Atome: Particles

ATOME is developed by Ramasoft's Polish partner. It is a modern, universal reporting system that supports mandatory reporting in the insurance sector, especially in XBRL format (EBA, Solvency II).

 

Background

 

It has been ten years since the financial sector underwent tremendous changes, which resulted in new guidelines and mandates for reporting. With regulators entering a new era of RegTech, financial institutions have been struggling with the most complex requirements to date over the past ten years.

 

Business needs

 

With changes in regulatory taxonomy, an increasing number of requirements, and increasing complexity of reporting obligations, we can observe that the compliance burden remains a major concern for the financial sector. Limited understanding or misinterpretation of the requirements makes it impossible to file a successful regulatory application.

 

How can BR-AG’s solution help

 

BR-AG has been working with financial regulators, central banks, business registers, experts and other market players for more than 13 years to enhance the digitization of the financial services industry worldwide.

Driven by passion, knowledge and precision, the ATOME reporting system has been developed to meet the needs of users and meet regulatory requirements.

The ATOME system is capable of producing all the individual and consolidated reporting tables required by Solvency II, but it only covers the final phase of reporting, so its main functions are:

 

• Import calculated data of report tables

   o from an internal (technical) excel format

   o from a (visual) format that is very similar in form to the report to be submitted

   o from XBRL

• Display reports

• Possibility of manual input, addition, modification in an auditable way

• Validation (checking the internal context of the report)

 

• Print

• Export reports to technical, visual excel and officially required XBRL formats

 

 

• Historical storage of generated reports and relationships

 

The system continuously provides the latest taxonomy as part of the updates. The system does not require the installation of an application or other software than a Windows environment.