SBR Banken expands
Congratulations to our colleagues at SBR Banken in the Netherlands, who this week routed the first digital real estate report through their gateway in XBRL format. Specialist real estate valuation firm MVGM point out that the new arrangements mean that: “With the introduction of digital exchange in real estate data, the time-consuming task of collecting, structuring, assessing and entering in models and reports a thing of the past.”
The real estate taxonomy works in conjunction with the Dutch SBR taxonomy or (“NT”) and allows banks and credit providers to automatically consume valuation data into their capital models and their credit portfolio systems, simplifying loan applications, reducing re-keying across organisational boundaries and improving the flow of information across the private sector.
This is a great model – financial institutions in countries that require financial statements for private companies to be prepared in XBRL (or Inline XBRL) should take note! More here.