OneSumX IFRS 9 offers a solid framework combining lifecycle information on each individual financial instrument with a comprehensive set of IFRS 9 calculators. The resulting numbers are
recorded in a transparent, traceable, and auditable contract level IFRS subledger. The solution supports regulatory disclosures from local supervisors across the globe and offers powerful reporting tools. These features are supported by a data management framework that can capture and store relevant contractual information, manage events and transactions, store IFRS calculations, generate accounting, and process up to the delivery of the disclosures.
End-to-end treatment of expected credit loss (ECL)
Going from classification, stage assessment, and measurement of ECL to the accounting treatment and IFRS disclosure requirements.
Gain a competitive advantage
Ensures compliance now and for years to come with a sustainable, fully integrated finance and risk solution.
Save time
A solution with a modular design that allows banks to make the most of available resources to implement IFRS 9 within the agreed timeline and budget.
OneSumX IFRS 9 solution features
OneSumX IFRS 9 combines lifecycle information on each individual financial instrument with a comprehensive set of IFRS 9 calculators. The resulting numbers are recorded in a transparent, traceable, and auditable contract-level IFRS subledger.
The solution ensures global IFRS 9 compliance while accommodating local deviations. It’s backed by a robust data management framework that captures and stores relevant contractual information, manages events and transactions, processes and stores IFRS calculations, generates accounting entries, and delivers comprehensive process for IFRS disclosures.
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Classification and measurement
- Pre-defined IFRS 9 classification business rules and a complete set of IFRS 9 compliant accounting schemes
- A 'cash-flow' test to assess eligibility to measurement at amortized cost
- An amortized cost-calculation engine with built-in support for debt restructuring, below-market loans and a wide variety of product lifetime events
- Fair value measurement techniques
- Support for storing and reporting on the Fair Value Hierarchies (IFRS 13)
- A complete set of IFRS 9 compliant accounting schemes
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Impairment and expected credit loss (ECL) model
- Accounting schemes that include the logic for the expected credit losses over the full instrument's lifecycle
- Develop and build an ECL model that needs to be run in multiple scenarios
- Support for calculation and subsequent accounting processing of credit-adjusted effective interest rate (EIR), amortized cost and effective interest for purchased or originated credit-impaired instruments
- Apply expected credit loss calculators which can work with expert judgment or macroeconomic scenarios
- Track movements between any of the three stages on a portfolio and individual level
- Effectively manage disclosures under IFRS 7 and IFRS 9
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Hedge accounting with IAS 39 option
The hedge accounting element of the regulation can be addressed using either IAS 39 or IFRS 9 principles, and our flexible solution enables both methods. If the IAS 39 option is selected, the following features will be available for your team to leverage:- Hedge designation and documentation
- Hedged risk calculations (both delta and full)
- Hedge effectiveness calculation
- Accounting adjustment calculators
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Disclosures requirements
- Supports IFRS regulatory disclosures for local supervisors across the globe, including IFRS reporting templates such as Europe’s FINREP, asset encumbrance, COREP, and your financial statements under IFRS.
- Combines the lifecycle information on each individual financial instrument with a transparent and auditable contract level IFRS subledger and powerful reporting tools
- Full compliance with IFRS 9 and other IFRS disclosures
- Full transparency and traceability that fully satisfies internal and external audit needs.
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