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.

Why Vizor SupTech platform for data collection and validation

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

Award-winning SupTech platform

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:

  • “Best Data Management Solution for Regulatory Compliance” at Central Banking’s FinTech & RegTech Global Awards.
  • “Best Technology for Regulatory Compliance” at Central Banking’s FinTech & RegTech Global Awards.
  • “Best RegTech Initiative and Regulator Reporting solution” at Regulation Asia Awards.
  • “Global Technology Provider of the year” at Central Banking’s FinTech & RegTech Global Awards, three consecutive years.

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.

 

Frequently asked questions about our Vizor SupTech platform

  • Is Vizor SupTech platform fit for my jurisdiction?

    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.

  • Why should I automate data collection process?

    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.

  • Should I buy SupTech software solution or build in-house?

    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.

 

Accelerate the collection and use of perfect data, and effectively manage licensing of regulated entities

  • Data collection, validation and visualization

    Our end-to-end integrated data collection software is trusted by regulators to reduce labour-intensive data collection processes and errors significantly. 

    • Collect regulatory return data periodically scheduled or ad hoc with a dynamic automated web portal.
    • Analyse your performance, expenditures and market share.
    • Right first-time returns data and automated validation. Collect conventional or highly complex data on a solo or consolidated basis.
    • Allow regulated entities to enter return data via web forms or upload in multiple formats, including MS Excel, XML and XBLR.
    • Correct submission data using a validation engine that ensures all data is submitted only in the values defined in the relevant standards and associated taxonomies. 
    • Automatically validate return data prior to submission in real-time or offline, depending on return complexity. Create and execute powerful validation rules that validate all data - across time, across returns and across dimensions.
    • Easily transform your GL, Core Banking, Data Warehouse or Excel files into the requisite XML and XBRL formats. Provide audit trail and trace the data points.
    • Visualize reported data in reporting templates or tables depending on the definitions by the ECB, EBA, EIOPA, BCBS and the IFRS. It is also possible to visualize data in custom-created templates and tables.
  • Licensing of regulated entities

    Our end-to-end integrated software enables regulators to automate licensing processes and easily maintain the master data profile of each regulated entity.

    • Collect and validate regulatory transactions, license application forms and process payments from market participants.
    • Streamline application and renewal processes with pre-built forms and associated workflows.
    • Enrol new market participants through an intuitive online portal.
    • Manage licensing and master data updates with processes built on an enterprise MDM system.
    • Speed up the implementation time for a new licensing and authorisation process by using pre-built forms and templates. Included templates cover most data collection requirements, such as entity profiles and regulatory transactions.
    • Simplify master data management. View a complete profile for each regulated entity or key individual, as well as their relationships with other parties, such as key individuals, and historical profile changes. 
    • Easily update and view a complete entity profile for each regulated entity, as well as their relationships with other parties and historical profile changes in a fully searchable repository of master data.

Selected use cases

The following scenarios are use cases from our customers who successfully use our Vizor SupTech platform to fulfill their regulatory and statistical reporting requirements.

EBA CoRep/FinRep XBRL data collection

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.

ECB insurance corporations statistics based on EIOPA Solvency II XBRL data

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.

ECB AnaCredit Reporting

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.

Simplify your data collection and future-proof your financial supervision. Talk to us.

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

Awards for innovation and expertise

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