New Data Collection Solution overview
The current data collection system, Direct to APRA (D2A), is a bespoke system built in-house in 2001. More than 4,500 reporting entities use D2A to submit data to APRA. Data collected by APRA under the Financial Sector (Collection of Data) Act 2001 is used for prudential supervision, statistical publications and shared with partner agencies.
The new Data Collection Solution will enable APRA to collect more granular data into the future, which will hone and strengthen its data-enabled decision-making. The new solution will provide APRA and industry with a modern interface that will bring enhanced data submission capabilities.
The data and forms submitted into the new Data Collection Solution will not change on day one, and current reporting obligations and current reporting schedules will also not change.
Risk & Data Analytics
"The new Data Collection Solution will be a modern, efficient and flexible solution which will serve APRA and industry for years to come.
The release of the Implementation Plan is an important milestone to assist industry with the transition to the new solution."
An easy-to-use system to collect high-quality data that is adaptable to future business needs.
What are the benefits?
The new solution will provide a number of key benefits to users, including:
Easier to use – The new Data Collection Solution will have a modern, intuitive user interface and will enable greater options for data uploads.
|Less ongoing maintenance required – The new Data Collection Solution will be web-based and will not require additional software to be installed on a user’s machine, simplifying system maintenance.|
|Adaptable to future needs – The solution will adapt as reporting requirements, data analytics and technology evolve, and will provide greater flexibility for automation of data submission.|
Engaging with stakeholders
APRA is committed to providing entities with early, transparent and useful information throughout the transition to the new Data Collection Solution.
In 2018, APRA consulted with stakeholders on the key requirements to replace D2A. APRA has incorporated a significant amount of the feedback into the implementation approach and solution design.