A large retail bank was looking at automating their Regulatory Credit Risk Reporting requirements.
The Bank has been using the ElysianNxt IFRS 9 platform which already hosts their internal models for PD, LGD and EAD models. This provided an ideal starting point for credit risk regulatory reporting.
Following the success of the IFRS 9 project, the bank decided to extend the use of the platform further and have implemented Basel III and Basel IV, respectively.
The Bank now has all its credit risk data centralized into the ElysianNxt platform. The universe of data, combined with the platform’s performance and user-friendly interface enables the bank to strive for the optimum end-state; a fully integrated stress testing framework.
2020 go-live date for IFRS 9
Implementing Basel Ill and IV
Potential stress testing scenario in the age of Covid:
"The long-term approach needs to be risk management not just risk compliancy. Banks need to be able to run their I FRS 9 and Basel solutions ad hoc and intraday to assess the ever-changing impact of a wide range of scenarios."
- Piet Mandeville, Product Director, Risk - ElysianNxtt
ElysianNxt is a Belgian-Thai RegTech company focused on providing the best real-time Risk and Finance solutions. By using cutting edge technology, it enables financial firms to respond in a faster and more cost-effective manner to business, economic and regulatory changes. ElysianNxt has offices in Brussels, London, Bangkok and Jakarta. www.elysiannxt.com
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veterans and subject matter experts, the company was established to provide an alternative solution to the traditional, outdated, monolithic applications that the financial industry is accustomed to in their quest to automate their back-end financial calculation obligations.
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