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Software Vendor Working Group minutes 20 August 2019

Chair Daniel Hunt
Attendees

APRA

  • Daniel Hunt, Business Leader, DCS
  • Jane Coad, BCS Readiness Lead
  • Natalia Aziz, DCS & EDW Change Manager

SVWG

  • Prashant Awasthi (Verisk Financial)
  • Simon Agar (Risk IT Consulting Pty Ltd)
  • Sheri Andrews (BA Insurance Systems)
  • Matthew Artz (HAMBS)
  • Faye Benge (Ebix Pty Ltd)
  • Karl Blackler (Cortell Australia)
  • Ross Cameron (Grow Super)
  • Sida Chen (CIvica International)
  • Ivy Chen (Hua Nan Commercial Bank)
  • Douglas Cheung (Wolters Kluwer)
  • James Corner (Cortell)
  • Saumyadeep Datta (AxiomSL Pte Ltd)
  • Jack Ip (BNP Paribas)
  • Mudassir Ishtiaq (Vermeg Limited)
  • David Jordan (enteruptors)
  • Kiersten Lethbridge (Ebix Australia)
  • Anika Liebenberg (Pacific Health Dynamics)
  • Glenn Marsom (Steadfast)
  • Caroline Morgan (IRESS)
  • Andrew Morris (B A Insurnce Systems)
  • Simon Phillips (Javelin Ltd)
  • Chandan SP (Verisk Financial Services)
  • Kristi Salmi (Moneycatcha)
  • Mark Schneider (Solvexia)
  • Saranga Silva (AxiomSL)
  • Jingyu Wang  Colin Weir (SCOR Global Life Australia)
  • Grant Whytcross (Wolters Kluwer)
  • Andrew Wood (AxiomSL)
  • Leon d'Apice (Ebix Australia)
  • Sam Finucan (Bravura)
  • Shrikanth Amruthraj (Fintellix)
  • David Ams (IRESS) Hoa Bui (KPMG)
  • Wilson Choi
  • Paul Franks (SAS Institute Australia and New Zealand)
  • Melanie Jumeau (Moneycatcha)
  • Gary Morgan (Cegedim Insurance Solutions)
  • Shane Rigby (LIXI Limited)
  • David Rule (Wolters Kluwer)
  • Vivienne Saunders (Citigroup)
  • Dianne Sherry (IRESS)
  • Abraham Teo (AxiomSL) 
Date 20 August 2019
Location Held by Webinar from APRA office Sydney. 

1 Welcome and objectives (Daniel Hunt) 

APRA welcomed members of the group.  

2 Project update and timelines (Daniel Hunt) 

APRA released an update to the Implementation Plan on 30 July 2019. A key announcement in the plan was the extension of the project timelines. The test environment is planned to be available in the first quarter of 2020 and go-live later in 2020. Confirmation of the revised dates will be provided by October 2019.  

Feedback from entities has been supportive of the additional time. The extension addresses concerns previously raised by the SVWG of requiring additional lead time for the transition.  

The SVWG provided feedback on the steps they are taking to prepare for the new solution via a live poll during the webinar. The responses indicated:  

  • Over one-third of participants are beginning their journey, and given the project is in the first readiness phase, this is what would be expected.  
  • One-fifth of respondents have engaged with their clients, and APRA encouraged all RegTechs who currently support entities to do so.  
  • A small number of participants (13%) have commenced mobilisation and planning activities.   

3 Implementation Plan – key takeaways (Jane Coad) 

APRA highlighted the key changes brought about by the new solution. APRA encourages all interested parties to review the Implementation Plan for further information on these points. 

APRA noted the questions regarding changes relating to submissions via Microsoft Excel and APIs. As indicated in the Implementation Plan, APRA has determined that it is not feasible to accept Microsoft Excel files for existing D2A collections currently submitted in manual, XML or XBRL format.  

APRA recognises the role that RegTechs play in supporting entities to transition to more automated submission methods. APRA encourages the SVWG to engage with the relevant industry body to explore entity needs. APRA recognises that API submission is a key area of interest for RegTechs in particular, and reiterated that the availability of APIs is planned for go-live. More information will be communicated once available.    

4 Solution demonstration (Natalia Aziz) 

APRA provided a guided demonstration of the new solution, and demonstrated the following key processes:  

  • Logging in and navigating through the homepage 
  • Managing user roles 
  • Submissions and validations 
  • Viewing submission history 
  • Resubmissions 
  • Creating additional returns  

The solution demonstration can be found on the Communications and Past Updates page, within the Reporting Entities webinar recording.  

5 Questions (Daniel Hunt) 

The SVWG submitted questions throughout the webinar, primarily regarding the test environment and clarifying the submission process. Questions included: 

  • Access to the test environment: APRA reiterated that software vendors will have access to the test environment before go-live.  
  • myGovID: Users will require a myGovID to log in, and APRA will request Principal User contact details closer to the release of the test environment.  
  • Submission via file upload: The SVWG also asked questions to clarify the expected changes to submissions via file upload. APRA reiterated that data can be submitted via manual entry, or via XML or XBRL file upload.  
  • Validations & Accepted Values: the new solution will only accept APRA’s accepted values. Entities who have paraphrased the drop-down menu categories will find that their current XML or XBRL file will no longer be an accepted validation in the new solution. 

For further question and answers, please refer to the new Data Collection Solution’s Frequently Asked Questions

The SVWG provided feedback regarding the level of change they anticipate is required to their solution to support entities at go-live.  

  • Over one-third of participants indicated only a moderate level of change is required. 
  • Some participants (17%) indicated a low level of change. 
  • A very small number of respondents (6%) indicated a significant or high level of change at this point in time based on the information provided. 

6 Next steps and close (Daniel Hunt) 

APRA thanked attendees for their active participation. APRA encouraged the SVWG to familiarise themselves with the Implementation Plan for further information regarding the new solution.  

APRA encouraged the SVWG to provide feedback on the Implementation Plan and the new solution via the survey or by emailing the team at newdatacollectionsolution@apra.gov.au.   

APRA noted its intention to communicate additional information regarding the new solution, including the revised project timelines, by October 2019. 

The next SVWG session will be advised at a later stage.