ABACUS/GMP, provided by BearingPoint Software Solutions GmbH, offers a comprehensive standard software that includes both the template-based and cube-based regulatory reporting requirements in Austria, in order to fulfil all of the national and international legal requirements for the regulatory reports. Therefore, ABACUS/GMP illustrates a paradigm shift in the Austrian regulatory reporting, which is based on a common data model with granular data input.
The “input-based approach” of the cube based regulatory reporting emphasises the harmonisation of data for the different regulatory reporting situations. This new approach will gradually replace, the template-based regulatory reporting, which has relied on an output approach.
The input approach enables banks to deliver all the relevant report data in the so-called basic cube via standardised interfaces. The delivery is carried out on individual transaction levels, in accordance with data model that has been mutually defined by OeNB and Banks. By means of diverse data enrichments, calculations and processes, the smart cubes that submit the report to the supervisory authority are created from the granular basic cubes in ABACUS/GMP.
The cube-based approach has further developed the Austrian regulatory reporting process from a traditional, template-based system into a new, future-oriented framework that is suitable to successfully handle the increasing regulatory requirements – including the ad-hoc requests which may arise beyond the regular regulatory reporting process.
Alongside the pure cube-based regulatory reporting, the option to create the remaining template-based reports is also provided with ABACUS/GMP.
Above all, a progressive filling of the basic cube forms has been implemented for the international reporting obligations, thus a linkage of the cube and report record is produced. In 2016, the first reports that will be generated by derivations rules from the basic cube are FinRep Solo and VERA A1c on the national level.
ABACUS/GMP is based on a state of the art, future-friendly modern system architecture. The fundamental elements of this architecture are a flexible client-server architecture (3-tier architecture) and a relational database. Moreover, ABACUS/GMP is a web-based application and thus also forms an ideal basis for an outsourcing solution. ABACUS/GMP runs independently across platforms and supports both small and large institutions with the submission of their reports on a regular and continuous basis.
An extensive automation up to the report creation can be achieved by connecting to an upfront banking system (e.g. banking DWH).
ABACUS/GMP is distinguished in particular by the following product features: