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The banks integrated reporting dictionary infographic

The banks integrated reporting dictionary infographic

  1. 1. BIRD ACCESS DATABASE BIRD CONVERSION REGULATION ENGINE FRAMEWORK DESIGNER Sources: Europe Central Banking Documentation and Novabase Analysis The Banks’ Integrated Reporting Dictionary: what is it for? BIRD stands for Banks’ Integrated Reporting Dictionary, which is a Europe Central Bank initiative to harmonise reporting frameworks across countries. Misalignment among banks regarding regulatory standards Questionable quality for the outputted data Difficulty in compare status among banks Reporting as a costly and time-consuming process for banks (Operational Systems) BIRDSource data Reporting Frameworks Supplied data Derived data (Tranformations) How can Financial Institutions use BIRD to improve reporting? An integrated and automated reporting platform can translate electronic dictionary framework into a framework designer, such a platform can help minimise the compliance burden, streamline processes and support business decisions with data. NOVABASE FINANCIAL SERVICES

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