Deployment of the eON SaaS at Blue Media

About the Blue Media

Blue Media has been operating since 1999 and is one of the largest technology and finance companies in Poland. It provides services for the financial, telecommunications and e-commerce sectors. The company was the first in Poland to introduce financial solutions that seem obvious today: online top-ups for mobile phones (2002), quick online bill payments (2011), the BlueCash interbank transfer system (2011), or automatic payments on motorways, using the Autopay application (2019). In 2022, approximately 600 million transactions were made via Blue Media products, and the company's revenue amounted to over PLN 1 billion. About 35,000 companies currently use Blue Media's services, and about 10 million customers use online payments every month.

Problem

In 2023 a new reporting obligation has appeared – Payment Statistics Base 2, whose author and supervisory body is the National Bank of Poland. The purpose of the database is to collect data that will allow the National Bank of Poland to conduct more complete periodic assessments of the functioning of the Polish payment system and to send to the European Central Bank (the ECB) the data required of EU Member States in the field of payment statistics. Due to the scope of reported data, the new regulation is certainly a major challenge for National Payment Institutions.

It was necessary to find a solution that would effectively convert the data and generate a correct report in the XBRL format. Data for the first quarter of 2023 should have been submitted by the end of April 2023. Due to such a limited time to prepare for reporting, the system must have a short implementation time that does not require additional investments in infrastructure.

One of the important elements of the implementation of BSP2 reporting is the preparation of reporting data and the method of its integration, which may be a challenge for an institution that has not prepared reports in the XBRL format so far.

Solutions

eON is a cloud-based solution enabling the preparation of mandatory reports. The application, which operates in the SaaS model, enables work via a browser, without the need to install it on the client's infrastructure.

Thanks to the constant updating of the BSP2 taxonomy in eON, at the time of delivery of the application to the client, it is fully ready for reporting.

The system gives the opportunity to prepare reports in effective way. The use of new technologies ensures high performance of the tool, even when working on large volumes. The report, which is prepared in the XBRL format, is ready to be sent to the National Bank of Poland.

The built-in XBRL validator with real-time validation functionality guarantees the correctness of reports in accordance with NBP requirements. The implementation department introduced the client to the basics of building XBRL reports. Thanks to which they can independently prepare data for the report in CSV format, which greatly facilitates the integration of various source systems.

FINGO has been positively evaluated as a supplier of the new mandatory reporting system. The assessment of the tool and supplier was carried out by Blue Media on the basis of data provided by the FINGO Compliance Department in the ISO AML GDPR 2022 outsourcing survey.

The security mechanisms are based on the following standards and norms: ISO 27001, ISO 22301, ISO 27017, ISO 27018 and CSA STAR.

Result

Thanks to the use of the eON application, Blue Media can effectively prepare the correct report in the XBRL format. The entire infrastructure is on the provider's side, so in order to start working, all that is needed is access to a browser.

FINGO provides comprehensive support both at the level of system operation and preparation of data for the report in a selected integration format, e.g. CSV. In addition, a friendly and intuitive interface allows new users to efficiently go through the process of creating a report, which definitely allows to focus on its more substantive aspects.

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