What is AnaCredit?

Analytical Credit Datasets (AnaCredit) is a three-stage project that started in September 2018. It requires credit institutions and their branches across the Eurozone (plus some other European countries on a voluntary basis), to deliver granular credit and counterparty information.

AnaCredit introduces a step-change in the amount of granular data that is required to be reported on such a frequent basis – daily in some cases. AnaCredit was initiated by the ECB, as part of the Single Supervisory Mechanism (SSM) to improve monetary policy, risk management, financial stability, and to underpin economic research and statistics within the Eurozone. Firms are expected to have up-to-date expertise around data requirements and local discretions. They should also have processes in place to monitor effects on both their single and multi-country operations in the future.

In the event that firms submit poor quality data on a regular basis and have to frequently resubmit, it’s not unrealistic to then expect a Pillar 2 charge for poor data management and governance as a consequence of a SREP review. This can be avoided with the OneSumX AnaCredit solution.

Benefits of OneSumX AnaCredit solution

OneSumX AnaCredit is a powerful reporting and data lineage tool, it has the scalability to handle large volumes of data, and includes process automation. It also gives you the ability to re-use data to address FinRep, CoRep, and local statistical and prudential requirements.

Aggregate data intelligently so you can meet requirements and ensure individual counterparty and exposure is correct. Organizations can also reduce project duration, and deliver consistency of reporting across multiple scopes through data re-use.

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Flexible processing

Has the scalability needed to process large volumes of granular data, enabling faster processing time and a more flexible operational environment.
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Save time

Quickly pinpoint the biggest blockers to straight-through processing so you can prioritize effort and allocate resources.
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Limit exposure to regulatory change

Future proof your regulatory compliance and limit exposure to regulatory change with the Regulatory Update Service (RUS). Includes updates to data requirements and out-of-the-box business logic.

OneSumX AnaCredit features

OneSumX AnaCredit is a fully integrated part of the OneSumX FRR ecosystem. We can help you manage and mitigate risks efficiently and meet your short and long term needs.

Establish a single source of data for Finance, Risk and Regulatory Reporting. Dramatically improve insight and analysis across the enterprise, and deliver meaningful and timely change. This contract-centric approach means that you can map data once and avoid building or adapting solutions using multiple legacy products.

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Use heat-maps to quickly identify significant movements and data quality issues.

Anacredit Loan Status
Re-using AnaCredit data to monitor and manage changes in the default status of your loans.

  • Ensure data quality

    • Data quality is assured through the Reporting Portal
    • Analyze data including variances at different levels of granularity through a broad number of attributes such as accounting classification, instrument, economic sector, and country
    • Quickly pin-point and remediate data issues within a four-eyes approval framework.

  • Data consistency, reconciliation and lineage

    • AnaCredit data requirements are fully specified through a standard API into the OneSumX AnaCredit data model that will provide lineage to firms’ source systems
    • Data validation in OneSumX AnaCredit is ensured at every stage of the process
    • From data input, data enrichment as well as the AnaCredit reporting output to meet the specification defined by the local National Competent Authority (NCA)
    • Reconciliation to either source systems or FINREP balance sheet information (where there are over 70 overlapping data points) is also delivered with an easy to use front-end
    • Investigate FINREP balance sheet information using data quality assurance tools
    • Full data lineage from data mapping transformation logic to AnaCredit reporting classifications
    • Drill down from an aggregate report to the underlying contract details or AnaCredit – or drill up from the contract to the reports.

  • Budget and predict costs

    • Our Regulatory Update Service covers all three stages of AnaCredit, enabling firms to budget and predict costs for future project expansions
    • Wolters Kluwer will keep the solution up-to-date as the ECB confirms what they need for stages 2 and 3 and local regulators confirm their national discretions and technical requirements
    • Technical specifications defined by the NCAs are reflected.

  • Grid computing and In-memory computing

    • Grid computing and in-memory computing is used for all processes including mapping and calculations
    • Processing preserves data lineage at each functional stage enabling more transparent reporting and full confidence in the reporting process leading to lower risk of mis-reporting

  • Enhanced regulatory intelligence features

    • Regulatory intelligence built into the solution is kept up-to-date, allowing RMS to re-use their data to deliver efficiency and consistency for their regulatory reporting obligations quickly
    • Data from an AnaCredit implementation can be re-used to address FinRep, CoRep, and local statistical and prudential requirements.
    • Reduce total cost of ownership and eliminate tactical legacy when stages 2 and 3 have of AnaCredit define transactional reporting requirements (MIFIR/MIFID II, EMIR, SFTR, MMSR)
    • Use our OneSumX Business Intelligence reporting to create trust between internal reporting and regulatory submissions through re-use of the same data.
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