VistaOne Solutions, a UK financial data management, reporting and distribution service firm has launched vSolvencyII, a data governance platform to comply with Solvency II regulations.

According to the solution provider, the offering will cater end-to-end governance for Europe and UK underwriting firms and their asset management to comply with Solvency II regulations.

VistaOne Solutions global head of product Brian Lott said with the 2013 deadline quickly approaching, understanding how technology is used to help insurers and asset managers get in front of the Solvency II issue is the first step towards regulatory compliance.

"Our leading edge software and service capabilities have shown that a robust end-to-end data management solution helps insurers and their asset managers move more quickly towards compliance," Lott added.

The new platform has been designed to offer rule-based workflow to automate the preparation of data, exception management, audit controls and fulfillment of Quantitative Reporting Templates (QRTs) to produce Regular Supervisory Report (RSR) and Solvency and Financial Condition Report (SFCR), claims VistaOne.

"We are constantly striving to provide solutions to reduce the time to market and ease of implementation when addressing the challenges of new regulation," Lott commented.

VistaOne caters financial data creation, management and distribution services and solutions, used in the front, middle and back office by asset managers, hedge funds, wealth managers, prime brokers, fund administrators and investment banks.