New EBA Project EUCLID (The European Centralized Infrastructure for Supervisory Data) aims to improve the collection, analysis and dissemination of supervisory data of banks. The main objective of EUCLID is to extend the collection of supervisory data from the current statistical sample consisting of the 200 largest banks in the EEA (European Economic Area) to the full range of individual banks and banking groups in the EEA. EBA expects data to be compliant with the technical standard (EBA ITS, XBRL), so it is necessary to transform the data. The data volume is also problematic, with hundreds or even thousands of reports that should be sent at the end of the quarter.
Our solution – XBRL Processor
Many central banks are considering introducing the EBA ITS standard directly by bank, but there are alternatives that can be used to adapt current systems to this standard. The XBRL Processor is such an alternative.
The XBRL Processor is an automatic data processing system that meets the needs of centralized management of source data and automatic input data. The application facilitates automatic conversion to the XBRL format required by EBA.
The XBRL Processor main capabilities:
- data mapping from various data sources to XBRL structures
- review and editing of XBRL reports
- validation against XBRL Formula validation rules
- automation of the transformation/validation process
- desktop and www access to reports
Our solution allows automatic transmission of reporting data with their automatic validation. XBRL Processor also lets you view reports for verification with the possibility of validation and visual presentation of errors and allows you to achieve compliance with EBA requirements, e.g. business cards, filing rules etc.
Choosing the XBRL Processor you gain maintenance-free creation of reports filled with data, efficient support for data calculation and adaptation of the collected data in another format to the XBRL format required by the EBA.
This XBRL processor is ready to use immediately, due to the fact that using our software is intuitive.
If you require more information, contact us and see our information leaflet!XBRL Processor – Leaflet