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To meet the upcoming FINREP requirements and to ensure accurate and compliant financial reports, banks are forced to act quickly.
The rapid-deployment solution provides customers more than 48 of the 65 FINREP templates and pre-configured content for all IFRS group reports, which supports companies in quickly complying with IFRS and FINREP reporting requirements and helps saves time.
Strong data quality and process automation benefits help customers deliver highly reliable IFRS and FINREP figures consistently faster.
Invoke XBRL reporting solutions are perfectly aligned with the emerging European regulatory use-cases of COREP and FINREP under CRD IV and Solvency II, making Invoke the partner of choice for major supervisory bodies (such as the European Banking Authority, Banque de France - ACPR and Deutsche Bundesbank), as well as for multinational groups in the banking and insurance sectors (such as Credit Agricole, Danske Bank, CNP Assurances, Groupama, Danica Pension and many others) who fall under the scope of both local and European regulatory imperatives.
Compiling COREP and FINREP reports, which include capital requirements, exposure and other financial information, involves a detailed process of consolidating data from multiple sources.
The new approach from Invoke and Finsbury Solutions is pragmatic and results-oriented, designed to help firms meet their COREP and FINREP reporting obligations on time, by leveraging the spreadsheet-based processes that many firms currently rely on.
When ready, COREP and FINREP data is automatically centralized in a dedicated XBRL portal environment that converts the controlled Excel versions of COREP and FINREP templates into validated, regulator-ready XBRL reporting schedules that can be displayed in a user-friendly XBRL spreadsheet interface for pre-submission review.
Composed of the regulatory reporting platform, FAS Regulatory and its complementary web-portal module that serves to steer the disclosure process, this end-to-end solution allows Bankdata to industrialize the compliance effort needed to for its member banks to meet the many demands of COREP and FINREP reporting under CRD IV.
Free subscriptions to render any IFRS, US-GAAP, COREP, FINREP or other XBRL 2.
These projects and others FINREP, PRC and Solvency II.
CompSci's XBRL rendering engine is able to upload any taxonomy instantly, including the IFRS, US GAAP, COREP, and FINREP taxonomies, as well as any other XBRL 2.