Jersey-based software development company XRM has launched a new platform that enables service providers to comply with the new JFSC filing requirements.

XRM has experience developing software solutions that integrate with the JFSC API since 2017 and this latest addition to their software portfolio will enable businesses to ensure they meet the new requirements around reporting of significant persons, and annual confirmation statements.

Simon Jackson, Director at XRM explains how the system works: “The key to delivering these filings on time is consistency. All service providers have data that needs updating, and some of our clients have data in multiple systems. We start by identifying inconsistencies across all of their existing data and manage processes across the business to correct it. Filings are then automatically prepared and, once approved, the data is transformed into the correct format and submitted to the JFSC via their new API.”

With the April deadline for completing filings fast approaching, the software enables management teams to get a 360-degree view of all filing requirements across the business enabling them to manage resources effectively and respond proactively to any issues.

The team at XRM aren’t just developers – they are business process consultants – which means they understand the importance of deeply understanding business systems and user requirements prior to building new tools.

That’s why the platform has been developed with input from service providers across the finance industry and a huge amount of effort has been put into building a tool that’s fast to implement and easy to use.

Simon explains: “We have data validation tools ready to go, and we’re now just waiting for the release of the JFSC’s Registry v2 API for system testing before our final release. We’ve taken care to design in flexibility to handle the requirements of different businesses, and offer a modern user experience that will make the process of meeting the new requirements easier for the whole team.”

Theoretically, businesses could just “throw people at the problem” but this is, at best, a short-term approach.

Simon added: “What happens next year? What happens when a director or beneficial owner changes? By using a dedicated regulatory reporting tool that integrates with your existing line of business systems you can continually compare data in your systems, with what you’ve filed with the JFSC – automatically flagging any inconsistencies and triggering workflows to make updates when required.”

For more information about XRM’s new regulatory reporting tool visit: https://www.xrm.jeservices/products/jfsc/

Simon Jackson

Simon Jackson

Leave a Reply

Your email address will not be published. Required fields are marked *

Similar Stories


Welcome to the Team: Fernando Perrone

We’d had the pleasure of welcoming not one, but two new Business Solutions Consultants to our team this month! We recently introduced you to Isaac Hart, and now we’d like... Read More


Welcome to the Team: Isaac Hart

We’ve welcomed not one, but two new members of staff to the XRM team this month! Both of our new starters have joined us as Business Solutions Consultants, and we’re... Read More


XRM team completes TOGAF 9.2 certification

We’re firm believers in the fact successful IT projects are about more than just technology. They’re about having the best team in place to deliver industry-leading solutions that continuously push... Read More