Author: Nicholas Hamilton

This article was published by WatersTechnology on 13 Dec, 2012

The engine guides end-users through the completion of the Quantitative Reporting Templates and leverages the data warehouse of the technology company's PATOne data platform

Technology vendor OTCFin has launched a Solvency II engine that offers enhanced transparency and look-through functionality. The tool is designed to enable third-party administrators to help their insurance clients comply with the European Union directive on capital adequacy and risk management for insurers.

The engine has been integrated into OTCFin's PATOne data management platform, and guides users through the completion of the Quantitative Reporting Templates (QRT), which have been developed by the European Insurance and Occupational Pensions Authority (EIOPA).

Once the templates have been completed, the engine will "aggregate this with market risk information to provide the final templates that EIOPA requires," says Diego Tornini, OTCFin's Barcelona-based financial engineering director.

The Solvency II engine is supported by PATOne's data warehouse, which aggregates data on a single platform.

"We aggregate the data, we cleanse it and, at the end, we store all this data and produce our reports, which have all of the slice-and-dice capabilities and portfolio construction capabilities."

When the data has been confirmed, it can be converted into XBRL and sent to EIOPA.

Flexibility has been built into the engine to allow for modifications when the regulations are finalized.

OTCFin is a Financial Technology firm that provides risk and regulatory data management and reporting solutions to buy-side and sell-side clients.  Over the past 18 years, the firm has worked closely with its clients to implement enterprise-wide data and analytics integration and reporting processes on its PATOne platform, alleviating their data management burden and enabling them to focus on core business activities.  OTCFin PATOne platform helps clients centralize data and analytics from numerous and disparate sources to provide a comprehensive and systematic view of their assets to meet regulatory reporting requirements such as Solvency II, Basel, AIFMD/Form PF/OPERA and PRIIPs KID. The company has offices in New York, Barcelona, New Delhi and representatives in London, Paris and Rome

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