How to get ready for APRA Connect Reporting

The Australian Prudential Regulation Authority (APRA) is introducing a new data collection solution, to progressively replace Direct to APRA (D2A), and facilitate entities meeting other prudential obligations. More than 4,500 reporting entities currently submit data to APRA.

Are you ready for APRA Connect?

APRA Connect will provide flexibility for collecting and submitting data, with new functionality and an easy-to-use interface. It will ensure both entities and APRA are well placed to continue to meet evolving regulatory needs.

Reporting entities, ADIs, Superannuation and Insurance, are responsible for managing its own readiness for the new reporting requirements. No matter which entity you are, before making a decision about your regulatory reporting solution, ask the following questions:

  • Are you covered for all new reporting requirements as they come into APRA Connect?
  • Will the solution align with APRA?
  • What data models are supported?
  • Is the solution connected to MyGovID?
How can Vizor help you automate APRA reporting?

In April 2019, Vizor Software was selected by the Australian Prudential Regulation Authority (APRA) as the software platform of choice to replace its 2001 Direct to APRA (D2A) solution.

Vizor has the first solution to automatically synchronise with all APRA data models and rules published on the new APRA Connect. This eliminates complex system upgrades and reduces the cost and impact of future regulatory changes. Key benefits are:

  • Automatic system updates in sync with APRA Connect templates and rules
  • Pre-filing validation of your APRA Connect data using the same Rules Engine being deployed inside the new Connect system to guarantee “right first time” submission
  • Easy integration with existing systems using RESTful API
  • Cost-efficient - all reports & updates are ‘out of the box’

“Working with both APRA and MAS to deliver their new data collection platforms, we see common data trends in line with other leading regulators we work with. Regulators are moving to standardised, machine-readable data models and from aggregate to granular requests. It is no longer enough to simply submit data on time, your data must be explainable and high-quality.” says Joanne Horgan, CIO of Vizor.

Are you interested in hearing more about how to get ready for APRA Connect? Register for our webinar on Monday 7th September at 4 pm AEST (7 am GMT).

Register today