iBanknet.com Launched as First Service Using New FDIC XBRL Data
MARBLEHEAD, MA -- (BUSINESS WIRE) -- 09/12/2005 --
The Banking Industry spends a significant amount of time and money in order to meet their regulatory reporting burden. Today, HighRidge Technologies Incorporated is launching iBanknet.com, a service focused on returning value to Banks from their regulatory filings.
As part of the Federal Financial Institutions Examination Council (FFIEC) Call Report Modernization Project, the Federal Deposit Insurance Corporation (FDIC) has made the Quarterly Bank Call Report Data available in XBRL (eXtensible Business Reporting Language) format.
The FDIC, using a sophisticated XBRL taxonomy to describe each reporting item and their interrelationships, has liberated 30 million reporting facts a year from the limitations of classic delimited-text format.
Leveraging the power of XBRL, iBanknet.com is offering a subscription service to Banks. Each quarter, sourced from their Call Reports, subscribing Banks will receive a collection of fully branded reports for use on their web site or back office. All subscriptions are
anchored by a customizable, summary page that provides the viewers with a snapshot of the bank's growth drivers. The summary page features key reporting items in both tabular and chart formats, capital ratios, and quick access to the branded Balance Sheet(Schedule RC) and Income Statement(Schedule RI)
in HTML, Microsoft Excel, RTF, and Adobe Acrobat formats. The advanced subscription extends the offering to include all Call Report schedules (over 25 reports).
An iBanknet.com subscription will benefit Banks of all sizes. By providing fuller disclosure with their distinctive branding, Banks will both retain and attract new high-value personal and business clients. iBanknet.com subscription pricing is tiered by the bank's size and complexity,
enabling even small community banks to provide sophisticated financial disclosure on their website at an affordable price.
About HighRidge Technologies:
Located in Marblehead, Massachusetts, HighRidge Technologies Incorporated is a small, technically agile company, specializing in eXtensible Markup Language (XML) technologies. HighRidge Technologies Inc. can be reached at 781-990-1052, www.highridgetech.com
or www.ibanknet.com.
About XBRL:
XBRL (Extensible Business Reporting Language) is a royalty-free, open specification for software that uses XML data tags to describe financial information for public and private companies and other organizations. For further information visit www.xbrl.org.
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