We've successfully partnered with these companies, delivering outstanding results
Post 2008 financial crisis, regulators around the world realized that history based accounting standards can be extremely misleading and a paradigm shift in accounting methodologies is needed. So, in July 2014, IASB issued IFRS 9 standard which replaced existing IAS 39 provisioning method. The IASB stated that the IAS 39 incurred cost method leads to delayed recognition of credit losses, thus a forward-looking approach is being introduced.
IFRS 9 became effective worldwide on Jan 2018 and has since then posed huge challenges for accounting firms, auditors and corporations. Our strategies include:
FineIT provides IFRS 17 compliance software, Estimator17, designed
to streamline the recognition, measurement, and reporting of
insurance contracts. It supports accurate calculations of the
Contractual Service Margin (CSM), risk adjustment, discounting,
and fulfillment cash flows in line with IFRS 17 requirements.
Moreover, it enhances actuarial modeling, financial disclosures,
and data management, ensuring compliance with a forward-looking
approach to insurance contract reporting.
Our strategies include:
FineIT provides comprehensive risk management solutions, including model validation, regulatory compliance (Basel II, Basel III, IFRS 9, IFRS 17), and advanced risk analytics. Our expertise in market and operational risk ensures accurate assessment and mitigation strategies. We help financial institutions enhance stability, optimize performance, and stay compliant with global standards.
The Risk Management services we provide:
FineIT's model validation ensures financial models are accurate, reliable, and regulatory-compliant.
FineIT's market risk analytics use advanced models like Value-at-Risk (VaR) to measure and manage financial exposure in dynamic markets.
FineIT's operational risk analytics help financial institutions analyze, predict, and manage risks to enhance resilience and compliance.
"Thank you very much for your valuable support in implementing the IFRS 9 system within such a short timeframe. We truly appreciate the excellent training session, which has enabled us to confidently run the ECL in our own environment."
Ashraf Ali | Assistant Vice President – Finance
"FineIT Pvt Ltd successfully implemented the IFRS 9 Expected Credit Loss (ECL) solution at Reem Finance PJSC, significantly enhancing our operational efficiency and regulatory compliance. Their software streamlined the credit loss calculation process, improved our internal controls, and ensured full alignment with IFRS 9 regulations. We are confident this solution will continue to support our compliance needs and strengthen our financial reporting practices."
Harris Haroon | Head of Finance
“Before Estimator9, our ECL calculations were manual, spreadsheet-based, and highly time-consuming. Since implementing the solution, we’ve seen a major improvement in accuracy, speed, and audit readiness. Estimator9 provides a clear, structured approach to PD, LGD, and EAD modeling, and has become an essential tool for our finance and risk teams. The support from the FineIT team has been consistently professional and responsive. It’s added real value to our IFRS 9 compliance and reporting process.”
Niraj Bhartu | Director of Finance at Vision Group
We've successfully partnered with these companies, delivering outstanding results
