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IFRS 9 (Estimator 9)

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:

  • ✓PROVISIONING UNDER IFRS 9

  • ✓OUR ECL Estimation Methodology

  • ✓HOW IS IT DIFFERENT FROM BASEL and RATING MODELS

  • ✓IFRS9-Estimator - Product Features , Structural Architecture, Integration Process

  • ✓IFRS9-Estimator - 4 Tier 24/7 Support System

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  1. Reem Finance uses FineIT IFRS 9 software, IFRS 9 compliance software, ECL Software, expected credit loss software
  2. PMIC uses FineIT IFRS 9 compliance software, ECL Software, expected credit loss software
  3. Sindh Bank uses FineIT IFRS 9 software, expected credit loss software
  4. vision investment limited uses FineIT ifrs 9 for ECL calculations
  5. safco uses FineIT ifrs 9 software solution for ECL calculations
  6. Future Pipe uses FineIT ifrs 9 for ECL calculations
  7. Kashf uses FineIT ECl software for ECL calculations
  8. Arabian Industries uses FineIT IFRS 9 compliance software, ECL Software
  9. Watania Takaful uses FineIT IFRS 9 software, expected credit loss software
  10. SRSP uses FineIT IFRS 9 software, ECL Software, expected credit loss software
  11. Thardeep Microfinance Foundation uses FineIT IFRS 9 compliance software, expected credit loss software
  12. JingleCred uses FineIT ECL Software, expected credit loss software

IFRS 17

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:

  • ✓Simplifies IFRS 17 compliance with an intuitive interface.

  • ✓Accurately calculates CSM, risk adjustment, discounting, and cash flows.

  • ✓Ensures adherence to IFRS 17 for actuarial modeling and disclosures.

  • ✓Enhances data management with a forward-looking reporting approach.

  • ✓Integrates seamlessly into existing workflows, saving time.

  • ✓Provides real-time, precise reporting for improved compliance.

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Risk Management

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:

  • ✓Model Validation: Ensuring Accuracy and Compliance

    FineIT's model validation ensures financial models are accurate, reliable, and regulatory-compliant.

  • ✓Market Risk Analytics: Precision in a Dynamic Market

    FineIT's market risk analytics use advanced models like Value-at-Risk (VaR) to measure and manage financial exposure in dynamic markets.

  • ✓Operational Risk Analytics: Strengthening Resilience

    FineIT's operational risk analytics help financial institutions analyze, predict, and manage risks to enhance resilience and compliance.

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Discover more about our IFRS 9 software and ECL Software demo for compliance and automation.