United Kingdom

K-Helix: Common reporting software 

From Q1 2014, the FCA and PRA require most banks, building societies and investment firms to report under CRD IV in a new XBRL format. This means that all affected firms will need to procure technology to ensure compliance come the 30 April and 30 May 2014 deadlines. . 

 

People walking along River Thames in rain

Background

 

Using our expertise in this area, combined with KPMG's deep Financial Services industry knowledge, we have designed a simple solution designed to remove the pain of XBRL from the filing process. 

 

The K-Helix software

 

Core Functionality:

 

  • Allows easy consolidation and entry of data into COREP templates.
  • Converts data automatically to XBRL and performs all technical validation checks, without any user action or knowledge of XBRL.
  • Allows for establishment of managed links to and integration of spreadsheet data sources.

 

Additional Features:

 

  • Maintains a record of data filed and allows easy updating of information at the next reporting period.
  • Keeps a user-by-user and cell-by-cell audit trail.
  • Allows for comparisons between filings.
  • Simple design so can be implemented quickly with minimum handholding and at a nominal cost.

 

FCA Guidelines:

 

  • Continually updated for any new templates or amendments to the templates.
  • Allows direct submission to the FCA from within the software.
  • Fully compliant with FCA requirements for submission formats.  

 

For more information on the FCA guidelines for submission please click here.

 

Client Testimonials:

 

"User friendly and well thought out solution. Uncomplicated with good functionality, minimal training required. Excellent cost/benefit in comparison to other vendor solutions. Good layout. Dash board controls, real time validations, complete error mapping/linking is available on one screen." - Project Manager: COREP, Australian Bank
“KPMG’s K-Helix is an impressive COREP-FINREP regulatory reporting tool. It is fully transparent with a clear audit trail and validation checks.”
- Regulatory Compliance Manager, UK branch of Chinese Bank

 

Next steps
 

Our clients have been using the tool since September 2013. If you would like to see a demonstration of the software, please click here.

  

 

Contact us

Bivek Sharma

Bivek Sharma

Partner

020 7311 8926

bivek.sharma@kpmg.co.uk

Jonathan Cobb

Jonathan Cobb

Director

020 7311 8723

jonathan.cobb@kpmg.co.uk

Russell Gammon

Russell Gammon

Manager

020 7694 1237

russell.gammon@kpmg.co.uk

Ragavan Sathanandan

Ragavan Sathanandan

Assistant Manager

020 7694 4457

ragavan.sathanandan@kpmg.co.uk