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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

19 Jul

Retailer Banker International News Reports: Myanmar’s Shwe Bank completes digital upgrade

Myanmar-based Shwe Bank has completed the internet and mobile banking project in a step to achieve its business objectives and optimise its services. ...

19 Jul

Fintech News Reports: JMR Infotech successfully delivers Internet and Mobile Banking Project for Shwe Bank, Myanmar

JMR Infotech has completed its internet and mobile banking project with Shwe Rural and Urban Development Bank in Myanmar, aiming to leverage tech investments in the bank’s busin...

18 Jul

BankingTech News Reports: Myanmars Shwe Bank ups mobile offer with JMR Infotech

JMR Infotech has completed its internet and mobile banking project with Shwe Rural and Urban Development Bank in Myanmar, aiming to leverage tech investments in the bank’s busin...

17 Jul

IBS Intelligence News Reports: Shwe Bank completes digital banking refit with JMR Infotech

Myanmar-based Shwe Bank has completed a mobile and internet banking project with JMR Infotech. JMR, a long-standing implementation partner for Oracle and its Flexcube system, cu...

16 Jul

JMR Infotech successfully delivers Internet and Mobile Banking Project for Shwe Bank, Myanmar

[vc_row][vc_column width="2/3"][vc_column_text]The engagement enabled Shwe Bank to offer new products and services to their customers quickly & augmented the operational effi...

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