Agilis undertakes the development of data validation language for the European Central Bank

Company News / 20.10.2017

Banks must generate a vast amount of data to comply with statistical and supervisory reporting requirements. These data have to be validated to comply with high quality standards. The European Central Bank has assigned to Agilis the elaboration of the grammar of VTL, i.e. the standard language used for defining data validation and data transformation rules for the exchange of statistical data. Moreover Agilis will develop a prototype VTL editor and parser. The VTL language defines mathematical expressions for expressing logical validation rules and transformations on data that can be parsed and executed by a data validation engine to ensure the quality of the statistical data exchanged between organisations. This project is part of BIRD – an initiative of the Statistics Committee of ESCB (the European System of Central Banks) intended to increase the efficiency of the Banks’ reporting systems and resulting in higher quality banking data.

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