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To comply with IFRS 9 reporting and automate the Financial Reporting, thus increasing the efficiency and productivity across banks.
Pain Points
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1
IFRS 9, a new guideline, a lot of uncertainty on the models and approaches to be used for computations and data required for the same.
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2
Computation of complicated statistical computations such as PD and LGD and availability and storage of Historical Complexity involved in the preparation of IFRS 7 Risk-based Disclosures.
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3
Issues related to the quality of data available to be used for computations.
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4
Reconciliation of GL balances with transaction balances and generation of financial statements basis IFRS standards.
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5
Concurrence of auditors concerning computations.
Solution Given
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1
Kalypto/ECL and FRA – Classification and measurement, Individual Impairment module, Collective impairment module, ECL recognition (PD, LGD & macro-economic factors, EAD), Cash flow generation module, SICR checklist, Generation of GAAP & IFRS financial statements, Automated accounting engine, Disclosure reports.
Solution Highlights
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1
System facilitates historical data storage fully sanitized for automated PD & LGD computation using a trigger-based approach.
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2
GL Recon engine which reconciles transactional with GL at the click of a button.
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3
Fully configurable Reporting Engine which can be configured from the front-end by business users thus generating Risk-Based reports with drill-down feature till transaction level.
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4
A common database akin to a data warehouse was created. Data from all the required systems were collated in this database.
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5
Sophisticated models were built in the system to enable the bank to comply with regulatory reporting on a timely basis.
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6
Efficient user audit trail, controls, workflow, authorization and hierarchy approvals mapped as per bank’s policies thus facilitating the bank to obtain auditor concurrence seamlessly.
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Case Studies
Banking
Corporate
Infrastructure
