Back Reporting of
Transactions
Ensuring Accuracy, Compliance, and Timeliness with En:ACT
At Novatus Global, we understand the critical importance of accurate and timely transaction reporting in the financial industry.
Our unique SaaS platform, En:ACT, both identifies the precise errors in transactions and facilitates the back reporting of these transactions in the correct format.
The En:ACT platform enables clients to generate the back reporting file and test this using the Compliance Rules Engine prior to submission to the end point. This ensures firms can back report with 100% confidence.
What is Back Reporting?
Back reporting is the process of retrospectively correcting and reporting financial transactions that were initially delayed or erroneous. This is essential for maintaining regulatory compliance, data integrity, and operational efficiency. Whether due to system outages, processing delays, or data entry errors, our platform ensures that any discrepancies are swiftly identified and corrected.
Our Back Reporting Solutions:
En:ACT provides precision into the specific fields within transactions that contain errors, covering all global reporting regimes.
En:ACT enables firms to generate the back reporting file directly from the platform.
The back reporting file generated from En:ACT is then run through the Compliance Rules Engine to ensure the transactions are accurate and complete prior to submission to the end point.
En:ACT maintains a comprehensive audit trail of all changes and corrections made through the back reporting process. This ensures that your records are always up-to-date and ready for any regulatory inspections or internal audits.
