Email: DCS Subscriber Update 9 - June 2019

Dear subscriber,

This update provides a summary of the feedback we received on the Implementation Plan, how we’ve been engaging with the industry since April and what’s coming up next.

Industry feedback on the Implementation Plan 

The Implementation Plan, released in April, provides entities, service providers and software vendors with level guidance on how to prepare for the new Data Collection Solution.

We’d like to thank everyone who has provided feedback on the plan so far, including the 37 organisations who completed our survey. Key highlights of what you told us:

• There is a solid understanding of why APRA is replacing D2A and respondents across the board are positive towards the change
• There is some concern about the March 2020 go-live, indicating that this is a tight implementation timeframe
• There is a desire for training to be scheduled well in advance and flexible, to enable entities to balance training alongside busy year-end reporting and regular day-to-day tasks.
• Entities, service providers and software vendors are seeking more detailed information about the key changes for go-live, the actions entities need to take to prepare for go-live, and the support APRA will provide throughout the process

All the feedback provided will be taken into account and we expect to provide more detail about these topics in our next Implementation Plan, due for release at the end of July.

Ongoing Engagement with Industry

The DCS team is continuing to engage with entities, service providers and RegTechs to prepare for implementation. You can find out more about who’s represented in these groups and the latest minutes of our meetings..

Other recent engagements include:

• A range of individual and group meetings with Technical Working Group and Strategic Industry Reference Group members to better understand different submission methods and look at sample data
• A webinar with software vendors on 29 May to ensure they are up to speed with what’s happening and are provided with the opportunity to ask questions. Several questions were raised on APIs and the technical details to support this. It is important to note that APIs are not mandatory for entities to use at go-live
• Presentations at the AFMA conference and RegTech Matters webinar.

How you can support

As part of APRA’s analysis for the new solution, we are seeking sample submission files (i.e. XML or XBRL) with test data from entities, service providers and software vendors. The analysis of the sample submission files will help to validate our understanding of how entities currently submit data through D2A. Although the forms will not change at go-live, there may be some potential gaps between what entities currently submit and what APRA receives via D2A. This will assist us in minimising any impacts at go-live. If you are able to support, please email the DCS team.  

Thank you for your continued interest in our new Data Collection Solution. Please continue to provide any feedback via email to the DCS team. 

Yours sincerely,

Daniel Hunt
Business Lead, Data Collection Solution

Visit the APRA is Replacing D2A webpage. Click here to unsubscribe to updates on the new Data Collection Solution project.