IReF
Data Alchemy for Banks: IReF – The RegTech Initiative for Large Scale Data Integration and Reporting
The Integrated Reporting Framework[1] (IReF) is a golden opportunity to increase the quality and efficiency of existing reporting processes, and, not in the spotlight, analytics. While the strategy of this data ecosystem has been discussed and, slowly but surely moving forward between traditional incumbents, not much is been discussed in getting the tech requirements right. […]
The (slightly longer…) roadmap to IReF implementation
Last December ECB and EBA jointly published the output of a broad industry workshop “on the way forward”, based also on the results of the second cycle of the IReF Cost and Benefits Assessment (CBA), executed in September 2022. As expected, the CBA outcome showed overwhelming support across Banking industry segments, including – which was […]
BIRD and IReF: A paradigm shift in regulatory reporting
Introduction The regulations of national, European and international supervisors are constantly changed and expanded: additional information is required, requirements change, and reporting structures have to be modified. The European System of Central Banks (ESCB) has a long-term objective to improve the consistency of data collection from banks in order to reduce the reporting burden on […]