Development of a common data dictionary for reporting in the banking and insurance sectors and supporting IT tools and Design and proof-of-concept of a common master data management framework in EU financial services

The subject of this call for tenders is the “Development of a common data dictionary for reporting in the banking and insurance sectors and supporting IT tools, and the Design and proof-of-concept of a common master data management framework in EU financial services”. This project aims to build a common data dictionary with its initial content in the banking sector and develop integrated processes and IT tools to maintain the dictionary that can be used in the banking and the insurance sector. This project also aims to develop a master data management framework.

This digital technology infrastructure will facilitate compliance with data reporting, improve data quality and reduce reporting burden for entities under ESAs’ supervision, which in turn will reduce the workload for the EU authorities, national authorities, and the reporting entities.