Featured Product

    APRA Selects Vizor Software to Develop New Reporting Solution

    April 01, 2019

    APRA selected an international consortium to deliver the new Data Collection Solution that will be used across the financial sector to meet data reporting requirements. It selected a software system developed by the Irish company Vizor Software to replace its existing data reporting system, Direct to APRA (D2A). Furthermore, Dimension Data from Australia was selected to deliver the new solution, which will be used by more than 4,500 financial sector entities to meet their regulatory reporting requirements to APRA. The new Data Collection Solution is due to come online in March 2020, following further engagement with industry involving testing and training on the new system.

    The joint tender by the companies was chosen from among a field of domestic and international companies and consortia that responded to last August’s Request for Tender, seeking an off-the-shelf, minimally customized solution to become the new data collection system of APRA. The new Data Collection Solution will replace the D2A system, which was released in 2001 and has become increasingly challenging for both industry and APRA to use and maintain. In its place, Vizor will provide a modern, efficient, web-based system, improving the core data collection capabilities of APRA. Vizor Software has a proven track record, having provided the platforms that are used by a number of APRA’s international peers for regulatory data submissions. APRA will shortly release an initial implementation plan outlining more details of its roll-out plan.

    Replacing D2A with the new Data Collection Solution is part of the broader data modernization program, designed to ensure that APRA keeps pace with advancements in data, analytics, and technology. APRA has formed three groups to provide guidance and direction for key decisions and how to implement the transition from D2A—namely, Strategic Industry Reference Group, Technical Working Group, and Software Vendor Working Group. According to APRA, the new solution is expected to adapt as reporting requirements and technology continue to evolve, will reduce the ongoing maintenance and support costs, and will feature a modern, intuitive user interface.

     

    Related Links

    Keywords: Asia Pacific, Australia, Banking, Insurance, D2A, Data Collection Solution, Reporting, Vizor Software, APRA

     

    Featured Experts
    Related Articles
    News

    BOE Sets Out Its Thinking on Regulatory Capital and Climate Risks

    The Bank of England (BOE) published a working paper that aims to understand the climate-related disclosures of UK financial institutions.

    March 13, 2023 WebPage Regulatory News
    News

    OSFI Finalizes on Climate Risk Guideline, Issues Other Updates

    The Office of the Superintendent of Financial Institutions (OSFI) is seeking comments, until May 31, 2023, on the draft guideline on culture and behavior risk, with final guideline expected by the end of 2023.

    March 12, 2023 WebPage Regulatory News
    News

    BIS Paper Examines Impact of Greenhouse Gas Emissions on Lending

    BIS issued a paper that investigates the effect of the greenhouse gas, or GHG, emissions of firms on bank loans using bank–firm matched data of Japanese listed firms from 2006 to 2018.

    March 03, 2023 WebPage Regulatory News
    News

    HMT Mulls Alignment of Ring-Fencing and Resolution Regimes for Banks

    The HM Treasury (HMT) is seeking evidence, until May 07, 2023, on practicalities of aligning the ring-fencing and the banking resolution regimes for banks.

    March 02, 2023 WebPage Regulatory News
    News

    BCBS Report Examines Impact of Basel III Framework for Banks

    The Basel Committee on Banking Supervision (BCBS) published results of the Basel III monitoring exercise based on the June 30, 2022 data.

    February 28, 2023 WebPage Regulatory News
    News

    PRA Consults on Prudential Rules for "Simpler-Regime" Firms

    Among the recent regulatory updates from UK authorities, a key development is the first-phase consultation, from the Prudential Regulation Authority (PRA), on simplifications to the prudential framework that would apply to the simpler-regime firms.

    February 28, 2023 WebPage Regulatory News
    News

    DNB Publishes Multiple Reporting Updates for Banks

    DNB, the central bank of Netherlands, updated the list of additional reporting requests and published additional data quality checks and XBRL-Formula linkbase documents for the first quarter of 2023.

    February 28, 2023 WebPage Regulatory News
    News

    NBB Sets Out Climate Risk Expectations, Issues Reporting Updates

    The National Bank of Belgium (NBB) published a communication on climate-related and environmental risks, issued an update on XBRL reporting

    February 24, 2023 WebPage Regulatory News
    News

    EBA Updates Address Securitization Standards and DGS Guidelines

    The European Banking Authority (EBA) published the final draft of the regulatory technical standards that set out conditions for assessment of homogeneity of the underlying exposures in simple, transparent, and standardized (STS) securitizations.

    February 21, 2023 WebPage Regulatory News
    News

    FSB Publishes Letter to G20, Sets Out Work Priorities for 2023

    The Financial Stability Board (FSB) published a letter intended for the G20 Finance Ministers and Central Bank Governors, highlighting the work that FSB will take forward under the Indian G20 Presidency in 2023

    February 20, 2023 WebPage Regulatory News
    RESULTS 1 - 10 OF 8793