Visma Connect to deliver taxonomy-based data collection solution for the Dutch Financial Markets Authority
Today, Visma Connect is proud to announce that it has won a public tender to deliver taxonomy-driven surveys for the Dutch Authority for the Financial Markets (Autoriteit Financiële Markten). Information is indispensable to carry out supervisory tasks. This information forms the basis of the Authority’s assessment and any subsequent intervention. The Authority uses various methods to collect information, including surveys that are carried out regularly or on a case-by-case basis.
Visma Connect will develop a taxonomy, which is a dictionary of the required data concepts and the relations between these concepts, using the XBRL standard. This taxonomy will be the foundation for the development of the surveys. Visma Connect will provide interfacing services (forms) for the Dutch Authority to request information from 8,000 financial institutions, banks and insurance companies. The XBRL taxonomy will make it easier to request standardised information and subsequently process it for analysis.
Visma Connect was chosen for its high quality and flexible platform. Our team was able to accommodate the Authority’s unique needs and has extensive experience in the field of Standard Business Reporting. “We are very happy we won this tender and look forward to cooperating with the AFM,” says Visma Connect’s Mark Knijnenburg, Senior Business Consultant.