APRA picks vendors for reporting system overhaul

By Dylan Bushell-Embling
Tuesday, 02 April, 2019

APRA picks vendors for reporting system overhaul

The Australian Prudential Regulation Authority (APRA) has selected a consortium consisting of Australia’s Dimension Data and Irish software company Vizor Software to deliver a new data collection solution for the financial sector.

Dimension Data has been selected to deliver a software solution from Vizor Software to replace APRA’s ageing data reporting system Direct to APRA (D2A).

The new system will be used by more than 4500 financial sector entities to meet their regulatory reporting requirements to the agency.

Vizor Software will provide a web-based system that uses the same software that underpins the platforms used by many of APRA’s international peers.

The companies secured the contract by submitting a joint tender to a request from the agency for an off-the-shelf, minimally customised data collaction solution capable of replacing D2A, which was released in 2001 and is increasingly showing its age by posing difficulties using and maintaining.

“APRA is very pleased with the outcome of the tender process. We are confident this partnership will deliver a robust solution that will allow financial companies to report data to APRA more quickly, efficiently and accurately,” APRA Executive General Manager for Risk and Data Analytics Sean Carmody said.

“Reliable data is critical for monitoring the institutions APRA supervises, and to allow APRA and other agencies to protect the Australian community by ensuring the stability of the financial system.”

Please follow us and share on Twitter and Facebook. You can also subscribe for FREE to our weekly newsletter and quarterly magazine.

Related News

WA digitses state 'treasures' for online viewing

Internet users worldwide can now access WA's treasures from the comfort of their homes via a...

DTA to publish updated Style Manual in 2020

The DTA plans to publish an update to the 20-year-old Australian Government Style Manual next...

Digital Transformation Strategy hits first anniversary

The DTA has published the Year One update covering progress with the implementation of the...

  • All content Copyright © 2019 Westwick-Farrow Pty Ltd