Financial Services Organisations
Regscape empowers banks, insurance companies, pension funds and asset managers to adopt a unified view of all their regulatory, statutory and ESG reporting; Regscape’s Regulatory Platform will effectively manage and largely automate all processing for both financial regulatory reporting and ESG filings, also providing a single enterprise wide analytics interface for all stakeholders to access the reports, dashboards, and interactive analytics.
Banks
With disparate and siloed solutions impeding streamlined workflow and collaboration, banks are seeing regulatory expenses balloon, both in terms of TCO associated with tools, but more importantly in terms of the resources required for error correction, growing data volumes, maintaining consistency, providing adequate audit trails, lineage, and lack of adequate analytics.
Regulatory Platform for Banks
Regscape’s Regulatory Platform will allow centralized monitoring of the closing processes, and provide a collaborative framework to work across teams during the closing, including messaging, comments, task management, governance and risk compliance.
| XBRL | loading, generation and validation across taxonomies |
| Collaboration | process workflow and monitor, share analytics and calculations |
| Central archiving | Central archiving |
| Validations | guided validation & issue resolution |
| Form review | picture perfect review |
| Data entry | form based data entry / corrections / calculations |
| Interconnectivity | work across disparate operating models |
| Embedded analytics | pre-built reports / dashboards and self-service |
| Connectivity | database, warehouse, lake, csv/xml/json/xls |
| Lineage & audit trail | stores data points across transformations |
| Reconciliation | GL vs transactional, subledger, engines |
XBRL
loading, generation and validation across taxonomies
Collaboration
process workflow and monitor, share analytics and calculations
Central archiving
central archiving
Validations
guided validation & issue resolution
Form review
picture perfect review
Data entry
form based data entry / corrections / calculations
Interconnectivity
work across disparate operating models
Embedded analytics
pre-built reports / dashboards and self-service
Connectivity
database, warehouse, lake, csv/xml/json/xls
Lineage & audit trail
stores data points across transformations
Regulatory Analytics for Banks
A fully pre-built analytics framework to enable banks to simply upload their historical XBRL filings to review their filings data through a portfolio of hundreds of pre-built dashboards and forms. Importantly, the current filing data can be seen in the context of historical trends, including outlier detection, like for like benchmarking, consistency and validations.
With the optional Regscape Connector to the bank’s calculations and XBRL engine, Regscape provides full lineage to calculation engines, datawarehouse, GL and transactional systems.
ESG Reporting for Banks
Regscape’s ESG platform for banks provides for data capture, either through template data entry or through external ESG data load, ESG assessments, integration with transactional data, and regulatory ESG report generation.
Insurance
Regulatory Reporting – The Problem
Insurers are subject to one of the most complex regulatory environments in existence today. This has grown exponentially over the years with Solvency II, GAAP, IFRS 9/17/4 and now ICARA and ESG have been added to the list. For the last few years IFRS 17 has been all-encompassing for insurers. But as insurers emerge from their projects, CFOs will have to deal with the inherent problems revolving around their actuarial, finance and reporting systems. For many CFOs this will involve a finance transformation project of which, regulatory reporting is a critical element.
However, the regulatory reporting process is inherently complex. It commences with the consolidation of a significant volume of data from various sources. Subsequently, it involves careful steps such as data validation, transformation, aggregation, complex calculations, and the creation of comprehensive accounting and reporting templates. The culmination of this process involves the critical submission of these reports to regulatory bodies, often referred to as the ‘last mile.’
Regulatory Reporting – The Solution
No single solution can be the answer to all the challenges in the regulatory reporting process . Consequently, for most insurers the solution will lie of existing systems and best of breed components integrated seamlessly together. The Regscape Reporting Platform can be one such component focussing on the last mile and insightful analytics.
Regscape streamlines and simplifies the end to end reporting process, automating repetitive manual operations. The platform combines pre-built and custom analytics coupled with an AI engine to provide genuine insights and sophisticated validation rules to ensure that every cell in the taxonomy is accurate, ensuring rigorous data integrity. At the end of the process it generates the XBRL files ready for submission to the regulators’ portal.
Leverages Existing Systems
Regscape leverages the existing data and reporting infrastructure, with a modular design ensuring a short implementation timelines and a direct return on investment. Effecively it overlays your existing regulatory reporting environment.
The design enables the Platform to operate independently but can be extended to supplement and improve your entire regulatory process, including data lineage, XBRL validation and processing, source data flow automation, data quality management, reconciliation and audit trail.
Key Features
Advanced Regulatory Platform
One centralised, automated solution for all insurance regulatory filings
XBRL/iXBRL
Pre-built templates for all mainstream insurance fillings SII, IFRS, GAAP etc, fully maintained and updated by Regscape. New taxonomies in multiple regions can absorbed almost instantly! Real-time XBRL taxonomy checks are enhanced with additional cross-model checks provided by regulators and cross-taxonomy checks
New Taxonomies
New taxonomies can be converted and absorbed into the solution almost instantly. This flexibility makes Regscape the perfect solution for multi-national and regional insurers
Validation Rules
Extensive library of validation rules to reduce errors and improve accuracy! Users can create their own custom rules.
Reconciliation
Reconciliation between source systems and GLs. Delta analysis between reporting regimes eg SII v IFRS17 can be configured
Collaborative Workflow
Manages, governs and automates the whole process and reduces costs
Seamless Integration
Pre-built adapters to ensure maximisation of existing systems
Secure Governance Framework
Provides enterprise class user security and full audit controls for complete confidence in submissions.
Modular Solution
Modular solution, allowing insurers to tailor the functionality to their specific needs and offering step by step implementation
Key Features
Advanced Regulatory Platform
One centralised, automated solution for all insurance regulatory filings
XBRL/iXBRL
Pre-built templates for all insurance fillings SII, IFRS, GAAP etc. Fully maintained and updated by Regscape. New taxonomies absorbed in days! Real-time XBRL taxonomy checks, but also additional, cross-model checks provided by regulators and cross-taxonomy checks.
Validation Rules
Extensive library of validation rules to reduce errors and improve accuracy
Reconciliation
Reconciliation between source systems and GLs. Delta analysis between reporting regimes eg SII v IFRS17
Collaborative Workflow
Manages, governs and automates the whole process and reduces costs
Seamless Integration
Pre-built adapters to ensure maximisation of existing systems
Secure Governance Framework
Provides enterprise class user security and full audit controls for complete confidence to both internal stakeholders and auditors
Modular Solution
Modular solution, allowing insurers to tailor the functionality to their specific needs and offering step by step implementation
Regulatory Analytics for Insurance
A key differentiator of Regscape is the advanced analytics built into the solution. This is powered by the Pyramid Platform which not only provides analytics it also incorporates industry leading AI capabilities. The pre-built dashboards and reports that can be quickly customised to an insurers needs . Equally custom reports can be developed by users focussing on their individual needs. The core offering relates provides Regulatory analytics but can be extended to enterprise wide analytics and easily linked in with existing systems and data marts.
A good illustration of the business analytics is Solvency II where a CFO dashboard can can be configureds to generate key metrics such as SCR/MRC, Own Funds, Loss Absorbency, Solvency Ratio etc..
- Pre-built and custom reports and dashboards
- Analysis across current fillings and historic fillings
- Identification of trends and outliers using AI
- Forecasting into the future
- Automatic alerts generated if prescribed limits or conditions are breached
With disparate and siloed solutions impeding streamlined workflow and collaboration, Pension funds find it difficult to incorporate actuarial expertise without resorting to manual interventions and spreadsheets, weak or absent audit trail, data sourcing issues, costly resources going into work and re-work, under the always present timeline pressure.
Regulatory Analytics for Pension Funds
The platform can be connected to actuarial systems to integrate actuarial inputs into the programmatic workflow.
Regscape’s ESG platform for pension funds provides for ESG data capture, external ESG data loads, ESG assessments, integration with transactional data, ESG report generation (regulatory) and as a corporate.
- Validate instances during processing and error correction
- XBRL processing on form / template level, or transactional data
- Load XBRL for analytics and reporting
- Generate XBRL instance from template or transactional data
Asset Managers
Asset Managers are expected to be able to provide a rigorous assessment of the ESG ratings on their portfolio, yet most are ill equipped to do so. Manual spreadsheet assessments are quickly becoming tedious and difficult to maintain, with little or no audit trail.
Regulatory Analytics for Asset Managers
Regscape allows Asset Managers to easily generate and validate their XBRL filings and get immeidate access to rich pre-built dashboards and forms, outlier detection, like for like, benchmarking, consistency and validations.
Our platform is designed to cope with the special requirements for Asset Managers and is preconfigured to work with large amounts of funds data sets.
Our architecture supports asset managers in their end-to-end regulatory process from external data storage, transactional data storage to regulatory filings and disclosures.
Over de cause of the next year(s) we will start integrating ESG reporting as an integral part of the regulatory/statutory process.
In order to support our clients we offer a comprehensive suite of products for Regulatory processing, statutory reporting, financial consolidation and with our partners we also supply integrated disclosure management and tax calculation and reporting. All these offerings are complemented with our pre-built analytical layer providing instant access to a wide range of dashboards and reports
ESG Reporting for Asset Managers
Regscape’s ESG platform for Asset Managers provides for ESG data capture, external ESG data loads, ESG assessments, integration with transactional data, ESG report generation (regulatory) and as a corporate.