International Financial Reporting Standards 9 (IFRS 9) is a new set of accounting standards introduced by the International Accounting Standards Board. It is introduced as an improvement to the incumbent International Accounting Standard (IAS 39). This defines new rules for classification and measurement of financial instruments, impairment of financial assets and hedge accounting. IFRS 9 indicates a major change in accounting procedures for financial institutions globally.

IFRS 9 Overview

JMR Infotech’s IFRS 9 compliance services provide banks and financial institutions with best-in-class approach to comply with IFRS 9 regulation. We leverage our expertise in Oracle Financial Services Analytical Applications (OFSAA) to offer unparalleled IFRS 9 compliance expertise to our customers.

Typical Challenges faced by banks

The Solution

Oracle Financial Services Loan Loss Forecasting and Provisioning

Oracle Financial Services Loan Loss Forecasting & Provisioning (OFS LLFP) is a premium solution offered as part of Oracle’s world class OFSAA (Oracle Financial Services Analytical Applications) suite. OFS LLFP assures compliance to IAS 39 as well as IFRS 9 guidelines.

IFRS 9 Implementation Approach

JMR Infotech has adopted a specialized Implementation Methodology, which ensures an optimized, smooth and shortest implementation schedule, resulting in significant savings in terms of cost and timelines for compliance.

Reports & Dashboards

  • Comprehensive set of pre-configured Dashboards
  1. Allowances and provisions
  2. Loss forecast
  3. Stress testing
  4. Transition metrices
  • Reports for Trend Analysis, Comparative Analysis, Point-in-Time positions
  • Multi-jurisdictional reporting capability
  • Drill through capability to account level granularity for detailed analysis
  • Covers baseline and stress reports
  • Flexibility of modifying and creating new reports
  • Exporting reports and charts to MS Excel, Power Point, PDF, etc.

Key Business Benefits

Full and timely compliance with IFRS 9

Pre-configured business rules & calculations

Easy integration with other systems

Effective interest calculation & loss forecasting

Powerful BI analytics & reporting

Why Engage Us

  • Deep domain knowledge and global experience
  • Unparalleled expertise in Consulting, Solution Implementation & Technology
  • Proficiency in integrating OFSAA with transactional systems like FLEXCUBE, T24, Bancs, etc.
  • Structured implementation methodology to adhere to project timelines and reduce costs
  • Comprehensive managed services model that ensures continued post implementation support
  • Best-in-class practices

Get in touch with us to ensure a smooth transition to IFRS 9.

Other Offerings From JMR Infotech

Client Speaks

“Tangible Business Results” Mokhtar Eshili, Chairman, Aman Bank

“Tangible Business Results” Mokhtar Eshili, Chairman, Aman Bank

"We chose JMR Infotech because of their excellent engagement model. When they say extended arm they literally make it happen. Excellent customer service, faster turnaround times, h...

“Excellent Service & Domain Expertise” – Carlpeter Ngunuh, Manager of Business Application – IT, Family Bank, Kenya

“Excellent Service & Domain Expertise” – Carlpeter Ngunuh, Manager of Business Application – IT, Family Bank, Kenya

They did quite an excellent job and had the expertise required to bring the system up and running in a very short time. In terms of consultancy they are very good as you can engage...

“Quality leadership” – George Demetriades, Ex IT Manager Alpha Bank

“Quality leadership” – George Demetriades, Ex IT Manager Alpha Bank

JMR Infotech has got an excellent leadership which provides them with the required impetus to excel and improve their service.

“Business & Technology Expertise” – Umar El Farouk, CIO, GCB Ghana

“Business & Technology Expertise” – Umar El Farouk, CIO, GCB Ghana

I want to extend our sincere thanks for all the support given us from conception to delivery of the Oracle FCUBS and FCDB applications. The upgrade and migration has been a journey...

“Complex Project Successfully Delivered Across Multi-Geographies” – Syed Khurshid Ahmad, IT Vice President – Head of FLEXCUBE UBS Core

The Go-Live of the new Oracle FLEXCUBE UBS system for Wholesale Retail for Conventional &Islamic Banking was successfully completed in three separate geographies for GIB. The i...

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News & Events

30 Jul

Campus to Corporate – Welcoming Freshers On-board!

JMR Infotech conducted an orientation program for the newly recruited batch of freshers. The program was held at the Miraya Hotel, Whitefield. The bright young minds had a good st...

26 Jun

JMR Infotech among Top 20 Most Promising Banking Technology Solutions Providers by CIO Review

JMR Infotech has been recognized among the Top 20 Promising Banking Technology Providers for 2019 by CIO Review magazine. It is more important to note that JMR Infotech has been r...

21 Jun

JMR Presents at FAO Digital Agriculture Conference, Rome

    The Digital Agriculture Transformation Seminar, Rome, Italy organized by the Food and Agriculture Organization (FAO) was held on the 12th and 13th of June, 2019. The k...

21 Jun

JMR Infotech Makes an Impact at the Innovation Hub by Oman Arab Bank

JMR Infotech participated at the Innovation Hub conducted by Oman Arab Bank (OAB). This was the first edition of the Innovation Hub event, a 24-hr hackathon where over 300 partici...

14 Jun

JMR showcases AgriNet at TEDx, Manipal

“On 24th February 2019, TMA Pai Auditorium witnessed TEDx Manipal with the theme ‘Cognizance’. In the spirit of ideas worth spreading, TEDx collaborated with JMR Infotec...

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