10 July 2017

Vizor Software Regulatory Technology Launched by AMBD

Today, Vizor Ltd. announced that AMBD has gone live with their Centralised Statistical System (CSS). The new solution provides a single portal to collect financial data from external entities, allowing AMBD to produce insightful and detailed reports. The new system also improves the supervisory lifecycle through the use of Vizor Software’s workflow features, as well as the quality of data being submitted through automatic validation checks. Financial returns have been implemented within several relevant departments at AMBD.

Conor Crowley, Joint CEO and Co-Founder of Vizor stated, “Our team is proud to be assisting the AMBD in their mission to ensure the stability of the financial system and to develop a sound and progressive financial services sector.”

AMBD will gain significant efficiencies from the implementation of the Vizor solution including:

  • Improved internal and external data collection processes for routine and ad-hoc data from internal sources, supervised institutions and other financial and non-financial entities.
  • Improved quality, consistency, reliability and integrity of data/information submitted to and published by AMBD.
  • Reduced turnaround time for data retrieval, collation, analysis and dissemination.
  • Enhanced monitoring and supervision on both a standalone and consolidated basis to quickly identify inherent risks within the financial system and proactively determine supervisory, regulatory and policy decisions/actions.
  • Significant reduction in the need for submission of paper-based returns and reports while maintaining non-repudiation.

About Autoriti Monetari Brunei Darussalam The establishment of AMBD in 2011 is another significant milestone in the development of the financial sector in Brunei Darussalam. It also underscores the commitment of the Government of His Majesty the Sultan and Yang Di-Pertuan Negara Brunei Darussalam in achieving and maintaining a sound and dynamic financial system by continually implementing appropriate measures and undertaking necessary financial sector reforms in support of national economic development objectives.

You can learn more about AMBD on its website http://www.ambd.gov.bn/Home.aspx