Finevare

Solutions

Finevare

From IFRS Compliance to Credit Risk Analytics

Finevare is a platform for risk assets IFRS 9 compliance in financial institutions developed by Deloitte Central Europe and backed by Deloitte worldwide.

Throughout the last decade the Finevare platform has developed a significant footprint in EMEA and has recently gained a global reach thanks to IFRS 9 engagements. As of today several international FSI Groups entrusted their IFRS compliance to our IFRS software platform, and hence Finevare serves over 100 entities in more than 45 countries. Experience built on multiple implementation projects dealing with financial instruments accounting under IFRS is embedded in the software and makes it robust, flexible and transparent for the end users. Finevare is designed to be part of enterprise. IT operational architecture that could fit both large scale financial transformation projects as well as focused IFRS 9 implementations.

We are Finevare

Part of Deloitte
We are the experts in IFRS9 compliance. Everything we do is backed by the Deloitte experts and always up-to-date proven methodology.

Robust software
We take Client’s trust seriously, providing easy to integrate software that just works, with an up-to-date look and feel and the modern standards in usability.

A packaged project
With ready-made documentation, templates, project plans, testing materials, Finevare does not reinvent the wheel. From advisory, through implementation, testing, support and maintenance, we have everything planned and offer it to you as part of the process, together with our Deloitte experts.

Predefined reporting
IFRS 9 and IFRS 7 disclosures and operational reports available from the get-go. Ready visualization dashboards enhance operational efficiency. Direct export of all relevant data to external data store enables BI tools integration.

Adding data
A flexible data model: start with a minimal set of fields and simple integration means such as CSV exports – then set more facultative fields which are mandated by chosen methodology and integrate as you progress through the project.

Enhancing configuration
Starting from model functionality set-up, more sophisticated options are gradually added.

Open to You
Traceability of data and calculations from individual input to reporting, allowing inspection of all data at contract level.

Your bulletproof solution to IFRS 9 compliance

Finevare Enterprise is robust, practical and reliable solution of enterprise scale. For the past 12 years since the software creation, it has been successfully implemented in many jurisdictions and a variety of financial groups, which verified its flexibility, high scalability, integration capabilities and security. The Finevare platform is constantly upgraded with most recent practical market experience, based on the standardized product release cycle. It is stable but easily configurable with no "black-box" or hard-coded parameters, which allows flexible changes in configuration of IFRS 9 models and approaches.

Finevare Enterprise has a comprehensive coverage and can meet client’s needs in the areas of:

  • Classification including SPPI test 
  • Measurement under amortized cost, revenue correction due to impairment
  • Hosting of risk models
  • Impairment calculations and provisioning
  • Business workflow support
  • Regulatory reporting, including related IFRS 7 disclosures

Ready-to implement IFRS 9 solution

  • Meets requirements for provisioning the system to conform with the IFRS 9 standard: 3 stages of impairment calculations, simulations, risk parameters, interest revenue correction, EIR and amortized cost calculations, relevant IFRS 7 disclosures, out-of-the-box charts and reports
  • Pre-configured “Model Bank” with best-practice setup provides a starting point for the customization and lowers deployment time

Comprehensive solution

  • Comprehensive, operationally proven solution, covering IFRS 9 calculations, simulations, automation, and process support for enterprises
  • N-tier software architecture, functions as a front-end enabled data mart
  • Integrates naturally into a data warehouse, General Ledger, and BI tools

User-friendly interface

  • Finevare is a user-friendly system with a modern and intuitive graphical interface, operated via a web-browser
  • Interactive charts for reports visualization, reporting wizard for ad-hoc pivot tables creation
  • Simple and easy to use configuration and administration of data sets, running reports, simulations, etc.

Backed by more than 10-year experience

  • Finevare is a user-friendly system with a modern and intuitive graphical interface, operated via a web-browser
  • Interactive charts for reports visualization, reporting wizard for ad-hoc pivot tables creation
  • Simple and easy to use configuration and administration of data sets, running reports, simulations, etc.

Rapid IFRS 9 calculation engine

fLITE is the solution developed by Finevare Quant Team for the purpose of modelling of IFRS 9 Expected Credit Losses. The solution is implemented in a novel analytical framework developed by Deloitte team called Finevare Analytic Toolkit (FAT). It allows for efficient development of new models (in project mode), including build of statistical models based on specific requirements of our clients. Our software leverages on experience built on multiple implementation projects dealing with financial instruments accounting under IAS39 and IFRS 9.

The fLITE platform provides IFRS 9 regulatory compliance, supporting the following functions:

Classification and measurement (C&M)

  • Classification based on SPPI test and input Business model
  • Initial valuation and subsequent measurement of financial assets
  • Effective interest rate calculation
  • Amortisation of fees and costs

Impairment (IMP)

  • Segmentation and stage classification on contract level
  • Impairment collective and individual calculations
  • Correction of interest revenue for impaired/POCI portfolio
  • STA engine calculating risk parameters based on historical data
  • Simulations of impairment under various conditions

General functions (Core)

  • Data load and validation
  • Configuration file load and export
  • Graphical User Interface for operation, administration and configuration
  • Correction of interest revenue for impaired/POCI portfolio
  • Tabular and graphical reporting
  • Generation of repayment cash flows

Development (Custom)

  • Modelling approaches other than covered by IMP Module

fLite

Get in touch

Please feel free to contact us in case of any questions about Finevare or if you would like to schedule a demo.

finevare@deloittece.com

Romuald Paprzycki

Romuald Paprzycki

Partner

Romuald Paprzycki is a Partner, Head of Global Clients Operations in Finevare team, Deloitte Advisory, Poland, Warsaw. He is an experienced professional in delivery and development of risk management ... More