Interoperability
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1. Information technology (IT).
Interoperability is the ability of computer systems or software from different vendors to exchange and make use of information between each other.
- No single platform can address all treasury needs
- "This shift from the ‘all-in-one’ vs ‘best-of-breed’ conversation to one emphasising connectivity and interoperability stems from the recognition that no single platform can address all the needs of a modern treasury function."
- Moving beyond one-size-fits all treasury platforms - Jackie Bowie, Chatham Financial - ACT Web exclusive, 12 July 2024.
- Positioned to scale
- "... our focus on industry collaboration and open networks uniquely positions Voltron to scale by leveraging [our] Corda Network to ensure interoperability with other global trade initiatives and other networks - including supply chain, cash, insurance and identity."
- The Treasurer magazine, December 2018 / January 2019, p7, David E Rutter, CEO, R3.
2. Reporting - standards - compliance.
By extension from the definition for IT above, alignment of the requirements of different regulatory standards, to reduce compliance burdens on reporting entities.
- Guidance to ensure interoperability
- "The International Sustainability Standards Board (ISSB) and the European Commission services, together with EFRAG, have worked together during the development of the European Sustainability Reporting Standards (ESRS) and the IFRS Sustainability Disclosure Standards (ISSB Standards) to achieve a high degree of alignment of the respective standards, with a specific focus on climate‑related reporting...
- This joint interoperability guidance describes the alignment of disclosure requirements and information that an entity starting with each set of standards needs to know to enable compliance with both sets of standards, ensuring interoperability between them.
- Regardless of whether it starts with ESRS or ISSB Standards, an entity can comply with the climate requirements of both sets of standards by following the content of this interoperability guidance."
- ESRS-ISSB Standards - Interoperability Guidance - 2024.
See also
- Agnostic
- Bank agnostic services
- Data
- Disclosure
- Entity
- European Financial Reporting Advisory Group (EFRAG)
- European Sustainability Reporting Standards (ESRS)
- Fintech
- Guidance
- International Financial Reporting Standards Foundation (IFRS Foundation)
- IFRS Sustainability Disclosure Standards (ISSB Standards)
- Industry agnostic
- Information technology
- Insurance
- MIS
- Network
- Platform
- Regtech
- Reporting entity
- Standard
- Supply chain
- Sustainability
- Telematics
- Treasury
- White-label
