Guest Post | Advt. | Query: info@techrecur.com

Finastra brings IFRS 9 Regtech solution to Indonesia


Comprehensive software-as-a-service offering enables banks to navigate regulatory requirements effective from 2020

Singapore and London, UK, June 28 2018 – Finastra, today announced that it is bringing IFRS 9 compliance capabilities to Indonesia through a local Government accredited data center, helping regional and medium-sized banks take the necessary action now to comply with the new financial reporting standards due in January 2020.

As Indonesian banks prepare for the implementation of the local IFRS 9 equivalent, Instrumen-Keuangan-PSAK-71 (PSAK 71), the Finastra software-as-a-service (SaaS) Regtech solution will help them prepare the necessary reports for compliance. Banks are able to send relevant information to the data center, hosted by Praweda Ciptakarsa Informatika (Praweda), who will classify the data, perform the necessary calculations and generate the relevant accounting metrics, balance sheets and reports, using Finastra’s Fusion Risk.

Imad Abou Haidar, Managing Director, Asia-Pacific at Finastra said, “Indonesia’s financial services sector sits amidst a fast-evolving regulatory landscape. With regulations to enhance governance and risk management activities continuing to evolve, the introduction of PSAK 71 is just the beginning of Indonesia’s compliance journey. Often, smaller and medium-sized banks leave preparation late, underestimating how many tentacles IFRS 9 has and how far they reach. Our successful track record of using Fusion Risk to help clients around the world to build an IFRS 9 risk-compliant framework stands us in good stead as we support customers in Indonesia with PSAK 71.”

“IFRS 9 implementation is a transformational event for financial institutions globally, and its associated reporting requirements create challenges not just for global franchises but also for regional and medium-sized banks,” said Rob Stubbs, Head of Research at Chartis, an independent research house that has done recent analysis of IFRS 9 and its related technology solutions. “We see significant variation in the level of preparedness across the industry, with some institutions fully prepared and others adopting short-term tactics or deploying last-minute fixes to meet the deadline. Efforts to address the requirements of IFRS 9 should not be underestimated.”

To enable banks in Indonesia to meet the deadline smoothly, Finastra has also teamed up with PT Abhimata Persada (PTAP) who will provide client support servicing and Neoflex Consulting (Neoflex) who will offer consultancy in recalibrating and building Probability of Default (PD), Loss Given Default (LD) and Exposure at Default (EAD) models to help banks in Indonesia to stay compliant in a cost-effective and performance-efficient manner.

-ENDS-

For further information on the companies included please visit:
Praweda Ciptakarsa Informatika: http://www.praweda.com/
PT Abhimata Persada: http://www.ptap.co.id/
Neoflex Consulting: http://en.neoflex.ru/consulting/

For further media information please contact:
Caroline Duff
Global Head of PR, Finastra
T: +44 (0)20 3320 5892
E: caroline.duff@finastra.com
www.finastra.com

Catherine Lam
Senior PR Manager, APAC, Finastra
T: +65 6416 4032
E: catherine.lam@finastra.com
www.finastra.com

About Finastra
Finastra unlocks the potential of people and businesses in finance, creating a platform for open innovation. Formed in 2017 by the combination of Misys and D+H, we provide the broadest portfolio of financial services software in the world today—spanning retail banking, transaction banking, lending, and treasury and capital markets. Our solutions enable customers to deploy mission critical technology on premises or in the cloud. Our scale and geographical reach means that we can serve customers effectively, regardless of their size or geographic location—from global financial institutions, to community banks and credit unions. Through our open, secure and reliable solutions, customers are empowered to accelerate growth, optimize cost, mitigate risk and continually evolve to meet the changing needs of their customers. 48 of the world’s top 50 banks use Finastra technology.

Please visit www.finastra.com.

Corporate headquarters
4 Kingdom Street
Paddington
London W2 6BD
United Kingdom
T +44 20 3320 5000

Have any Question or Comment?

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

…… ……. … …

……… …. …….

….. …… ………

……. ….. …….

.. ……. …….. 0

buy! buy! CHEAP! Telefonie VoIP CHEAP! buy! buy! CHEAP!

.. ……. …….. .

buy! buy! CHEAP! Telefonie VoIP CHEAP! buy! buy! CHEAP!

Categories

……. ….. ……..

——————————————–

For the 2012 MLB period, we found an totals forecast Joao’s Renowned Over/Under João Zorro Gonçalves, Zcode Totals Pro, System of the time with progressions that have been successful over 98 98% ... We eventually perfected our over/under program ( Zcodesystemexclusive ), although it h-AS has brought years of investigation. Five Steps to Making a Winning MLB Method: 1. Execute appropriate cash management tools. 2. MLB rules that are comprehend. 3.Extensive testing back to make sure successful longterm results ...

——————————————–

There is always a challenge when you're dealing with the Foreign Exchange Market. That's just the nature of the beast. The best thing you can do is to learn about how the market operates as a whole so that you will be ready to meet these challenges. iq option penipu Never be misled by any profit gains in binary options. This is the number-one way traders end up losing their money and ultimately failing. Remember that the same things that make you laugh can make you cry in this market, and you can lose that $700.

——————————————–

Learning Polish has never been this fun and easy as with our podcasts Learn Polish with Polishpod101 Start today and become conversational in Polish in no time

——————————————–

The Best Website Agen Poker Resmi www.sakupoker.com Terpercaya come join

——————————————–

Do you need edmonton phone systems service ? Call complete communications today!

……… ……… .

——————————————–

High-tech solutions for easy start-up of your IPTV/OTT-business

——————————————–

——————————————–

If you want to purchase not only one item, you have a chance to enjoy privileges. There is a sale’ tab on the site which offers a fantastic range of reduced counterfeit watches and accessories, such as sunglasses, cufflinks, watch straps and pens. Luxury Jewelry Replica At MCA.MN On Sale You get a 5% discount if you buy two pieces, this discount increases to 10% if you buy 4 pieces or more. There is free international shipping on all orders on this site. We also offer customers a free return anytime with a 100% money back guarantee.

Archives

——————————————–