Seahorse®: XBRL solution - COREP, FINREP and Solvency II
Help is at hand for financial institutions filing COREP, FINREP and Solvency II reports in XBRL. Seahorse is an easy-to-use cloud-based product for managing XBRL disclosures; it provides an inexpensive, risk-free solution to the compliance issue. Based on robust, proven software, Seahorse is accessed via a standard web browser. It guides filers through a simple workflow process, without the need to understand the intricacies of XBRL.
Seahorse provides two complementary approaches:
- Generation of Microsoft® Excel forms; conversion of manually completed forms into validated XBRL documents
- XBRL conversion of data retrieved from BI systems, data warehouses or other operational data stores
Conversion of Excel templates
Manually complete Microsoft® Excel forms generated by Seahorse to produce valid XBRL disclosures. Seahorse handles COREP reporting templates for Large Exposures, Own Funds & Leverage, Net Stable Funding, Liquidity Coverage Ratio and Asset Encumbrance, as well as FINREP requirements.
NEW: Seahorse now accepts the upload of any COREP, FINREP or Solvency II report produced in XBRL format and seamlessly converts it into the Excel templates ready for editing and creation of a revised, fully validated XBRL document.
Asset Encumbrance reporting
The first reference date for the new Asset Encumbrance quarterly report under the CRD IV mandate was 31st December 2014 and the reporting deadline was 11th February, 2015. Seahorse already contained the new templates, so existing clients did not have to worry about this new report.
Handling large data volumes
NEW: To assist financial institutions that need to extract large amounts of data from internal data stores there's an alternative option. It makes use of the CSV file format that is widely used, universally supported, and extremely simple. Large amounts of source data can easily be transformed into CSV format by performing a little basic coding and mapping, or by using your favourite ETL (Extract, Transform and Load) tool. Seahorse then takes the CSV output and provides seamless conversion into valid XBRL, saving time, effort and conversion cost.
Both Seahorse regulatory filing solutions are built upon the stringent validation offered by True North®, so you can rely on the production of quality filings.
Key elements of the solution
- Provides end-users with an attractive, intuitive interface in which to manage COREP, FINREP and Solvency II report production
- SaaS environment that complies with data protection laws and common security standards
- Easy management of user accounts, filers and filings using a mature system and uncomplicated workflow
- Online tracking of the progress of individual disclosures, giving the flexibility to complete the task anywhere
- No software to install locally, regular updates (e.g. taxonomy changes) and automatic data back-up
- Bulk data conversion option using CSV file format
- XBRL Formula validation available as an optional extra
A major benefit of using a cloud-based environment to manage this process is that users need only a web browser to produce high quality XBRL reports.
More complex requirements?
Financial institutions needing a tightly integrated reporting framework should take a look at our XBRL Disclosure Management Platform solution.
iXBRL reporting with Seahorse
Seahorse is already is in widespread use across the UK and Ireland for the generation of iXBRL (inline XBRL) documents for submission against the corporation tax mandates in those countries.