Intuitive financial reporting system for banks and financial institutions.
iON is a system for intuitive, comprehensive and automated preparation of financial statements. The application allows you to carry out a full reporting process including loading, converting and verifying the correctness of data as well as generating reports in accordance with the requirements of financial institutions. The multi-stage data quality verification is a response to the stringent requirements of supervisory institutions and guarantee funds. Data prepared in this way can be integrated with any banking system and used in the process of further analysis.
Institutions regulating and supervising the financial system at the European level require from commercial and central banks more and more detailed reports composed of lists and tables containing up to several million records.
The data necessary to generate a correct report and attachments can be found in many different places, internal banking systems. It is necessary to combine them, check and process to the appropriate format.
The costs of servicing reporting requirements in organizations covered by this obligation are constantly increasing.
The scope of reports may change, and the time for their delivery may be limited to a few days.
Reports require support for hierarchical tables and multiple nests.
The main goal of the project was to improve the reporting process for European banks and financial institutions and to adapt it to EU requirements.
The use of flexible and scalable service architecture allows for the processing of large amounts of data contained in reports (even hundreds of thousands of records in one table).
The aS-DataCalc service with a built-in Apache Spark engine, used in BIG DATA, is responsible for the rapid processing of large amounts of raw data.
For security reasons, all components of the WEB application are installed on the client’s servers.
The system checks the correctness of data at many stages, and the formats are verified at the moment of their loading.
Then, qualitative validation (e.g. compliance with defined dictionaries) is carried out until the final XML file is checked
for compliance with the XSD schema.
iON supports the Basic Report Format (XML), various attachment formats such as PDF or XLS formats. It also allows you to add over 100 annexes provided for by regulations.
The ability to create individual rules allows you to take into account non-standard situations of each client, i.e. e.g. limitations resulting from the scope of the conducted activity.
iON customers can safely and automatically create financial reports, have a guarantee of data quality and correctness, and avoid the risk of high financial penalties.
iON enables the timely execution of reports of appropriate quality (avoiding high penalties).
People handling the reporting process can focus on the substantive aspects, being sure that the system ensures quality and correctness control of data in many places.
Thanks to the automation mechanisms, the application can largely operate autonomously and inform about the correctness of the data supply process.
The possibility of creating dedicated rules and expanding the process of generating and processing verified source data located in different places of banking systems opens up almost unlimited possibilities of integration with analytical processes