Main news of the S77 release
Main news of the S77 release
Sofia S77 was released to all customers of SimCorp Italiana. It contains the following new functionalities.
COMPLIANCE
Monitoraggio Investimenti IVASS
In its letter to the market dated February 20, 2024, IVASS announced the change in the method of transmission of data for the Infostat collection of information on investment monitoring and life premium collection.
In Sofia a new module is available, that allows to produce the complete file with the characteristics required by IVASS in XML format. The module allows exogenous data on premiums and land and buildings to be entered for the purpose of producing the complete file.
The data of each report made are saved in an archive that can be retrieved and consulted at any time.
For Clients who have the “Web Services” module configured, it is also possible to send the report directly to Infostat.
For further information: sofia.info@simcorp.com
SUSTAINABILITY
IVASS ESG Monitoring
Sofia's “ESG Monitoring IVASS” module has been enhanced as a result of the changes introduced by IVASS with the July 2024 update of the Letter to the Market dated July 27, 2022, on “Monitoring of Disaster Risk and Sustainability.”
This update involved a radical restructuring of the layout of the required data, and the quantitative schemes referring to “CUBE ESG_1” were completely revised. In particular, the structure of rows has been updated, which now includes a different breakdown of NACE codes; the set of columns and the structure of subtotals and totals have also been revised.
In addition, a new output has been introduced, the “CUBE ESG_KPI_INV”, which must be in quadrature with both the values reported in “CUBE ESG_1” and the KPI of investments of insurance companies defined by the EU Taxonomy in Annex X of EC Reg. Del. 2021/2178.
New fields for PAI 1.16
Following the release of version V1.1.2 of EET, Sofia's Positions environment has been updated with new fields. These fields will also be visible in the Sustainability Solution modules, “Product Reporting: Export EET and Pre-contractual and Periodic,” “IVASS ESG Monitoring,” “PAI Calculation,” and “KPI Calculation.”
For further information: sofia.ESG@simcorp.com
PROCESS AUTOMATION
Accounting processes
Developments are progressing on the tools for governing the accounting closing process, which together with the “Real-Time G/L” module will constitute the suite of modules for accelerating and securing end-of-period accounting processes.
For further information: sofia.info@simcorp.com
Matching Modules
The “CACS Matching” module has been enriched with new features, allowing the reconciliation of a new reimbursement reason (PCAL) and dedicated user profiling.
With regards to the reading of Swift messages, a new development allows the import of “Swift-like” .txt format files without Sofia being connected via dedicated services to the Swift Alliance network, thus simplifying the technical prerequisites for installing the module. This new data feed mode for reconciliation is supported for the Cash, Securities and CACS Matching modules.
For further information: sofia.matching@simcorp.com
