Misys, the leading financial software company, has been ranked as a category leader for the Chartis Research FinTech Quadrant for IFRS 9 Technology Solutions.
The Chartis FinTech Quadrant uses in-depth research and a clear scoring system to determine which IFRS 9 technology solutions demonstrate the greatest capabilities in meeting client needs.
The Misys FusionRisk solution centralises the calculations needed for IFRS 9 into a single and transparent calculation engine to manage the requirements for classification and measurement, impairment and hedge accounting. The new impairment requirements integrate specific credit risk scenarios within the expected loss engine. Reporting features include user-friendly dashboards for end users and pre-defined regulatory reports.
Misys core banking customers can benefit from an off-the-shelf implementation strategy that allows banks to have IFRS 9 computations immediately available. In addition, they can add value to their IFRS 9 project by integrating components like profitability, a complete set of credit risk analytics, treasury optimisation and end-to-end lending within the solution where needed. FusionRisk allows seamless integration with Misys core banking and lending solutions in order to manage an end-to-end process from core systems to accounting. For example, the system allows commercial lending to automate the complete workflow from loan origination to final accounting, including on-demand computation of risk exposures (such as Expected Loss) and management of impairment specific accounting events.
Peyman Mestchian, Managing Partner, Chartis Research comments: “By centralising key IRFS 9 processes and requirements through FusionRisk, Misys has developed a robust regulatory reporting solution. The regulatory landscape for financial institutions is becoming increasingly complex and solutions such as FusionRisk can provide the consistency and transparency required to overcome these challenges.”
Thierry Truche, Head of Product Management, FusionRisk, comments: “We are pleased to be recognised by Chartis as a category leader as we continue to bring our customers the tools that help them navigate new working practices and meet demanding regulatory requirements. IFRS 9 is a great opportunity to bring together risk, finance and compliance for a better management of Expected Credit Loss calculations and provisioning.”
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