Invoke is proud to announce today that its engine, xBRL Suite – xBRL Validator, has passed the XBRL International consortium’s newest highly stringent tests and achieved the coveted status of XBRL Certified Software®.
One of the first three engines ever to go into production on the worldwide market, xBRL Validator has been part of the collection, validation, and analysis systems of several national and European supervisory authorities for nearly ten years. It has also been embedded into our solutions dedicated to regulated entities since 2009.
As Antoine Bourdais, Director of Invoke's Regulatory Business Unit, explains, achieving XBRL International certification comes at a critical juncture in the development of regulatory reporting in Europe, both in terms of regulations and the development of the standard itself.
We are proud of this certification, which gives us the opportunity to make official our latest innovations, in particular the management of OIM (Open Information Model) formats, and more specifically xBRL-CSV, a development that will be key in the next stages of bank reporting on a European scale, he explains.
The latest version of Invoke's certified XBRL engine extends the capabilities of its regulatory reporting (RegTech) and supervision (SupTech) applications.
Invoke’s solutions are now equipped to face the upcoming challenges of the regulatory ecosystem :
- for the banking sector
By ensuring EBA data collection in xBRL-CSV format starting with the parallel run announced by the authorities in 2025 - for the insurance sector
By integrating new special features of the standard, such as “extensible enumerations 2.0”, which could be required within two years as part of the Solvency II v2.10 taxonomy - for the supervisory authorities
by enabling them to process all the regulatory reporting collected from banks, insurance companies, and publicly-traded companies in Europe.
Thanks to our collaboration with several national and European supervisory authorities, over the past ten years and more, every regulated entity in the European banking sector has had its regulatory reporting validated by the Invoke XBRL engine at some point in its lifecycle. That’s why it has to remain at the cutting edge of technology, concludes Clément Duhamel, SupTech Customer Success Manager.
Visit the XBRL International certification website for full details of the certification
