Data collection and licensing
Reduce the cost and time of collecting high-quality data at scale
The volume and complexity of data collected and validated by central banks, regulators and supervisory authorities are increasing rapidly. As data becomes more granular and the regulatory perimeter increases, manual legacy systems cannot scale to deal with the challenge. This leads to high costs, slow responses and imperfect data. Our trusted out-of-the-box software helps regulators efficiently manage the exponential increase in data and increasingly complex data formats and workflows. Our software automates data collection and validation. It frees our customers up to focus on their primary tasks and core activities of maintaining the integrity of the financial system and protecting consumers.
Vizor SupTech platform best met APRA’s need for a modern, efficient and user-friendly data collection system that would adapt as technology evolved. We are confident that the partnership will allow financial companies to report data to APRA more quickly, efficiently and accurately.
Sean Carmody, Executive Director for the Cross-Industry Insights and Data Division, APRA
Our product has been honored by leading analysts and industry-specific reports. The Basel Committee on Banking Supervision quoted our SupTech platform in its consultation paper titled “Implications of fintech developments for banks and bank supervisors”. Throughout the years, we have been recognized as the:
In 2022, we have won Central Banking Award in the “Technology Services – Regulatory” category and in the category “Supervisory Technology” in the Chartis RiskTech100® 2022 report. We have also been listed as a “Category leader” in the Chartis Regulatory Reporting 2022 Quadrant report, and one of the most innovative RegTech companies by RegTech Analyst.
Yes, our out-of-the-box financial regulation software is fit for your jurisdiction. We help central banks and supervisory authorities in more than 30 jurisdictions, including Europe, North America, Asia-Pacific, Africa, Middle East. Our software supports the entire supervisory lifecycle in any jurisdiction, providing high-quality data and analysis allowing financial regulators to make the right supervisory decisions.
The scale and complexity of financial data reporting requirements are increasing at a pace. Automating the process removes errors, reduces manual effort and speeds up the regulatory reporting process. Our self-service tool enables financial regulators to easily create, customise and configure new data collections. The powerful metadata management tool allows for modifying and extending data collections more quickly and cost-effectively. We provide a comprehensive training program and refreshers courses for users to ensure they exploit all capabilities of the tool, making their job more efficient.
When evaluating whether to buy or build in-house software, you need to consider two main factors - the levels of capital and human investment both initially and into the future. Many organisations underestimate the level of investment and internal expertise required to build a bespoke system that will always meet regulatory standards. In practice, developing an in-house software solution for financial regulation has been shown extremely difficult to achieve and maintain. We have built a team of domain specialists, subject matter experts and industry thought leaders over the last 20 years. Our specialist technology and experience enable us to deliver projects within an agreed scope and timeframe. Every customer is assigned a dedicated project team and works closely with us in tailoring the solution to fit their specific needs. With a commercial off-the-shelf solution, you will benefit from the experiences of other users of the same product, which helps to ensure a stable and field-tested system. In addition, the product roadmap and future improvements are collaboratively designed with all customers, reducing development and maintenance costs.
Vizor SupTech platform is end-to-end integrated data collection software trusted by regulators to reduce labour-intensive data collection processes and errors significantly. Its various modules can be individually combined according to the specific needs of supervisors. It enables automation of licensing processes and easy maintenance of the master data profile of each regulated entity. Our solution covers the entire process chain – from collection to screening, validation, workflow management and analysis to the final remittance of regulatory and statistical data.
Our end-to-end integrated data collection software is trusted by regulators to reduce labour-intensive data collection processes and errors significantly.
Our end-to-end integrated software enables regulators to automate licensing processes and easily maintain the master data profile of each regulated entity.
The following scenarios are use cases from our customers who successfully use our Vizor SupTech platform to fulfill their regulatory and statistical reporting requirements.
Central banks use our solution to collect CoRep/FinRep XBRL instances from financial institutions. After loading, visualizing, validating and analyzing the submitted data, it is remitted to the EBA.
Our solution is also used to aggregate EIOPA Solvency II data to calculate and remit statistical information defined by the ECB’s 2014 regulation on statistical requirements for insurance corporations.
Central Banks use our solution to collect, analyze and submit credit data at a very granular level according to the ECB’s reporting requirements associated with the AnaCredit (Analytical Credit Dataset) project.
Vizor SupTech platform enables a number of data collections at the Bank. This new platform has an advanced toolset that can rapidly adapt to meet future needs.
Beju Shah, Domain Lead - Data Collection & Publication, The Bank of England