Leading Australian financial institution selects Adenza’s granular data reporting
The solution includes Adenza’s AxiomSL EFS and Granular Data Reporting (GDR), ControllerView® data management capabilities, and RegCloud® for comprehensive data collection
Compelling Event and Decision Drivers
The need for big data, more data from siloed functions, and more granular data in addition to ever-changing regulatory requirements stresses financial institutions’ infrastructures and ability to timely comply with differing regulatory formats. With comprehensive data collection coming into force, efficient data management becomes even more crucial, prompting organizations to embark on modernization programs and solutions that better align with business and regulatory needs.
Being fully familiar with the Adenza’s AxiomSL ControllerView platform and solutions from a previous bank, the team charged with evaluating a granular data reporting solution was able to strongly recommend Adenza over the incumbent. They determined that given the client’s complex data management challenges, it would deliver the required end-to-end solution of aligning granular data outputs with the standard APRA EFS reporting. In addition to stellar data management capabilities, this single platform solution also provides cross-validation rules between APS 220 granular datasets and the standard APRA Connect submission format, thus futureproofing it for similar 2023 APRA initiatives. As an early adopter, the client was also very happy to learn about Adenza’s RegCloud option and Regulatory Change Services (RCS) for regulatory updates.
Adenza’s AxiomSL Granular Data Reporting Offering
The GDR solution leverages APRA’s taxonomy to deliver complex deal-level data collection, categorization, and calculation requirements. It also fully accommodates APRA’s data modernization expectations and transition to require much more granular data, starting with credit data. This offering enables institutions to optimize data management and easily adapt to and execute against challenging regulatory requirements and scale for future requirements.
The antithesis of a black box, the AxiomSL ControllerView data integrity and control platform delivers transparency across fully automated processes from data ingestion to report submission, enabling clients to access accurate, transparent, granular data and meet a range of regulatory reporting requirements, regardless of jurisdiction. This data-driven enterprise platform also seamlessly delivers workflow automation and controls, validation, calculation, drill-down, data lineage and traceability, analytic dashboards, and reporting.
RegCloud amplifies ControllerView’s capabilities while taking full advantage of sophisticated cloud-environment features including scalability, security, and automation. Post implementation, RegCloud clients have service continuity with RCS. This team, intimately knowledgeable about ControllerView, client-implemented solutions and RegCloud, manages the deployment of regulatory and regulatory-calculation updates in a controlled update cycle, further minimizing any risk of non-compliance.
Key Benefits
GDR solution benefits also include a data management and integration layer that enables clients to:
- Populate forms based on information included in the solution or manually amend information displayed on the report.
- Perform tasks including data validation, storage, transformation, exceptions, enrichment, loading.
- Produce reports regardless of jurisdiction/regulation. Adenza maintains 3,500+ reports.
We are delighted to offer a strategic framework for GDR requirements that not only enables ADIs to modernize data management in accord with regulatory objectives throughout Asia Pacific, but also creates synergies between risk and finance functions to optimize capital and stimulate business insights. With the ControllerView platform in place, clients can adapt to change, reduce TCO, and benefit from the regulatory impetus of GDR.
- RG Manalac, Managing Director, Head of Sales, Asia Pacific, Adenza
