A growing number of XBRL reports of the banking sector causes demand for reporting processes automation

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Recently, we have witnessed the tightening of a loop of supervision over the banking sector. The main result of this process is a growing number of reports required from banks by domestic markets regulators.  One of the biggest problems of reporting process becomes thus the cost of work and time spent on manual data entry into the reports.

In fact, there are many outdated solutions on the market – based on few components (e.g., Excel plus XBRL converters) and providing very limited possibilities of data input automation.

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