APRA has commenced a major data transformation program to keep pace with advancements in data, analytics and technology. Replacing our data collection tool, Direct to APRA (D2A), is critical to this program.
We need your input to design a new Data Collection Solution.
"We are committed to working with you to design and implement a more modern, efficient and user-friendly data collection solution that benefits both APRA and industry for years to come."
- Sean Carmody, EGM Risk & Data Analytics
We have listened to stakeholder feedback calling for a system that is simpler, easier to use and requires less manual entry. We now want your guidance and feedback to shape a solution that, as a minimum, will:
- Adapt to future needs. The new solution will adapt as reporting requirements, data analytics and technology continue to evolve.
- Reduce ongoing maintenance and support costs. The new solution will enable data uploads, so it is less dependent on manual data entry than D2A. It will also be web based, which simplifies system maintenance.
- Be easier to use. The new system will have a more modern, intuitive user interface and will not require software to be downloaded onto a specific machine.
The new system will align with our commitment to the Australian Government initiative to use Standard Business Reporting (SBR) reporting taxonomies. APRA has been progressively adopting SBR since 2011. APRA intends to develop the new system fully based on SBR. Stakeholder feedback will help inform the transition from D2A attribute codes to SBR.
Replacing D2A will not remove the obligation to report data to APRA or change the frequency and content of submissions.
Your organisation will also continue to report data to multiple government agencies. However, we are exploring opportunities for more effective data sharing with other agencies.
We intend to finalise the design of the new Data Collection Solution this year and commence implementation from late 2018. The roll-out and transition period is expected to start from late 2019.
We recognise the introduction of the new system will affect your organisation financially and operationally. We want to work together to maximise the benefits and limit any negative impacts for the financial services industry.
To shape the new Data Collection Solution, we want to know:
- What design features and functions in the new system would benefit your organisation?
- What is involved in your organisation’s processes for compiling data to submit to APRA?
- How challenging will your organisation find it to switch from D2A attribute codes to SBR? How can APRA work with industry to lessen the burden of moving to the new system?
You can share your feedback through a variety of avenues that will be available now and on an ongoing basis as implementation takes place.
We are also running a series of industry round tables and technical working sessions with selected small groups. If you would like to be involved, please notify APRA directly (email email@example.com) or contact your industry body (where applicable) as soon as possible.
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If you have any questions, please contact APRA at firstname.lastname@example.org.
For industry-specific attendees, please select a webinar that is relevant to your industry from the list below:
For all other attendees or those unable to attend one of the above industry-specific sessions, please select one of the available public webinars.
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