Our Clients

The Bank of England was in need of a solution that could collect a variety of data from external entities, and do so securely. The solution also had to perform appropriate business data, and plausibility validation on the data as well as allow users to load, define, apply and maintain business data and plausibility validation rules. In addition, XBRL processing, (including extraction and loading to downstream systems) was also an essential requirement.

The Insurance Supervision Agency was set up as an independent regulatory authority that shall promote the fair and efficient functioning of the insurance market with the objective of protection of the rights of the insurance policyholders and beneficiaries.

The Bermuda Monetary Authority (the Authority or BMA) regulates Bermuda's financial services sector. The Authority develops risk-based financial regulations that it applies to the supervision of Bermuda’s banks, trust companies, investment businesses, investment funds, fund administrators, money service businesses, corporate service providers and insurance companies. It also regulates the Bermuda Stock Exchange.

Established in 2006, the Financial Supervisory Authority (AFSA) is a public-law independent institution responsible for regulating and overseeing the non-bank financial system and operators operating in this sector. AFSA reports to the Assembly on its activity.

The main field of our activity is regulation and supervision:

• the activity of the insurance market and its operators, the market activity of the securities and its operators;
• of the market activity of voluntary pension funds and its operators;
• of other non-bank financial activities ".

Bank of Albania is the sole institution in the Republic of Albania responsible for designing, compiling, approving and implementing the monetary policy.  Monetary policy is the set of principles, measures and instruments, through which the central bank intervenes in the financial markets and in the economy, to achieve its price stability objective.

 The Monetary Policy is designed in the view of achieving the main objective of the Bank of Albania "to achieve and maintain price stability". It includes the intervention and/or position of the Bank of Albania towards financial markets to achieve its main objective.

The monetary policy summarises the respective legal framework (link), the theoretical background employed for modelling, the operational target of monetary policy and the set of monetary instruments used to finalize the monetary policy goals.

The Central Bank of The Bahamas has implemented the Online Reporting and Information Management System (ORIMS). The new financial regulatory technology, strategically implemented by Vizor, provides comprehensive business intelligence to the Central Bank as well as significantly improves data collection, validation, storage, and reporting.

The Bank of Jamaica has implemented the Jamaica Financial Institutions Reporting Management System (JamFIRMS). The system, implemented by Vizor, is used to enhance and support the Central Bank’s Supervisory, Regulatory and Financial Stability oversight functions by improving the data collection processes for reporting, analysis and data dissemination.

The December 2001 enactment of the Financial Services Commission Act, 2001 established the British Virgin Islands Financial Services Commission as an autonomous regulatory authority responsible for the regulation, supervision and inspection of all financial services in and from within the BVI.

Regulated activities which are considered financial services include: insurance, banking, fiduciary services, trustee business, company management, investment business and insolvency services as well as the registration of companies, limited partnerships and intellectual property.

The Insurance Commission of The Bahamas was established on July 2, 2009, under The Insurance Act 2005, Chapter 347, and is responsible for the regulation and control of all insurers and intermediaries. 

In its role as both the prudential and market conduct regulator, its purpose is to ensure a sound and stable insurance marketplace and consumer confidence in the insurance industry. 

Vizor Software's regulatory reporting solution has been implemented at the Securities Commission of The Bahamas (SCB) where it is used to capture information of all regulated persons, create high priority reports, and consolidate all data from multiple databases into one.

SAMA, the Central Bank for the Kingdom of Saudi Arabia, went live on March 31st, 2015 with phase one of a three-phase regulatory software implementation developed and executed by Vizor Ltd. The Kingdom of Saudi Arabia is a member of the G20.

The Namibia Financial Institutions Supervisory Authority (NAMFISA) is an independent institution established by virtue of Act No. 3 of 2001 to regulate and supervise financial institutions in the financial services industry in the public interest and fully funded by levies imposed on this industry.

The National Insurance Commission (NIC) was established under Insurance Law 1989 (PNDC Law 227) but now operates under Insurance Act, 2006 (Act 724). The object of the Commission, as detailed in Act 724 is to ensure effective administration, supervision, regulation and control of the business of Insurance in Ghana. NIC is mandated to perform a wide spectrum of functions including licensing of entities, setting of standards and facilitating the setting of codes for practitioners. The Commission is also mandated to approve rates of insurance premiums and commissions, provide a bureau for the resolution of complaints and arbitrate insurance claims when disputes arise.

Tanzania Insurance Regulatory Authority was established under the Insurance Act No.10 of 2009 with the mission to develop, promote and maintain an inclusive, efficient, fair, safe and stable insurance market for the benefit and protection of policyholders.

The Insurance Regulatory Authority (IRA) chose Vizor Software to implement an Electronic Reporting System (ERS) with an overall functional scope that included Financial Data Collection & Analysis, On-Site Inspections and Document Management. The system automates an array of functionality for IRA supervisory staff, including tracking submissions and reporting on overdue submissions. Also, automatic data analysis is performed on data submitted by the regulated entities with automatic aggregation of returns to produce aggregate market data as summary reports.

Zambia's Pension and Insurance Authority selected Vizor Software to implement their new Supervisory Information Management system. The resulting system collects regulatory data on a quarterly and annual basis. The system also provides a solution for on-site and off-site inspections, risk-based supervision and licensing for new market applicants and continuously updates a regulated entity’s risk profile through ongoing supervision activities and assessment, which is used to determines ongoing frequency and intensity of supervision.

The Non-Bank Financial Institutions Regulatory Authority Act 2006 established the Non-bank Financial Institutions Regulatory Authority (NBFIRA), after the endorsement (by Government) of the Carmichael Consulting Report, which recommended the setup of a single independent Non-Bank Financial Institutions regulator. 

“My department made the best decision ever to have Vizor as our solution provider for financial supervision.”

Bridget Thaga, Information Technology, NBFIRA

AMBD employs the Centralised Statistical System (CSS) by Vizor Software. The solution provides a single portal to collect financial data from external entities, allowing AMBD to produce insightful and detailed reports. It also improves the supervisory lifecycle through the use of Vizor Software’s workflow features, as well as the quality of data being submitted through automatic validation checks.

Vizor was awarded a contract for the delivery and support of a Financial Reporting System based on Inline XBRL (iXBRL) instance documents for Ukrainian Financial Regulators. Vizor will provide an integrated software system allowing the reception, processing, validation and disclosure of financial statements from reporting entities and their audit reports, ensuring market transparency and information disclosure by market participants. It will be based on iXBRL instance documents, prepared according to the Ukrainian IFRS 2018 Taxonomy.

APRA selected Vizor to replace the existing data reporting system, Direct to APRA (D2A). In its place, Vizor will provide a modern, efficient, web-based system, improving APRA’s core data collection capabilities.  The new system will be used by more than 4,500 financial sector entities to meet their regulatory reporting requirements to APRA. 

The Bank of Ghana awarded Vizor a contract to implement a fully integrated financial surveillance system. The solution provides a single portal to collect prudential data from banks and deposit-taking institutions and manage the review and approval of license and authorisation requests from reporting entities.

The Government of Bermuda, Ministry of Finance, Treaty Unit depends on the Vizor for FATCA & AEOI Solution for Tax Authorities.

Vizor Software has partnered with the Ministry of Finance, Government of The Bahamas to use the Vizor AEOI solution to effectively implement the country’s OECD Common Reporting Standard (CRS) commitments for the Automatic Exchange of Information (AEOI).

The British Virgin Islands Government (BVIG) has an Agreement with the U.S. Internal Revenue Service to comply with the Foreign Account Tax Compliance Act (FATCA), a United States Government (USG) tax-reporting initiative. BVIG has also signed a similar agreement with Government of the United Kingdom (UKG) and reporting under this Agreement starts in 2016. In addition, with the Convention on Mutual Administrative Assistance in Tax Matters being extended to the BVI and the BVI adopting the Common Reporting Standards, in 2017 the BVIG will also exchange information with Tax Authorities in other jurisdictions. The intention is for BVIG to use the Vizor platform for the Exchange of Information under these Agreements.

Vizor was selected by the Cayman Islands Tax Information Authority (TIA) to build and implement the Vizor for FATCA & AEOI solution. Vizor was selected in part due to our out-of-the-box solution which included all of the functionality necessary to meet the commitments associated with US FATCA and AEOI. Our pre-existing partnership with Deloitte, and our successful work in the Caribbean were also factors. 

The Government of St. Kitts and Nevis adopted the Vizor for FATCA & AEOI solution to meet obligations under an Agreement with the U.S. Internal Revenue Service to comply with the Foreign Account Tax Compliance Act (FATCA), a United States Government (USG) tax-reporting initiative.

Panama MEF chose Vizor Software for its Directorate General of Revenues (Dirección General de Ingresos, DGI) to meet their obligations under its Intergovernmental Agreement with the United States’ Internal Revenue Service (IRS).

Ministry of Finance, Government of Belize use the Vizor AEOI solution for cross-border information exchange under the OECD Common Reporting Standard.

The General Authority of Zakat and Tax (GAZT) is a government agency headquartered in Riyadh and organizationally linked to the Ministry of Finance.

Ministry of Finance – State of Kuwait adopted the Vizor Software for FATCA & AEOI solution to meet its FATCA obligations under the terms of its Intergovernmental Agreement (IGA) with the United States of America’s Internal Revenue Service (IRS).

Federal Board of Revenue, Government of Pakistan use the Vizor AEOI solution for cross-border information exchange under the OECD Common Reporting Standard.

The General Tax Administration, Ministry of Finance, Government of Angola has adopted the Vizor AEOI solution to effectively implement the country’s FATCA obligations. The Vizor solution is used to gather FATCA returns from financial institutions (FIs) and facilitate the production of an extract for transmission to the US Internal Revenue Service (IRS). The most notable feature of the solution is an online portal easily accessible by Angolan FIs to register and report the required account data.

The Guyana Revenue Authority has adopted the Vizor AEOI solution to effectively implement the country’s FATCA obligations. The Vizor solution is used to gather FATCA returns from financial institutions (FIs) and facilitate the production of an extract for transmission to the US Internal Revenue Service (IRS). The most notable feature of the solution is an online portal easily accessible by Angolan FIs to register and report the required account data.

Saint Lucia signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters (MAC) in November 2016 and submitted the first AEOI reports in September 2018.

The General Tax Authority was established as a separate entity, under the supervision of the Ministry of Finance, and is in charge of the implementation of all tax laws. The GTA’s mandate includes:

• The implementation of all tax laws and setting up all related bylaws, procedures and instructions.
• Reviewing and assessing tax return forms submitted by all establishments and the collection of taxes from subject entities.
• Representing the State of Qatar in relevant international and regional organizations as well as at international conferences and events.
• Signing agreements with other countries regarding the prevention of double taxation to encourage economic cooperation and joint investments.

The assessment and collection of income tax is currently governed by the Income Tax Act 2010, Rules and Regulations. That act was enacted in 2010 and came into effect on 1st January 2011.

The Bank of England was in need of a solution that could collect a variety of data from external entities, and do so securely. The solution also had to perform appropriate business data, and plausibility validation on the data as well as allow users to load, define, apply and maintain business data and plausibility validation rules. In addition, XBRL processing, (including extraction and loading to downstream systems) was also an essential requirement.

The Insurance Supervision Agency was set up as an independent regulatory authority that shall promote the fair and efficient functioning of the insurance market with the objective of protection of the rights of the insurance policyholders and beneficiaries.

The Government of Bermuda, Ministry of Finance, Treaty Unit depends on the Vizor for FATCA & AEOI Solution for Tax Authorities.

The Bermuda Monetary Authority (the Authority or BMA) regulates Bermuda's financial services sector. The Authority develops risk-based financial regulations that it applies to the supervision of Bermuda’s banks, trust companies, investment businesses, investment funds, fund administrators, money service businesses, corporate service providers and insurance companies. It also regulates the Bermuda Stock Exchange.

Established in 2006, the Financial Supervisory Authority (AFSA) is a public-law independent institution responsible for regulating and overseeing the non-bank financial system and operators operating in this sector. AFSA reports to the Assembly on its activity.

The main field of our activity is regulation and supervision:

• the activity of the insurance market and its operators, the market activity of the securities and its operators;
• of the market activity of voluntary pension funds and its operators;
• of other non-bank financial activities ".

Bank of Albania is the sole institution in the Republic of Albania responsible for designing, compiling, approving and implementing the monetary policy.  Monetary policy is the set of principles, measures and instruments, through which the central bank intervenes in the financial markets and in the economy, to achieve its price stability objective.

 The Monetary Policy is designed in the view of achieving the main objective of the Bank of Albania "to achieve and maintain price stability". It includes the intervention and/or position of the Bank of Albania towards financial markets to achieve its main objective.

The monetary policy summarises the respective legal framework (link), the theoretical background employed for modelling, the operational target of monetary policy and the set of monetary instruments used to finalize the monetary policy goals.

The Central Bank of The Bahamas has implemented the Online Reporting and Information Management System (ORIMS). The new financial regulatory technology, strategically implemented by Vizor, provides comprehensive business intelligence to the Central Bank as well as significantly improves data collection, validation, storage, and reporting.

Vizor Software has partnered with the Ministry of Finance, Government of The Bahamas to use the Vizor AEOI solution to effectively implement the country’s OECD Common Reporting Standard (CRS) commitments for the Automatic Exchange of Information (AEOI).

The Bank of Jamaica has implemented the Jamaica Financial Institutions Reporting Management System (JamFIRMS). The system, implemented by Vizor, is used to enhance and support the Central Bank’s Supervisory, Regulatory and Financial Stability oversight functions by improving the data collection processes for reporting, analysis and data dissemination.

The December 2001 enactment of the Financial Services Commission Act, 2001 established the British Virgin Islands Financial Services Commission as an autonomous regulatory authority responsible for the regulation, supervision and inspection of all financial services in and from within the BVI.

Regulated activities which are considered financial services include: insurance, banking, fiduciary services, trustee business, company management, investment business and insolvency services as well as the registration of companies, limited partnerships and intellectual property.

The Insurance Commission of The Bahamas was established on July 2, 2009, under The Insurance Act 2005, Chapter 347, and is responsible for the regulation and control of all insurers and intermediaries. 

In its role as both the prudential and market conduct regulator, its purpose is to ensure a sound and stable insurance marketplace and consumer confidence in the insurance industry. 

Vizor Software's regulatory reporting solution has been implemented at the Securities Commission of The Bahamas (SCB) where it is used to capture information of all regulated persons, create high priority reports, and consolidate all data from multiple databases into one.

The British Virgin Islands Government (BVIG) has an Agreement with the U.S. Internal Revenue Service to comply with the Foreign Account Tax Compliance Act (FATCA), a United States Government (USG) tax-reporting initiative. BVIG has also signed a similar agreement with Government of the United Kingdom (UKG) and reporting under this Agreement starts in 2016. In addition, with the Convention on Mutual Administrative Assistance in Tax Matters being extended to the BVI and the BVI adopting the Common Reporting Standards, in 2017 the BVIG will also exchange information with Tax Authorities in other jurisdictions. The intention is for BVIG to use the Vizor platform for the Exchange of Information under these Agreements.

Vizor was selected by the Cayman Islands Tax Information Authority (TIA) to build and implement the Vizor for FATCA & AEOI solution. Vizor was selected in part due to our out-of-the-box solution which included all of the functionality necessary to meet the commitments associated with US FATCA and AEOI. Our pre-existing partnership with Deloitte, and our successful work in the Caribbean were also factors. 

The Government of St. Kitts and Nevis adopted the Vizor for FATCA & AEOI solution to meet obligations under an Agreement with the U.S. Internal Revenue Service to comply with the Foreign Account Tax Compliance Act (FATCA), a United States Government (USG) tax-reporting initiative.

Panama MEF chose Vizor Software for its Directorate General of Revenues (Dirección General de Ingresos, DGI) to meet their obligations under its Intergovernmental Agreement with the United States’ Internal Revenue Service (IRS).

Ministry of Finance, Government of Belize use the Vizor AEOI solution for cross-border information exchange under the OECD Common Reporting Standard.

SAMA, the Central Bank for the Kingdom of Saudi Arabia, went live on March 31st, 2015 with phase one of a three-phase regulatory software implementation developed and executed by Vizor Ltd. The Kingdom of Saudi Arabia is a member of the G20.

The General Authority of Zakat and Tax (GAZT) is a government agency headquartered in Riyadh and organizationally linked to the Ministry of Finance.

Ministry of Finance – State of Kuwait adopted the Vizor Software for FATCA & AEOI solution to meet its FATCA obligations under the terms of its Intergovernmental Agreement (IGA) with the United States of America’s Internal Revenue Service (IRS).

The Namibia Financial Institutions Supervisory Authority (NAMFISA) is an independent institution established by virtue of Act No. 3 of 2001 to regulate and supervise financial institutions in the financial services industry in the public interest and fully funded by levies imposed on this industry.

The National Insurance Commission (NIC) was established under Insurance Law 1989 (PNDC Law 227) but now operates under Insurance Act, 2006 (Act 724). The object of the Commission, as detailed in Act 724 is to ensure effective administration, supervision, regulation and control of the business of Insurance in Ghana. NIC is mandated to perform a wide spectrum of functions including licensing of entities, setting of standards and facilitating the setting of codes for practitioners. The Commission is also mandated to approve rates of insurance premiums and commissions, provide a bureau for the resolution of complaints and arbitrate insurance claims when disputes arise.

Tanzania Insurance Regulatory Authority was established under the Insurance Act No.10 of 2009 with the mission to develop, promote and maintain an inclusive, efficient, fair, safe and stable insurance market for the benefit and protection of policyholders.

The Insurance Regulatory Authority (IRA) chose Vizor Software to implement an Electronic Reporting System (ERS) with an overall functional scope that included Financial Data Collection & Analysis, On-Site Inspections and Document Management. The system automates an array of functionality for IRA supervisory staff, including tracking submissions and reporting on overdue submissions. Also, automatic data analysis is performed on data submitted by the regulated entities with automatic aggregation of returns to produce aggregate market data as summary reports.

Zambia's Pension and Insurance Authority selected Vizor Software to implement their new Supervisory Information Management system. The resulting system collects regulatory data on a quarterly and annual basis. The system also provides a solution for on-site and off-site inspections, risk-based supervision and licensing for new market applicants and continuously updates a regulated entity’s risk profile through ongoing supervision activities and assessment, which is used to determines ongoing frequency and intensity of supervision.

The Non-Bank Financial Institutions Regulatory Authority Act 2006 established the Non-bank Financial Institutions Regulatory Authority (NBFIRA), after the endorsement (by Government) of the Carmichael Consulting Report, which recommended the setup of a single independent Non-Bank Financial Institutions regulator. 

“My department made the best decision ever to have Vizor as our solution provider for financial supervision.”

Bridget Thaga, Information Technology, NBFIRA

Federal Board of Revenue, Government of Pakistan use the Vizor AEOI solution for cross-border information exchange under the OECD Common Reporting Standard.

AMBD employs the Centralised Statistical System (CSS) by Vizor Software. The solution provides a single portal to collect financial data from external entities, allowing AMBD to produce insightful and detailed reports. It also improves the supervisory lifecycle through the use of Vizor Software’s workflow features, as well as the quality of data being submitted through automatic validation checks.

The General Tax Administration, Ministry of Finance, Government of Angola has adopted the Vizor AEOI solution to effectively implement the country’s FATCA obligations. The Vizor solution is used to gather FATCA returns from financial institutions (FIs) and facilitate the production of an extract for transmission to the US Internal Revenue Service (IRS). The most notable feature of the solution is an online portal easily accessible by Angolan FIs to register and report the required account data.

Vizor was awarded a contract for the delivery and support of a Financial Reporting System based on Inline XBRL (iXBRL) instance documents for Ukrainian Financial Regulators. Vizor will provide an integrated software system allowing the reception, processing, validation and disclosure of financial statements from reporting entities and their audit reports, ensuring market transparency and information disclosure by market participants. It will be based on iXBRL instance documents, prepared according to the Ukrainian IFRS 2018 Taxonomy.

The Guyana Revenue Authority has adopted the Vizor AEOI solution to effectively implement the country’s FATCA obligations. The Vizor solution is used to gather FATCA returns from financial institutions (FIs) and facilitate the production of an extract for transmission to the US Internal Revenue Service (IRS). The most notable feature of the solution is an online portal easily accessible by Angolan FIs to register and report the required account data.

APRA selected Vizor to replace the existing data reporting system, Direct to APRA (D2A). In its place, Vizor will provide a modern, efficient, web-based system, improving APRA’s core data collection capabilities.  The new system will be used by more than 4,500 financial sector entities to meet their regulatory reporting requirements to APRA. 

The Bank of Ghana awarded Vizor a contract to implement a fully integrated financial surveillance system. The solution provides a single portal to collect prudential data from banks and deposit-taking institutions and manage the review and approval of license and authorisation requests from reporting entities.

Saint Lucia signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters (MAC) in November 2016 and submitted the first AEOI reports in September 2018.

The General Tax Authority was established as a separate entity, under the supervision of the Ministry of Finance, and is in charge of the implementation of all tax laws. The GTA’s mandate includes:

• The implementation of all tax laws and setting up all related bylaws, procedures and instructions.
• Reviewing and assessing tax return forms submitted by all establishments and the collection of taxes from subject entities.
• Representing the State of Qatar in relevant international and regional organizations as well as at international conferences and events.
• Signing agreements with other countries regarding the prevention of double taxation to encourage economic cooperation and joint investments.

The assessment and collection of income tax is currently governed by the Income Tax Act 2010, Rules and Regulations. That act was enacted in 2010 and came into effect on 1st January 2011.