OneSumX AnaCredit
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OneSumX AnaCredit

  • For years, regulatory reporting on an aggregate level via static reports has been the norm for financial institutions. However recent times have shown that regulators are moving to the next level in terms of their appetite for more detailed and granular data. One of the most demonstrable examples of this is the Analytical Credit Dataset (AnaCredit) project which introduces a step-change in the amount of data that is required to be reported on such a frequent basis – daily in some cases.

    All affected firms will be expected to have up-to-date expertise around data requirements and local discretions, as well as processes in place to monitor further stages that could affect both their single and multi-country operations in the future. Firms also need powerful reporting and data lineage tools in place which are essential to quickly pinpoint the biggest blockers to straight through processing, enabling firms to prioritize effort and allocate resources.

    OneSumX AnaCredit Architecture

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    Our integrated, scalable OneSumX AnaCredit solution uses grid and in-memory computing to handle the large data volumes required by the extensive regulation. This enables faster processing time and a more flexible operational environment for end users. In-memory processing preserves data lineage at each functional stage enabling more transparent reporting and full confidence in the reporting process leading to lower risk of mis-reporting.

    Our solution is based on our tried and tested central data model and is designed to work together with our regulation, risk and accounting offerings. As such it already has industry leading security, control and audit features included as standard.

    OneSumX AnaCredit:

    • Enables firms to deliver granular credit and counterparty information to the regulator;
    • Enables firms to cross-check and enrich counterparty reference data against the Global Legal Entity Identifier Foundation (GLEIF) database;
    • Features powerful data analysis tools to aggregate data intelligently;
    • Guarantees data validation at every stage of the process;
    • Ensures reconciliation to either source systems and/or FINREP balance sheet information (there are over 70 overlapping data point attributes between FINREP and AnaCredit);
    • Provides full data lineage from source data through data mapping transformation logic to AnaCredit reporting classifications;
    • Offers unparalleled breadth and depth of content, covering all three stages of AnaCredit as well as all local regulator specific national discretions.

    More reading

    Latest insights on AnaCredit (See All)

    Integrating finance, risk and regulatory reporting through comprehensive data management
    (Published April 25, 2018) The right tech is not enough. While modern RegTech can do a lot to help institutions meet their data management needs and complete stringent reporting requirements, even the best technology will not live up to its promise unless an organization also designs and configures their data management system to serve broader goals.

    Q1 Regulatory Update Webinar
    (Recorded Webinar April 17, 2018) Watch the Q1 quarterly regulatory update webinar to learn of the latest updates relating to the risk, finance and regulatory issues impacting financial services professional.

    AnaCredit: Turning compliance into opportunity
    (Published February 1, 2018) This commentary discusses the practical considerations for quickly assessing the quality of the large amounts of granular data that need to be submitted to the regulator as part of AnaCredit and how it can be used to turn your project from cost into a benefit.