, process, and governance the hardest part of the work, with Themis central to operationalizing those foundations. "It provides workflow and a place to really house everything we needed to report back to examiners for evidence and reporting," he said. With the agreement lifted, Axiom is actively pursuing new fintech partnerships.
Looking ahead, Axiom sees Themis as key to scaling compliance without scaling headcount. "I have high hopes for gaining additional efficiencies over time," Jeff said, "because we're able to write the script on what Themis does."
Ensure marketing compliance with a central repository of creatives that streamlines communication, collaboration, approvals, and maintains an audit trail.
Centralize customer complaint management for efficient tracking, resolution, and compliance.
Improve risk mitigation and efficiency by inventorying controls, scoring effectiveness, assigning ownership, and linking to risks.
Inventory company risks, assign ratings, and link controls for mitigation.
