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

Consolidate data from disparate systems

An important challenge faced by the financial services organization 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 into a single view for regulatory reporting.

DataTracks Solvency II Pillar 3 solutions allows three methods of data entry:

1. Simple manual entry
2. Automated mapping of data from source files directly to a relevant cell, ensuring consistency
3. Direct import and export of templates using spreadsheets.

Collaborate with users across departments/regions

DataTracks Solvency II Solution enables reviewing, commenting and moderating files concurrently and with ease. Our spreadsheet-like interface is designed for easy navigation and control for quick execution. You don’t have to be an XML expert. Our automated conversion process limits manual intervention saving you time and effort.

In built validation engine

An in-tool validation engine for Solvency II software ensures that your XBRL filing adheres to EIOPA’s latest validation rules. Errors are listed out in reports that can be viewed online as well as downloaded in Excel formats. Possible corrections are also suggested, to reduce review and rework time.

Version Control and Audit Trail

DataTracks Solvency II solution implements robust version control and audit trail mechanisms. Version Control feature allows users to compare changes and filings in prior period for data consistency. Cell by cell audit trail is maintained for every user. Information about any changes to a cell and about the user responsible for making the changes can be retrieved.

Secure and Scalable Solution

DataTracks Solvency II reporting solution is hosted on a private cloud with no associated hardware or maintenance costs. Roles-based security model enables the administrator to determine which users have access to different groups of information within the application. The solution is provisioned for automatic scaling and disaster recovery.

Agile and Future proof

Regulations and taxonomies change frequently, either as scheduled evolutions or as dictated by the requirements of the regulator. Aware of this fact, DataTracks Solvency II compliance solution has been designed to be agile and adaptable, responding to regulatory changes quickly, thus future-proofing the solution for tomorrow. For our clients this translates into better efficiency and reduced total cost of ownership.

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