The KnowCo IFRS 9 Technical & Reporting Solution
We are pleased to announce the availability in our IFRS 9 Technical & Reporting Solution (K-IFRS9) of new functionality, supporting the generation of additional expected loss scenarios.
Previously the Solution held one expected loss scenario in the terms of the Standard, the most probable outcome, or base case. Now, users can develop other scenarios – best case, worst case, etc. These ECL parameter sets are separately stored and labelled in the database, permitting comparison of the effects of a range of outcomes while retaining complete data integrity.
And the ‘What If?’ functionality, released alongside, permits the remodelling of the portfolio and ECL outcomes given the marginal effect of one or more new transactions.
Users particularly like the intuitive look and feel of the solution and its easy configurability.
These significant enhancements will be available to our UK early-adopter base, and to current and future users coming through the pipeline. It is particularly pleasing to see that the K9 user group includes both new clients and pre-existing clients, like Guaranty Trust Bank UK, who have been KnowCo clients for many years in the context of our stress-testing system for liquidity, IRRBB and credit risk capital – ‘KST’.