DataArt Updates Front-End App for Automated AIFMD Filing

DataArt's updated applications now allow clients to view and validate XML reports from other vendors' AIFMD compatible products or in-house reporting systems. The front-end app will also allow using Excel-based templates to manually generate XML reports in accordance with ESMA reporting requirements.

"The main challenge of AIFMD as a regulation is its comprehensiveness, especially given that many of the affected fund managers have never seen regulations on this scale before," says Alexey Utkin, financial services practice leader at DataArt UK. "With AIFMD touching on all aspects of risk—market, credit, counterparty, liquidity and operational, including stress tests—many firms do not have the risk controls in place at the level required by these regulations, and the challenge for them is to embrace and implement appropriate risk controls and reporting on a tight timeline. Our front-end application has therefore been further developed in order to help streamline that process, saving clients both time and money."

The application, which is free of cost, operates on top of the firm's existing Form PF and AIFMD reporting tools, and integrates the unified data model from both solutions as well as any custom data firms wish to introduce.