Today, Vizor Ltd. announced that APRA had selected its software solution to replace the existing data reporting system, Direct to APRA (D2A). The new system will be used by more than 4,500 financial sector entities to meet their regulatory reporting requirements to APRA. Vizor jointly tendered with Dimension Data who were selected as the implementation partner for the project.
The Australian Prudential Regulation Authority (APRA) has selected Vizor Software for a new Data Collection Solution that will be used across the financial sector to meet data reporting requirements…
The new Data Collection Solution will replace the D2A system, which was released in 2001 and has become increasingly challenging for both industry and APRA to use and maintain. In its place, Vizor will provide a modern, efficient, web-based system, improving APRA’s core data collection capabilities.
“We are delighted to have been selected by APRA as part of their modernisation program” commented Conor Crowley, CEO of Vizor. “The completeness of our off-the-shelf product allows us to meet the project requirements with only minimal customisation and provides a platform that can be adjusted in line with future needs.”
The new Data Collection Solution is due to come online in March 2020, following further engagement with industry. More details on the selection of the new Data Collection Solution are available on APRA’s website: https://www.apra.gov.au/media-centre/media-releases/apra-selects-vendor-provide-new-data-collection-solution.
The Australian Prudential Regulation Authority (APRA) is the prudential regulator of the financial services industry. It oversees banks, credit unions, building societies, general insurance and reinsurance companies, life insurance, private health insurers, friendly societies, and most members of the superannuation industry. APRA currently supervises institutions holding $6.5 trillion in assets for Australian depositors, policyholders and superannuation fund members.
Vizor Software is the global leader in enterprise supervisory solutions for financial regulators. We help financial supervisors protect and enhance the stability of the financial system. Vizor is trusted by central banks and regulatory authorities in more than 25 countries for the collection, validation and analysis of highly complex data from financial institutions. Vizor Software is an integrated data collection and supervisory system that is based on best-in-class supervisory models but flexible enough to deal with regulator-specific needs.
You can learn more at vizorsoftware.com or by following Vizor on LinkedIn and Twitter.