AUIGes: Section 4: Objective Communications

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SOVEGA is pleased to announce the enrichment of the AUIGes Suite with the new section for the reports of Objective Communications.
The Financial Intelligence Unit (FIU) in fact, on 28/03/2019, as adopted the provision with which financial intermediaries (banks, electronic money institutions, payment institutions, Poste Italiane, etc.) are required to send a monthly a communication with data about the cash movements equal to or greater than 10.000 Euros even if made with multiple transactions equal to or greater than 1.000 Euros, executed by the same person during a calendar month both on stable or occasional transactions .

The new functionality is included in the so-called Section 4 of the Suite and it is already available for our current and potential customers considering that the obligation to send objective communications started in April 2019 and that the first submission for the months of April, May and June 2019 can be executed starting by September 15th 2019 (expiry date coinciding with the report in July 2019).

AmministrazioneAUIGes: Section 4: Objective Communications

AnaCredit EU – The new reporting regulation from the European Central Bank

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SOVEGA has carried out projects for the implementation of information processing and the consequent generation of the AnaCredit reporting as well as solutions for reverse engineering and standardization of the related SDMX reports for quality assurance for audits and compliance.

AmministrazioneAnaCredit EU – The new reporting regulation from the European Central Bank

The new features of AUIGes

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We are pleased to announce that our AUIGes suite has been enriched with functionalities to support IT, Compliance and Audit, adding to the AUI, Fiscal Monitoring and AUI controls (periodic or extraordinary during the phases) of systems change or inspections, all-round checks on the AML in general with the following new features:

AML Change Management regarding upstream controls on the data supplying the systems that govern the customer risk profiling processes and the determination of suspicious transactions and downstream on the risk profiles and suspicious transactions generated by two different systems of governance of these processes or by different elaborations of the same system.

Find all the details in our product section.

AmministrazioneThe new features of AUIGes

A new assignment: Quality Assurance on XBRL Solvency II taxonomies

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One of the most consultative fronts we are most proud of is that linked to the activities and projects XBRL, the international standard protocol on the exchange of financial information.
In fact, since the beginning of 2014 we have been associated with XBRL Italia and, together with KPMG Advisory SpA, we participate in an international framework for the provision of services for the development and maintenance of Solvency II taxonomies for the European organization EIOPA (European Insurance and Occupational Pensions) Authority), the European Insurance and Occupational Pensions Authority which oversees insurance companies and European pension funds.

In fact, EIOPA conferred on SOVEGA, in partnership with KPMG, the important task of carrying out a Quality Assurance activity on these XBRL Solvency II taxonomies, in order to verify its correct functioning, the validity of the calculation rules and, in short, to perform an overall validation of the taxonomic system.

On 15 July 2016, in fact, the EIOPA published the official XBRL taxonomies and the schemes relating to the so-called Solvency II. These schemes fall within the scope of the prudential supervisory reports, aimed at reporting the risks that insurance companies assume in the exercise of their business, and to verify the adequacy of their assets with respect to these risks.

We are also continuing to work on the offer of our XBRL – Confidi product for all Italian banks as a solution for the generation of XBRL instances or financial information flows to Confidi based on the ABI-Assoconfidi agreement protocol.

AmministrazioneA new assignment: Quality Assurance on XBRL Solvency II taxonomies