BRR – Banking Regulatory Reporting

Fast, accessible, and simplified compliance

In an environment of constant legislative evolution, as in the case of COREP/FINREP, AnaCredit, MIFID II, PDS2, banking institutions required to comply with new regulations are subject to a significant increase in compliance costs.

Quidgest developed the Banking Regulatory Reporting (BRR) solution to speed up sending information to report more accessible.

Tighter regulation requires an agile management solution

In 2020, fines to banking institutions that were not complying with regulations were over $10 billion – an increase of 141% on the previous year. At a time when regulation is getting tighter and the nature of the data to be reported is becoming increasingly complex, banks need more agile solutions for managing bank regulatory reporting that don’t weigh as heavily on the budget and that, as far as possible, simplify, automate and standardise the reporting process. If they fail, they are liable to be penalized with significant fines and suffer reputational damage.

Quidgest’s solution

Faced with this reality, Quidgest presents flexible solutions that automate the process, reduce the courses and allow you to focus efforts on the control and not on the execution of reports that, by rule, are lengthy processes and easily susceptible to errors.

Relatórios BRR de forma simples e rápida

The Quidgest team has extensive experience in replacing reporting solutions in legislative realities that are constantly evolving, as is the case in Portugal. In addition to ease of use and agility, Quidgest ensures a rapid implementation that includes change management, with human resources training specialized in the topic.

In addition to the specific reports of each country, the system responds to the standardization of the regulation of the banking and financial sector, resulting from the Basel III Accords, which made it necessary to implement reports, with uniform requirements and definitions, something achieved through:

Guidelines de Common Reporting (COREP)
Model defined for reports of prudential nature, and Financial Reporting (FINREP)
A defined model for financial and accounting information reports

BRR COMPLIANCE? TALK TO US.

software for banking regulatory reporting

ADVANTAGES FOR BANKING INSTITUTIONS

TRACEABILITY
Complete data traceability through drill-down and change audits
QUALITY
Ensures data quality and reporting through validation and notification systems
EDITION
Information editing by the access levels authorized for this purpose
STANDARDISATION
Simplification and standardization of the reporting process

COSTS
Reduction of reporting costs
AGILITY
Flexibility in ETL (extract, transform and load) process and fast system implementation
COMPATIBILITY
Compatible with other solutions
LEGISLATIVE FRAMEWORK
The solution is fully compliant with Portuguese and international legislation

BRR’s functionalities

Generation of reports in various formats
Access to totally detailed information through drill-down
Data validation and importation
Data conversion
Flexibility in report configuration
Notifications
Generated report validations
Information changes
Modifications auditing
Different levels of access

AnaCredit

Analytical Credit Datasets

Knowledgebase

COREP/FINREP

With the standardization of regulation, there was also a need to implement reports with uniform requirements and definitions through the Common Reporting Guidelines (COREP), (…)

BASEL III AGREEMENT

The international financial crisis has exposed the weaknesses of the regulatory system of financial markets and demonstrated inefficiencies in risk management procedures in the financial sector. (…)

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BRR – Banking Regulatory Reporting

Fast, accessible, and simplified compliance

Tighter regulation requires an agile management solution

Quidgest’s solution

ADVANTAGES FOR BANKING INSTITUTIONS

TRACEABILITY

QUALITY

EDITION

STANDARDISATION

COSTS

AGILITY

COMPATIBILITY

LEGISLATIVE FRAMEWORK

BRR’s functionalities

RELATED SOLUTIONS

AnaCredit

Knowledgebase

COREP/FINREP

BASEL III AGREEMENT

QUIDGEST

Search

BRR – Banking Regulatory Reporting

Fast, accessible, and simplified compliance

Tighter regulation requires an agile management solution

Quidgest’s solution

ADVANTAGES FOR BANKING INSTITUTIONS

BRR’s functionalities

RELATED SOLUTIONS

AnaCredit

Knowledgebase

COREP/FINREP

BASEL III AGREEMENT

QUIDGEST

Search

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