VistaOne Solutions, a CoreOne Technologies company and the global leader in providing financial data management, reporting and distribution services, today announced the release of vSolvencyII, providing end-to-end governance for Europe and UK insurance firms and their asset management to comply with impending Solvency II regulations.
"With the 2013 deadline quickly approaching, understanding how technology is used to help insurers and asset managers get in front of the Solvency II issue is the first step towards regulatory compliance," says Brian Lott, Global Head of Product for VistaOne Solutions. "As early as 2010, our published research on the challenges the industry is facing, focused on staying ahead of impending regulations. Our leading edge software and service capabilities have shown that a robust end-to-end data management solution helps insurers and their asset managers move more quickly towards compliance".
vSolvencyII is a complete Solvency II governance solution built on a proven financial services technology platform. It features reporting capabilities, delivering the functionality needed to flexibly aggregate multiple data sources into a consistent data architecture. All the while, it provides rule-based workflow designed to automate the preparation of data, exception management, audit controls and fulfillment of Quantitative Reporting Templates (QRTs) to produce Regular Supervisory Report (RSR) and Solvency and Financial Condition Report (SFCR).
The vSolvencyII reporting solution is powered by vReporter, a data management and reporting solution, with over 500,000 users across over 200 financial services firms, supporting internal users, their clients and regulators.
"We are constantly striving to provide solutions to reduce the time to market and ease of implementation when addressing the challenges of new regulation," continued Lott.
Already a leading provider of information management and reporting solutions, serving most of the top 50 firms managing $5 trillion in assets, VistaOne has invested heavily in technology that simplifies critical Solvency II processes into a comprehensive solution to speed compliance and streamline ongoing operations.