ifrs 9

Solutions

IFRS 9

A flexible solution for an efficient transition to this new standard

Year 2018 will be remarkable for European financial sector industry as a first reporting date to present financial statement according to International Financial Reporting Standard 9 “Financial instruments” (Replacement of IAS 39). This change brings many challenges to all members of financial market.

Time constrains created need for a tactical IFRS 9 solution: rapid to implement, agile for modifications and ongoing adjustments, and supporting controlled calculation process.

fLITE@ is the tactical IFRS9 solution, developed by Deloitte, incorporating experience of Deloitte IFRS 9 experts group and Finevare@ – the IFRS9/IAS39 Deloitte tool, being implemented on dozens of clients, and present on the market for over a decade. Expectations to a tactical solution that are fully represented in fLITE@ include : (1) flexibility of the calculation engine adjustable to your specificities; (2) easiness of implementation and short implementation timeline of 1 to 2 months until the moment of first calculation; (3) auditability of calculations

Implementation of a first calculation in fLITE@ requires less than 1 month, which allows meeting Jan 2018 deadline and gives time for a parallel run in 2018. fLITE@ can stay as the solution for smaller institutions, or be replaced by a tactical software in 1-2 years. Transition path to Finevare@ Enterprise version is supported as well.

fLITE@ key facilitators

  • fLITE@ supports basic IFRS 9 calculations: ECL (segmentation in 3 stages and multi-scenario approach for both collective and individual assessment), C&M (basic classification, SPPI questionnaire, automated bonds classification, Amortized Cost measurement, EIR), and multiple add-ons to facilitate implementation process (e.g. repayment schedule generator).
  • fLITE@ can swiftly absorb changing methodology and modelling results, as the configuration and models can be adapted promptly. If required, it may be used to support the modelling exercise, also.
  • fLITE@ includes configurable rules for data quality checks that help to identify errors and to work on imperfect data inputs, which may significantly speed up implementation process.
  • fLITE@ supports repeatable, auditable process of reporting, simulation, or ad-hoc calculations.
  • fLITE@ is embedding visualization capabilities for discussions with governance.

fLITE@ is a member of Finevare@ family – a comprehensive industry-strength software solution dedicated to support banks in their transition to IFRS 9. Throughout the last decade, the Finevare@ platform has developed a significant footprint in EMEA and serves over 80 entities in more than 40 countries. Deloitte owned Finevare@ software is present on the market for over a decade.

IFRS 9

Nos experts vous accompagnent dans l'adoption des standards IFRS 9

Notre expert

Hervé Phaure

Hervé Phaure

Associé Risk Advisory, Services Financiers

Hervé Phaure est Associé Risk Advisory, en charge des offres risque de crédit. Il dispose de 22 ans d’expérience, acquise au sein d’une équipe opérationnelle de contrôle des risques bancaires et dans ... En savoir plus