2020 Release

The Vizor Software 2020 Product Release provides a new API solution platform, facilitating machine-to-machine data exchange between Financial Institutions, the Regulator and other regulatory partners. The solution provides collections of API endpoints and connectors which allow Financial Institutions and external agencies to integrate their backend systems with the core Vizor Platform.

Several new workflow triggers and workflow tasks have also been added to facilitate improved business process automation for supervisors. Now workflows can be scheduled, resubmission request decisions can be rule based, ‘To Do’ tasks can elapse with automatic progression to other workflow tasks based on time thresholds.

In the current climate, remote working and online based learning has become increasingly important. Vizor has recently introduced Online Training Academy, the comprehensive training platform which is frequently updated in line with the product roadmap.

Supervisors need flexible ways of integrating with other internal systems and exchanging data with peer agencies. Vizor has developed a multi-purpose API Connector add-on which allows different data sources to be distributed to and retrieved from a REST API endpoint of a third-party solution, with no discrepancy or lag in the exchange.

Examples of supported “Push” use cases:

• Send uploaded documents to your DMS (e.g. SharePoint)
• Distribute granular data sets to a big data database (e.g. Hadoop)
• Send calculated fee amounts to your invoicing system
• Send statistical data to a partner agency

Examples of supported “Pull” use cases:

• Pull data to an Entity Profile from a Master Data Management system on a scheduled basis (e.g. daily)
• Pull reference data from a 3rd party system

Regulatory reporting requirements are increasingly becoming more granular, frequent, and demanding for both Regulators and Financial Institutions to manage. Regulators are looking to reduce the reporting burden on their industry by providing machine-readable, standardised data models and multiple channels and formats for reporting. Financial Institutions are looking for supervisors to offer machine-to-machine submission & communication options, with manual intervention only when necessary.

Vizor APIs provide a well-documented and modern interface, which is easy to use and future proofed. The Returns API collection allows reporting entities get information on draft filings and submit data against these in a highly efficient and secure way.

Supervisors need to mitigate the overhead involved in getting collected data ready for analysis and meeting service level agreements.

The workflow component has been elaborated further to support automated business process management.

• Intelligently manage data adjustments (via FI resubmissions) during a period where data needs to be ‘locked down’ for analysis
• Automatically progress workflows to other tasks or processes when task due dates elapse
• Schedule workflows to ‘pull’ data from external systems and other data sources

With approximately 50% of the world's population staying at home and the majority of financial regulators also implementing full or partial work from home policies, it’s more important than ever to facilitate remote learning and self-service. Vizor has been delivering services remotely for over 20 years and has recently introduced its Online Training Academy. This comprehensive training platform is carefully designed to be highly engaging, allowing access to Vizor Certification training courseware depending on solutions deployed and content needs.

Along with the ability to seamlessly onboard & certify new personnel utilizing a variety of methods and offer refresher training, this highly engaging platform is frequently updated in line with the Vizor product roadmap to ensure new features and functionality are also covered.