Case Study: Insignia Financial achieves faster APRA reporting with SolveXia

Insignia Financial Group - Customer Case Study

Insignia Financial, a major Australian financial services provider, faced a significant challenge in manually preparing and submitting over 50 different regulatory returns to APRA. This highly manual process, reliant on copying data from Excel into the D2A portal, was time-consuming, prone to human error, and dependent on key staff. The anticipated introduction of APRA's new DCS system threatened to increase this compliance burden further. To address this, they turned to the vendor SolveXia for an automation solution.

SolveXia implemented its APRA Connect Reporting Solution to automate the end-to-end process. The solution automatically transforms Excel workpapers into pre-validated, APRA-ready XBRL documents for submission. This eliminated manual data entry and its associated risks. As a result, Insignia Financial now saves 20 days of effort each year, has mitigated key-person dependency and error risk, and was able to ensure compliance even during the COVID-19 lockdown. The SolveXia solution also future-proofed their process for the new DCS system.

Insignia Financial Group

Paul Tsironis

Head of Fund Statutory Reporting