Streamline corporate authorisations while maintaining accurate master data

Vizor Licensing & Regulatory Transactions

Vizor Licensing and Regulatory Transactions allows regulated institutions to submit license requests and corporate authorisations online. Financial regulators can then assess the requests according to defined workflows which track SLA adherence. Once approved, any affected master profile data is automatically updated. Master data can be analysed with ease or distributed to downstream systems.

The Problem

As regulatory requirements become more onerous and granular, maintaining an up to date and accurate master data profile of each market participant has become extremely challenging. Disparate and disjointed systems make it difficult for regulators to collect and assess master data changes in a straightforward manner, which jeopardises the financial regulator’s ability to meet SLA commitments with the industry.

The Solution

A system which enables quick and straightforward reporting and assessment of master data changes, which when approved automatically update the centralised master data of a regulated institution. The solution also supports the evolution of the master data profile structure over time as new data requirements are added in line with new regulations.

Key Features

  • Enterprise Master Data Management Best-in-class processes built on an enterprise MDM system to manage licensing and master data updates.
  • Pre-built authorisation portal A pre-built portal with out-of-the-box forms and templates that support a structured authorisation process with regulated institutions.
  • Self-Maintaining corporate data Self-maintaining data with all updates from regulated entities updating the central corporate data profile.
  • Automated workflows for authorisations Automated and streamlined workflows that reduce administration overhead on staff and ensure corporate data change requests are assessed within SLA timeframes.
  • Secure and easy access to data Ease of access to data and ease of distribution to downstream systems such as a public registry, enabling end-to-end transparency.

Product Highlights

Corporate Profile: Master Data Management

  • View a complete Corporate Profile for each Regulated Entity, as well as their relationships with other parties and historical Corporate Profile changes 
  • Read/import Corporate Profile data from 3rd party MDM system if required 
  • Allow Regulated Entities to view their Corporate Profile 
  • Allow Regulated Entities to certify annually the information in their Corporate Profile, removing the need for annual returns that duplicate information  
  • Fully searchable repository of master data 
  • Includes pre-built reports such as register of licensed entities, directors, products, shareholders and the capability to add others. 
  • Changes to the Corporate Profile over time are logged and distributed for use in downstream systems or a public registry. 

Submission & Approval of Regulatory Transactions

  • Collect & validate Regulatory Transactions from market participants. Examples of Regulatory Transactions include:  
    • Request for Approval of Key Individual  
    • Request for Approval of New Product 
    • Request for Change on already registered Company, Product, Individual 
    • Request for Approval of Change in Significant Ownership
    • Request for Approval of Major Acquisition 
    • Notification of Change in External Advisor  
  • Assess fitness & probity of key individuals 
  • Assess Regulatory Transactions and request further/amended information if required 
  • Control approval processes with powerful workflow tools 
  • Automatically update the Corporate Profile with new and changed corporate information on approval of Regulatory Transactions 

Licensing of new market participants

  • Register new market participants through intuitive on-line Portal 
  • Collect & validate license application forms and process payments from new market participants 
  • Assess license applications, including: 
    • Corporate structure & governance 
    • Proposed activities 
    • Risk management and controls 
    • Pro forma financial statements and projections 
  • Assess key individuals for fitness and probity  
  • Request further/amended application information from new market participant if assessment criteria are not met, or other issues are identified 
  • Manage and control complex, cross-departmental license approval processes  
  • On license approval, automatically generate the approved Regulated Entity Corporate Profile from the application form information