CRMT partners with CoreFiling to provide solution for ESMA’s European Single Electronic Format (ESEF)

by CRMT | Jul 01, 2020 | News

CRMT d.o.o. one of the leading consulting companies for system integration in the Central Eastern Europe region partners with Corefiling to provide a solution for ESMA'S new ESEF standard. This adds another Regulatory Reporting solution to their portfolio which already includes: Financial Reporting, Supervisory Reporting, IFRS 16, and IFRS 17.

CoreFiling Ltd. is a leading global provider of regulatory and business reporting software to insurance companies, banks, enterprises and regulators. CoreFiling helps their customers to meet the challenges of regulatory and business reporting, data modeling and unlocking the value of regulatory data. CoreFiling software has been used to create more than 125,000 iXBRL filings to date and used to process a further 50 million iXBRL filings for government agencies.

This partnership is addressing the HTML based annual reports with iXBRL (inline XBRL) that all European public companies will have to prepare for the 2020 annual financial statement filings in 2021 to meet the European Single Electronic Format (ESEF) requirement mandated by European Securities and Markets Authority (ESMA). CoreFiling's solution Seahorse takes your existing report from Word, Excel or InDesign and creates fully tagged inline XBRL filings. Its automated tagging and AI-assisted tag selection uses machine-learning to take into account thousands of previous tagging selections. This makes Seahorse the financial world’s fastest and most accurate tagging system.

Daniel Potočnik, partner: ''as part of our continuous growth strategy in CRMT we strive to provide the best-of-breed solutions for our clients, so partnering with Corefilling is an excellent step forward for us as they provide solutions for regulatory compliance which is one of our main areas of expertise.''

Philip Allen, Executive Chairman of CoreFiling: “We are very happy to partner with CRMT to help more European issuers to produce high-quality ESEF reports as easily as possible. We see this as a strategic partnership and look forward to working with CRMT on further regulatory and compliance projects in the region.”

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