The AnaCredit Analysis Validation Feedback Support Tool (ACUT) for the Deutsche Bundesbank

Since the beginning of 2018, the AnaCredit reporting requirements of 14.07.2016 have required financial institutions to evaluate the Deutsche Bundesbank's specific technical and validation feedback for master and credit data. These files are not self-explanatory and cannot be read without proper documentation.
Many institutions are currently faced with the challenge of finding an efficient and target-oriented analysis option for these XML feedbacks within the tight cycle of the monthly reporting process in order to be able to focus on the actual solution and processing of the errors.

The SKS-Tool ACUT enables the institutes to do just that, ensuring institutions meet bank su-pervisors’ data quality requirements. 

 

How does ACUT work?

View and read XML files

ACUT is conceived as an Excel add-in, making it not just user-friendly but ensuring the popular features of Excel are available for users as well. The Bundesbank's XML feedback files are loaded into Excel with a single click. ACUT couples outstanding loading speeds with stable runtimes.

 

Obtain a detailed view of functional and technical validation errors

With the next click, detailed views are created for both the functional and the technical val-idation errors, displaying the information contained in the feedback files. These are en-riched by more specific information from the official documents of the Bundesbank and the submitted report. This provides a comprehensive picture of the individual validation codes and error messages for the master data and credit data in the form of 

  • error descriptions,
  • validation type,
  • CP_ID,
  • TYP_CP_ID,
  • description of the TYP_CP_ID,
  • contract number,
  • instrument number and
  • security.

 

Establish documentation and knowledge repository

ACUT users also have the option of documenting the steps required to process a validation error directly on the error. The corresponding fields are individually tailored to meet each insti-tution's needs, enabling us to meet your specific data requirements within the documentation. You can store a broad variety of contents such as:

  • instructions for further processing,
  • responsible contacts,
  • prioritization,
  • status and/or
  • additional comments.

All activities can thus be mapped to the processes and systems of your particular institution. All entries are saved as of the first message and are added automatically in subsequent months should a known error reoccur. ACUT not only provides revision-proof documentation: your institution also develops a knowledge repository that can be used by all employees in the process.

 

View the frequency of individually occurring errors

Obtain a comprehensive overview of your institution’s error pattern with ACUT. It also provides an overview of the absolute frequency of occurrence of each individual validation error. It also shows how the total sum of all occurring errors is distributed across all error types. This repre-sentation is the starting point for creating meaningful timelines.

 

Establish timelines

The data stored in ACUT can be displayed over time. This allows users to track the develop-ment of errors that have occurred over a longer period of time across all stored deadlines. This data is an excellent base for checking the effectiveness of error tracking. New errors in par-ticular are highlighted for easy recognition. 
With a single click, the development of errors can be displayed both numerically and graphical-ly and deadlines can be compared.

 

The benefits of ACUT

ACUT helps institutions gain valuable insights into their particular error pattern in virtually no time. ACUT converts the seemingly cryptic XML feedback files into a readable format and pro-cesses large amounts of data quickly and efficiently, saving you both time and money. The processing and analysis of the imported data by ACUT is an excellent way to quickly and relia-bly identify new and possibly serious errors in your institution’s AnaCredit reporting.

In addition, ACUT allows users to define and store instructions for future action and assign responsibilities, as well as to apply these automatically to future feedback, making revision-proof documentation possible directly in one tool. 

Using ACUT not only frees up personnel resources for other key purposes within the reporting system, it also decisively improves data quality through rapid error analysis and trouble-shooting, thus substantially improving the correctness and completeness of future reports.

In short, ACUT delivers decisive added value to institutions while enabling them to meet and maintain the supervisory authority’s data quality requirements.