EU Refit 29th April 2024 & UK Refit 30th September 2024 – firms should be well advanced with their UAT testing.

 

The magnitude of changes under the Refit are substantial, primarily driven by the number of new inter-related fields required and the associated data mapping/consumption exercises required. This has led to complicated implementations and many firms are currently unsure as to the accuracy of their reporting.

 

Many firms have struggled with testing environments, including the reliability of vendor solutions, understanding the drivers of errors and the effectiveness of their changes to the files they submit. Therefore, the question we are most frequently asked, particularly given impending deadlines, is:

 

“What options do I have available to me outside of in house / trade repository testing environments?”

 

The answer to this is simple:

 

-The award-winning Novatus En:ACT platform has been designed to facilitate UAT testing under any regime.

 

-Clients can upload files as frequently as they wish to obtain real time feedback on their submissions.

 

-En:ACT’s UAT Testing solution enables firms to precisely identify the error on a transaction and field basis, with clear linkage to the underlying regulation to understand why the error is occurring. This means you can focus on fixing issues.

 

-The En:ACT platform’s Compliance Rules Engine runs thousands of tests across 100% of trades and 100% of fields, covering all G20 reporting regimes. This is maintained by our in-house team of specialists to ensure they are up to date at all times.

AWS hosted to ensure rapid implementation, with all data hosted in your local region.

 

Please get in touch to learn more about the En:ACT platform and arrange your free health check.