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In Nostro balancing and valuation is performed using two different accounting methods. On the one hand, the national statutory accounting requirements and accounting rules, on the other hand, the International Financial Reporting Standards (IFRS) are considered. Furthermore, general ledger postings (to IFRS transition difference accounts) resulting from the transition from primary to parallel accounting are automatically provided and posted.
The following features are covered according to IFRS:
In addition to multi-client institution capability, multi-language capability and multi-currency capability, Nostro provides the option of flexible parameterisation and guarantees a consistent data history. Servicing is carried out centrally and it is possible to represent country-specific particulars.
Further features of Nostro are standardised interface connections and handling of mass data due to a high level of automation. Data prepared in Nostro can be provided to downstream systems. For this purpose, data evaluated via dialog can be used or data is provided in the Nostro Financial Data Warehouse. From the Nostro Financial Data Warehouse, data for evaluations and reporting solutions (treasury reporting) and data for revenue and risk management can be used and earning forecasts can be created.
Nostro is constantly further developed in order to meet future regulatory requirements.
11th Financial Centre Meeting of WM Datenservice We are looking forward to participating as exhibitor in the 11th Financial Centre Meeting of WM Datenservice in Frankfurt am Main on 7-8 March 2018. The ";Financial Centre Meeting" offers every year a meeting opportunity for employees of banks and bank-related companies (e.g. from the IT industry) and facilitates exchange with experts from economy and politics. In addition, visitors can get state-of- the-art information on new products and services relating to the financial industry. On 8 March, Dr. Wolfgang Göb (Head of Business Development, SDS) will give a talk about "New technologies in the securities business: how standard software enables digitisation".Eventinfo