MEDIAPLANET
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Fast, frequent and detailed risk
calculations for banks
The increasingly strict reporting requirements for banks have called for increased automation of risk calculations.
“In 2025, the stricter Basel 4 standards will come into force. The financial sector will also become even more data-driven and the requirements around reporting will only get more stringent. Regulators will insist that reporting be done continuously and structurally all the way down to each individual contract. So the quantity, frequency, speed and complexity of calculations will only increase”.
Text: Joris Hendrickx
From which needs in the financial world did ElysianNxt emerge and grow?
“ElysianNxt is a regtech company that automates all the risk calculations that financial institutions have to report on, as per the standards and regulations of the National Bank of Belgium and the European Banking Authority. And there are a lot of these: credit risk, interest rate risk, liquidity risk, etc. Given the evolving needs in recent years and those coming in the future, as a young and flexible pioneer company we decided to focus on new technologies like artificial intelligence, cloud computing and microservices. This allows banks to perform their calculations much faster, more frequently and in greater detail.”
Why is that so important to them now?
“In the past, banks had to do monthly reporting. However, since the financial crisis, regulators have also been requiring them to add regular ‘what if’ analyses, simulations and stress tests. The COVID-19 crisis has also added reporting on possible macro-economic scenarios. On top of that, ESG standards require banks to include climate and transition risks in their calculations. For example, polluting sectors are likely to face a carbon tax, which will affect their profitability and thus their financial health”.
How do you see this evolving further?
“In 2025, the stricter Basel 4 standards will come into force. The financial sector will also become even more data-driven and the requirements around reporting will only get more stringent. Regulators will insist that reporting be done continuously and structurally all the way down to each individual contract. So the quantity, frequency, speed and complexity of calculations will only increase”.
Testimonial
“As a small Belgian niche bank, it’s been quite a challenge for CKV to comply with increasingly strict regulatory obligations in the past,” says Emmanuel Lambert, Digital Transformation Officer at CKV. “That’s why we decided to deploy ElysianNxt’s innovative software. It allows us to perform data analyses and report on them in a cost-efficient, flexible and easy way. Because it runs on cloud technology, this software can evolve continuously to meet new needs and obligations at no extra cost.”
About us
ElysianNxt is a fast-growing RegTech company focused on developing the most technologically advanced, user-friendly, real-time Risk and Finance solutions. Comprised by seasoned industry veterans and subject matter experts, the company was established to provide an alternative solution to the traditional, outdated, monolithic applications that the financial industry is accustomed to in their quest to automate their back-end financial calculation obligations.
Contact Information
BELGIUM
Cantersteen 47, 1000 Brussels, Belgium
+32 2 896 58 71
THAILAND
29/1 Piya Place Building, Tower B, 11th Floor Unit 11E, Langsuan, Ploenchit Road, Lumpini, Pathumwan, Bangkok 10330, Thailand
+66 2 255 2281
Contact Information
INDONESIA
Equity Tower, 49th Fl., Unit B, C, F Jl. Jendral Sudirman Kav. 52-53, SCBD District Centre, Jakarta Selatan 12190, Indonesia
+62 21 2965 1260