Norway – Computer support and consultancy services – Suptech solution - hub for EU/EEA reporting (XBRL / XML)

Description

The rapid development of pan-European regulations has resulted in extensive reporting requirements for the financial industry and requires considerable resources in the various institutions. A significant part of the reporting is in XBRL format. Finanstilsynet expects the reporting volume to continue to increase in the years ahead. This will entail additional requirements for the technical solutions and require extensive changes to the existing reporting solution. The reporting requirements are an important part of the regulatory framework, and supervision of reporting quality hence an important part of the supervisory process. The reported data are also essential to enabling Finanstilsynet to fulfil its mission. Good technical solutions that facilitate efficient reporting and high data quality play a crucial role in the development of more efficient and data-driven supervisory follow-up. In addition to Finanstilsynet's own use of reported data, further reporting, with short deadlines, to the European Supervisory Authorities (ESAs) is also required. Finanstilsynet also shares data with other parts of the public sector, including Norges Bank and the Norwegian Banks' Guarantee Fund, and aspires to make them far more accessible to the general public. The current reporting solutions, developed in-house, must either be replaced or undergo significant development and upgrading. Existing solutions are based on old technology that is challenging to manage, inflexible and ill-suited for the current frequent changes in scope, content and frequency.

Key facts

Procedure

neg-w-call

Submit via

https://permalink.mercell.com/230850889.aspx

Contact

cathrine.haltem@finanstilsynet.no

Regime

publicSector

Category

services