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Solvency II Pillar 3 Reporting

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Solvency II


DataTracks’ Solvency II Pillar 3 reporting SaaS is easy to use, providing EIOPA mandate validations and rendering high-quality reports. Hosted on a private cloud, it gives you complete control and security over your data. An important challenge faced by financial services organisations is that the source data required for generating the regulatory reports is scattered across many different systems, business units and even regional locations. DataTracks’ Solvency II Pillar 3 reporting solution is designed to integrate relevant data from multiple sources and consolidate this into a single view for regulatory reporting.

Features


Flexible Data Entry
Our solution allows three methods of data entry. First, a simple manual entry. Secondly, automated mapping of data from source files in spreadsheets directly to a relevant cell and thirdly by interfacing directly with the underlying financial systems

Collaborate between users
Enables reviewing, commenting and moderating files concurrently between users. Our spreadsheet-like interface permits easy navigation and control for quick execution.

Compare versions

Gives users the ability to compare filings to prior periods to ensure consistency of filing.

Validate report conforming to EIOPA business rules
Inbuilt validation engine ensures that your report adheres to the EIOPA’s latest validation rules. Errors listed out can be viewed online as well as downloadable as spreadsheet. Possible corrections are also suggested thereby reducing review time.

Audit Trail
Out solution maintains a cell by cell, user specific audit trail providing the ability to track any changes that are made to a particular cell and also highlights the user accountable for the change.

Agility to regulatory changes
Along with the enactment of regulations, market has witnessed that guidelines can be improved and modified during and after implementation. Aware of this fact, DataTracks solution is designed to be agile and adaptable, responding to regulatory changes quickly. For our clients this translates into better efficiency and reduced total cost of ownership.

Benefits

  • Robust validation mechanisms to generate error-free reports
  • Prompt updates to taxonomy
  • World-class customer support
  • Client references
    • Flexible data input methods
    • Familiar spreadsheet-like user interface
    • Validation errors highlighted in early stages of data input
    • Collaboration between users with comments
    • Hosted in Tier 1 secure cloud
    • ISO certified
    • Granular audit trial
    • Role-based user-access privileges
    • Flexible pricing model based on filing frequency
    • Discounts on volume and multi-year contracts

    Why DataTracks


    We are regulatory reporting experts

    90% of our employees are finance experts with XBRL skills and knowledge in multiple accounting standards and regulations. We have prepared compliance reports for over 12 regulators.

    We have proven track record

    Built on 13+ years of experience, we have successfully delivered more than 160,000 compliance reports to over 14000 clients.

    Customers love us!

    We celebrate our customers’ success and about 90% of our customers over the years have used our services again.

    We assure data confidentiality

    All your data is stored securely in firewall-protected data centres located in European cities.

    We care about quality and accuracy

    We strive to maintain the highest standards in terms of quality. We rank among the top providers in quality surveys.

    We price it right

    Our cost savings as a result of efficient global operations mean competitive prices for our clients.

    160000 compliance reports
    14000 Clients
    12 Regulations
    13 years experience



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    Featured Content



    Blog

    The challenges of Solvency II reporting

    08/07/2018 ||By: Karthik Sathuragiri

    Recently, InsuranceERM released an article arguing that most Solvency II reporting mistakes happen in solvency ratios. The findings were based […]


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    News on reforms in Solvency II risk margin for UK entities

    06/26/2018 ||By: Prakash R

    The UK regulator – Prudential Regulatory Authority (PRA) – has concerns that the build-up of offshore reinsurance by undertakings can […]


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    Solvency II: PRA Issues Consultation Paper on Modelling of Volatility Adjustment

    05/09/2018 ||By: Amruth

    Although Solvency II is now well and truly in force, the Prudential Regulation Authority (PRA) continues to publish a number […]



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