Provisioning standards have been significantly improved in the previous years, requiring enormous resources from the Banks to comply with the regulatory and internal requirements.The Loxon IFRS 9 Calculation Engine is a system providing a comprehensive solution for automatic calculation of Loan Loss Provisions based on IFRS 9 regulations and country specific rules.
Making IFRS implementation easier for everyone. Run and grow your business with us!
Why Loxon IFRS 9
- ensuring the use of internationally standardized methodologies and regulation reflecting IFRS 9 requirements
- support of different provisioning processes according to business segments
- a flexible enough system, that allows to freely modify the existing algorithms or their incoming dataset
- full support of IFRS 9-based accounting classification and measurement calculation
Uniqueness of the IFRS 9 engine
The system automates data collection, accounting classification and measurement, portfolio building, classification, PD/LGD calculations, provision calculation and reporting in order to reduce redundant work, standardize provisioning process, increase internal controls and maximize data quality and calculation reliability.