RSend: Secure solution for sending reports to the CSSF eDesk portal via S3 API
U IT
All the reports, procedures or surveys sent to the CSSF through SOFiE and e-file will be gradually migrated to eDesk until 2026. The current solutions used for the BCL reporting remains unchanged.
The objectives of U IT, by the mean of RSend and helped by our expertise, are :
To allow our customers to perform this transition as smoothly as possible;
To gradually merge the increasing RSend/eDesk flux with the decreasing SOFiE or e-file flux;
To unify the eDesk flux to the SOFiE or e-file ones on a single platform;
To render transparent to users the means used to file the reports to both regulators;
To avoid contractual complexities with sending rights & packages based on type or families of reports by adopting a simple method based on a yearly volume;
To grant our customers sufficient flexibility in the management of the application in order to ensure the business continuity of the filings.
Migration to eDesk - 2023 to 2026
With thousands of reports to file per year, the major financial actors in Luxembourg, specifically the Banks, automated their legal reporting processes : SOFiE and e-file are configured in BATCH mode, reports and feedbacks are automatically treated.
The current reports sent to both regulators through SOFiE or e-file will have to be split. The BCL reports will continue to be sent through the current secure channels and the CSSF ones will require to be sent through an S3-compatible application, or manually uploaded to eDesk.
Despite the fact that all reports will be manually uploadable to eDesk, automating this task, as it was done for SOFiE and e-file, will rapidly become a priority.
The biggest challenge for IT departments will be to render this transition as smooth as possible while keeping up with the pace set by the CSSF.
The migration is planned to terminate end of 2025. Starting 2026, all reports, procedures & surveys to be addressed to the CSSF will be done through eDesk
About S3 transfers
The particularity of S3 is that the files transiting through this protocol are not anymore encrypted, the protocol endorse this role. This difference brings two changes that are important to consider for companies who hesitate to entrust the eDesk filing operations: responsibility and confidentiality.
Responsibility
The external secure channels (SOFiE & e-file) do not endorse the role or responsibility of the sender (or technical remitter) of one report, this role, and the responsibilities that goes with, is endorsed by the owner of the (SOFiE or e-file) license. This situation was possible because the reports were only decryptable by the regulators. Now that the reports sent through S3 will be readable by the company which performs the sending operation, legal problems may arise if one company entrusts its filings to an external provider.
Confidentiality
Question is: do your internal policies allow an external provider to have access to the content of the reports sent to eDesk ?
Transferring reports using a locally hosted solution fully managed and operated internally is the best choice in regard to the legal and confidentiality aspects
Choosing RSend
U IT developped the RSend solution as a response to this major change operated by the CSSF.
Our core expertise is to setup automated environments which handle the Legal Reporting filings. Since 2010, U IT worked with 45 banks, reached 500+ customers and performed the installation of more than 50 specialized servers. Since 2014, we created the LRPC Platform, a dedicated solution to centralize all the compliance filings.
The decision to develop our own S3-compatible solution and continue to support our customers came naturally to us. We also believe that many companies will be interested to know about RSend.
RSend is developped in Luxembourg for the Luxembourg market, dedicated to eDesk, focussed on automation and supported by a company having acquired a strong expertise as a reputation of excellence
Good to know : we offer, for large institutions during 2024 and 2025, a free (and long) trial license of RSend BATCH. Check our page "Try RSend BATCH" for more information.