IRIS iDEAL – Regulatory reporting application for banks & financial institutions

A solution trusted by over 200+ banks, credit institutions, and investment firms worldwide

IFR/IFD prudential regime

The Investment Firms Regulation (IFR) and Investment Firms Directive (IFD) prudential regime began to apply to all EU investment firms from June 26, 2021.

The new regime covers investment firms functioning under MiFiD II (Markets in Financial Instruments Directive II). It revises capital and liquidity requirements for the firms based on the ‘Class’ to which they belong.

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Class I Firms

These firms are considered systemically important. They will continue to comply with Capital Requirements Regulation; Capital Requirements Directive IV (CRR/CRD IV) regime.

Class II Firms

Firms in this category are considered non-systemic. They will be in full scope of the IFR/IFD regime. Class II firms’ capital requirements will be calculated using K-factors.

Class III Firms

Class III investment firms are also considered non-systemic. They will be in limited scope of the IFR/IFD regime.

For a smooth regulatory compliance with the highest quality & efficiency

IRIS iDEAL® acts as the bridge between an organization’s internal data systems and the regulator’s filing platform.
IRIS iDEAL® facilitates automated scheduling of XBRL document creation and report submission through a one-time mapping of internal reportable data to the taxonomy elements.

The IRIS iDEAL® Advantage

IRIS iDEAL^® has been meeting the regulatory compliance needs of over 100 banks, credit institutions and investment firms worldwide for over a decade now.

The IRIS iDEAL^® platform helps produce highly reliable and accurate XBRL data. We promise a quick turnaround in the event of taxonomy and business rule changes.

IRIS iDEAL^® facilitates automation of XBRL reporting through seamless integration of multiple data sources. The platform is database agnostic.

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An Intelligent Solution

Data Extraction

Capable of extracting data from multiple source systems and from multiple file formats (CSV, Excel® etc). Also has the ability to process XML data directly for XBRL conversion.

Validations

Built-in intelligent validations are executed at runtime to validate data against XBRL rules. Custom validations based on internal business rules can also be implemented prior to XBRL conversion.

Mapping Data Elements with XBRL Tags

Has an intuitive mapping module that displays a regulator’s form (taxonomy) and allows users to map extracted source data elements with a simple drag and drop operation.

Email Notification

Triggers automated email notifications to authorised users giving the status of scheduled XBRL instance generation activity for the returns.

Audit Trail

Tracks operations of users who have access to the IRIS iDEAL® application for compliance purposes.

Scheduler

Allows users to schedule/automate XBRL instance generation activity based on the reporting frequency.

We can help you with your IFR/IFD reporting

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