MAS 610/1003 solution
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This feature is upgradeable
For End Users
You can activate this feature and other links for ALL VENDORS with a VendorMatch Premium subscription. Additionally you can gain access to an increased depth of data, summary reports, RFX reports (detailed completed RFIs - available to financial institutions only) and comparison grids. Please click here for more information on Premium features.
For Vendors
Vendors can activate their links and gain access to analytics by upgrading to VendorMatch PRO. Please click here for more information
Ask an Analyst
Ask an analyst is the ability to communicate with one of our analysts about this vendor, system or genre of solution.
Survey Summary
The Survey Summary provides a full download of the vendor profile, the solution profile and all survey response information uploaded by the vendor in connection with their VendorMatch directory listing. Note that the directory listing requires only check box responses where the RFX response is more comprehensive.
To learn more about subscribing to our service options, please contact us here
This feature is upgradeable
For End Users
You can activate this feature and other links for ALL VENDORS with a VendorMatch Premium subscription. Additionally you can gain access to an increased depth of data, summary reports, RFX reports (detailed completed RFIs - available to financial institutions only) and comparison grids. Please click here for more information on Premium features.
For Vendors
Vendors can activate their links and gain access to analytics by upgrading to VendorMatch PRO. Please click here for more information
Ask an Analyst
Ask an analyst is the ability to communicate with one of our analysts about this vendor, system or genre of solution.
Survey Summary
The Survey Summary provides a full download of the vendor profile, the solution profile and all survey response information uploaded by the vendor in connection with their VendorMatch directory listing. Note that the directory listing requires only check box responses where the RFX response is more comprehensive.
To learn more about subscribing to our service options, please contact us here
This feature is upgradeable
For End Users
You can activate this feature and other links for ALL VENDORS with a VendorMatch Premium subscription. Additionally you can gain access to an increased depth of data, summary reports, RFX reports (detailed completed RFIs - available to financial institutions only) and comparison grids. Please click here for more information on Premium features.
For Vendors
Vendors can activate their links and gain access to analytics by upgrading to VendorMatch PRO. Please click here for more information
Ask an Analyst
Ask an analyst is the ability to communicate with one of our analysts about this vendor, system or genre of solution.
Survey Summary
The Survey Summary provides a full download of the vendor profile, the solution profile and all survey response information uploaded by the vendor in connection with their VendorMatch directory listing. Note that the directory listing requires only check box responses where the RFX response is more comprehensive.
To learn more about subscribing to our service options, please contact us here
Overview
The MAS 610/1003 is the core balance sheet return for the MAS reporting regime. The magnitude of the return spans over 340,000 data points and across different departments such as Finance, Risk, Operations, Legal & Compliance just to name a few. It takes a significant amount of resources and effort to produce each month, requiring a remarkable amount of rigor and analysis to get correct.
The key feature of AxiomSL’s MAS610/1003 solution is that it leverages on an industry-defined Open Taxonomy which streamlines financial institutions’ (FIs) compliance efforts – better structure and automation, reducing change management resulting in quicker responses to regulatory changes. This industry-led taxonomy comprises of data relationships from over 300,000 different data points. The Open Taxonomy was defined by a group of two D-SIBs (Domestic Systemically Important Authorized Institutions), seven international banks including four G-SIBs (Global Systemically Important Banks), PwC Singapore and BR-AG.
It supports MAS validation rules as defined by MAS in the submission PDFs, as well as generation of MASNET ready XFDF submission files.
The solution can be delivered in one of two ways: either as an On-premise or Software-as-a-Service (SaaS) model. It is able to seamlessly integrate with the FIs’ operating model – encompassing all aspects of Reporting, Analysis and Controls. AxiomSL’s single strategic platform means that the same architecture can also be used for all other regulatory requirements, greatly reducing operational risks and costs as well as the complexity of compliance.
Key Features
- Access to standardised industry-defined Open Taxonomy to ease reporting burden by alleviating interpretation related errors
- Natively integrated with the MAS 610 Open Taxonomy – map your data directly to the industry defined taxonomy instead of an arbitrary data model
- Business Rules framework to enable configurable enrichment of source data into MAS 610/1003 reporting format allowing for extensibility and scalability
- Robust big data management with extensive data validations and reconciliations
- Data archiving, versioning and transparency with configurable taxonomies
- Award winning enterprise regulatory reporting software that is platform agnostic with the ability to integrate raw data from disparate sources
- Meta driven solution with full data lineage from source systems through to reporting, allowing for full audit trail and transparency from data loading to electronic submission
- Configurable maker-checker based MAS 610/1003 reporting and submission process with full audit trails
- Dashboard capability providing a quick overview of key MAS 610/1003 reporting metrics and status
- Provides comprehensive traceability/lineage on how the data flows upstream and downstream
Key Benefits
- Industry defined Taxonomy assures FIs that interpretations of regulations and treatment of data will be consistent with the majority in the industry
- Shortened and more efficient reporting cycle
- Increased efficiency of the decision-making process
- Increase business user enablement and reduced burden on it and users
- Flexible, on-demand Management Information System (MIS) reporting
- Improved productivity by up to 75%
