Banks are subject to certain regulations and requirements that aim to uphold the integrity of the ﬁnancial system. Financial institutions are regulated by governments to disclose and handle their capital in a certain way. The categorisation of assets and capital is highly standardised so that it can be risk weighted.
A number of high proﬁle ﬁnancial scandals have raised both the proﬁle and importance of areas which control the reporting of information to external bodies. Financial services companies are legislated by a variety of bodies – MAS, HKMA, FINMA, PRA (UK), FED (US), BEA (US), TIC (US) etc.
We support clients in upgrading their legacy systems through both custom-built solutions as well as implementing third party package/products.
In third party packages, Amlgo Labs brings extensive experience in implementation and upgrades of a range of products (AxiomSl, Moody’s Analytics, OneSumX from wkfs etc).
Development experience for IFRS 9 and CECL compliance using technology experts with major vendors in this area – WKFS & AxiomSL.
To foster stability in the global financial system, banking and financial institutions are gearing up to comply with the new International Financial Reporting Standards 9 (IFRS 9) and Current Expected Credit Loss (CECL in US) regulations. Global banks are in the midst of implementing large multi-year programs to achieve IFRS 9 / CECL compliance. Our team of techno-functional experts are well prepared to help banks accelerate implementation using our frameworks and accelerators and they bring live experience from the core of the development.
Model validation framework to validate credit risk models such as PD, LGD, EAD
IFRS9/CECL Analysis for certain customers willing to complaint for both
Data Sourcing for data aggregation, calculation services and reporting
Data aggregation and lineage framework to support audit and traceability requirements
We help in choosing the best implementation options by doing build vs. buy analysis and vendor evaluation. It depends upon certain criterias like performance, volume and processing etc for the tool.