APRA-EFS Reg-Reporting Solution
One stop solution for APRA Modernised Economic and Financial Statistics regulatory reporting in Australia.

Financial institutions must undergo transformative change as current legacy technology platforms, tools, and data capabilities are insufficient to meet APRA’s updated regulatory requirements with increased granularity, quality, and velocity of data collection in the ADI industry. Compliance with regulatory reporting requirements requires implementing a governance system that is suitable for its purpose.

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APRA is increasing the granularity, quality and velocity of data collections in the ADI industry. Financial institutions require transformational change as the current legacy technology platforms, tools, and data capabilities are inadequate and will not scale to meet the various customer, business, and regulatory demands. Embedding a fit-for-purpose Governance framework is critical to meet the regulatory reporting obligations.

Challenges for Regulated Entities

AASB 9 provisions, and EFS categorization in one granular dataset submission have been highlighted by specific regulatory requirements such as ARS 220 (Credit Quality) and ARS 923.5 where it emerged that granular data is needed to integrate Credit Risk (e.g. RWA in compliance with APS 112 & 113). In September 2021, APRA launched a new data collection platform, APRA Connect, that enables APRA to collect tabular data sets from across the wider industry. Finalized taxonomies for the Superannuation Data Transformation (SDT) provide a glimpse of how APRA collect tabular data sets in APRA Connect.

Since the current return preparation and governance processes are mostly designed around independent return preparation silos, these requirements present a considerable challenge to ADIs.


How we can help

Profinch’s technology-based product solutions enable FIs to transform their business and be end to end compliance ready by addressing varied and complex data requirements across business areas. FinCluez by Profinch lets you manage and report critical data efficiently and effectively. Our future-proof technology ensures you stay on top of changing customer needs and the constantly changing regulatory landscape.

How we can help

FINCLUEZ
CENTRAL BANK REPORTING

FINCLUEZ - CENTRAL BANK REPORTING

FINCLUEZ
MIS + ANALYTICS

FINCLUEZ - MIS + ANALYTICS


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