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)

    AnaCredit: Through the magnifying glass
    (Published August 21, 2017) In this follow up article to AnaCredit: “Time for a reality check”, Nicos Kynicos, Senior Regulatory Reporting Specialist at Wolters Kluwer, discusses AnaCredit timelines set by regulators, the national discretions that are being applied in individual member states and the business and IT challenges organizations face to be compliant.

    RiskMinds International
    (Seminar December 4-12, 2017) Wolters Kluwer are proud once again to sponsor RiskMinds International. It’s the leading event for Risk Professionals in the Financial Industry – Join us in Amsterdam, meet our experts and discuss with them the topics at interest you most.

    A data-driven era: optimizing data strategies to achieve regulatory compliance
    (On-demand webinar) In this webinar Wolters Kluwer and Risk.net look at how optimizing data strategies can help an organization achieve regulatory compliance.