SQL Power and CoreFiling team up to deliver enhanced Supervisory (SupTech) Solution for Europe
TORONTO, ON, CANADA, September 12, 2023/EINPresswire.com/ - SQL Power, the global leader in Financial Regulation, Digital Transformation, and Advanced Analytics is proud to announce its newly formed partnership with CoreFiling.
The partnership between SQL Power and CoreFiling represents a significant milestone in the industry, combining the innovations and expertise of two supervisory powerhouses to address the evolving challenges faced by regulators in today's data-driven landscape. By leveraging their respective technologies and domain expertise, the collaboration seeks to empower organizations with enhanced capabilities in collecting, managing, analyzing, and reporting on critical oversight data in real time.
The SQL Power Suite, the only configurable XBRL-based online data collection and case management platform in the World, will leverage CoreFiling’s flagship XBRL Processing Engine, the True North Data Platform (TNDP) as well as their broad and deep expertise in EU Taxonomies to offer real-time cell-by-cell online validation of all financial submissions.
The TNDP is a suite of applications and services with a comprehensive set of granular APIs that directly address the challenges of defining and moving data efficiently through complex data ecosystems. CoreFiling’s XBRL processing platform supports all the major EBA, EIOPA and ESMA taxonomies as well as international accounting standards, prudential regulation and company registration around the World.
“The SQL Power integration makes use of CoreFiling’s new granular, web-based APIs that deliver accelerated development of applications that use XBRL technology,” said Philip Allen, Executive Chairman of CoreFiling. “The APIs take on the otherwise complex task of creating XBRL taxonomies and extensions and enable real-time validation of XBRL reports.”
CoreFiling will also provide First Level Support from the UK for SQL Power customers, ensuring that customers in Africa and Europe receive prompt support in their local time zone. Additionally, SQL Power and CoreFiling will collaborate on regulatory projects throughout EMEA, leveraging their combined expertise to address complex regulatory reporting challenges across different jurisdictions. This collaboration will enhance the overall customer experience and ensure seamless expert implementations and support of the integrated solution.
“We are excited to partner with CoreFiling, as our companies share a common vision of delivering powerful and comprehensive XBRL solutions for regulators in Europe and around the World," said Sam Selim, President & Chief Innovation Officer of SQL Power Group. "By integrating our respective market-leading technologies, we can provide progressive regulators with all the tools required to fully implement Risk-Based Supervision in a streamlined and efficient manner providing Worldwide Regulators with operational efficiency and real-time decision-making.”
SQL Power’s highly configurable supervisory platform automates every aspect of a financial regulator's supervisory functions and will now leverage CoreFiling’s gold standard XBRL Processing Engine which is explicitly trusted by leading regulators and central banks on four continents.
About SQL Power
Founded in 1989, SQL Power Group Inc. is a global application software firm specializing in Financial Regulation, Digital Transformation, and Advanced Analytics.
SQL Power is at the forefront of regulatory software innovation - rolling out the world's first fully-integrated XBRL-based data collection, risk management, case management, and advanced analytics solution in 2009. The platform integrates easily with existing regulators’ legacy systems and evolves seamlessly alongside changes to Global Financial Standards and customer needs.
Founded in 1997, CoreFiling is a software and services company with global reach, renowned as a provider of regulatory reporting software solutions. With specialized solutions that simplify and streamline the reporting process for regulators and filers alike, CoreFiling's flagship product, the True North data platform, is widely recognized for its advanced XBRL capabilities, enabling businesses to meet complex regulatory reporting requirements with accuracy and ease. CoreFiling’s customer-centric approach and deep industry expertise ensure that CoreFiling continues to be a trusted partner for any organization seeking efficient regulatory reporting solutions. CoreFiling was the original inventor and developer of the Inline XBRL standard, now used for mandatory company filings in most OECD countries.
Watch how we utilize our highly configurable platform to automate all your regulatory functions through an easy-to-use, centralized web portal.
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