From IBS Intelligence: Kalaxis, a consulting company specializing in helping financial institutions reduce their…
Gurantee Future Flexibility
Challenges of IFRS9 go beyond a change of accounting principles and require significant changes in accounting and financial information system and process
NeoXam IFRS 9: Key Benefits
Anticipate and get ready for IFRS9 with NeoXamNeoXam Manager will guarantee future flexibility
Multi-accounting
Readily handle multi-accounting standards at the same time with single trade processing
Increase capabilities
Fully manage at trade level IFRS9 context (business model, financial asset classification, SPPI, rating from agencies, bucket) to increase accounting and audit trail capability
Flexibility
Be highly flexible in portfolios organizational structures while managing multi business model and multi asset-classification portfolios and sub-portfolios
NeoXam IFRS 9: Key Features
Support debt investment
Perfectly and natively support debt investment having tax lots in different buckets for impairment processing while accounting needs to be processed globally
Simplify reporting
Largely simplifies your processing on reporting date by relying on a fully embedded Expected Credit Loss impairment solution
Increase financial and accounting analysis
Easily increase financial and accounting analysis and controls with trial balances segregating figures per bucket, per accounting classification and per financial asset (analytical accounting)
Business Challenge
The new classification of financial assets could result in an increase of the income statement volatility
New procedures are required to monitor an increased volume of impairments on all debts that are not measured at fair value through profit and loss
The impairment since initial recognition based on probability of default (ex-ante model) requires changes in accounting and financial information system
Much more historical and risk data is required to measure changes in credit-risk assessment and to review impairments at each reporting date
Complex calculations have to be done within short timescales and using a large amount of data
Market Challenges
Financial institutions will be greatly impacted:
The classification and measurement of financial assets
The introduction of a new Expected Credit Loss impairment framework
The overhaul of hedge accounting models to better align the accounting treatment with risk management
From Financial IT: NeoXam are pleased to announce a signed partnership agreement with Kalaxis…
NeoXam are pleased to announce a signed partnership agreement with Kalaxis to address the…
