2 Getting Started with IFRS 9 Solution Cloud Service

Oracle Financial Services IFRS 9 Solution allows financial institutions to address the first phase of IFRS 9 requirements i.e., Classification and Measurement. The application supports Stage determination and account classification. The application measures the Effective Interest Rate (EIR). The application supports two amortization methodologies: The effective Yield Method and the Straight-Line Method. The application supports various reports which can be used for multiple non-regulatory and regulatory purposes.

Key Benefits:

• Segmentation can be achieved with the help of multi-dimensions.
• Build Stage Determination and Stage Curing rules based on the financial institution’s requirements.
• Build Account Classification rules based on the financial institution’s requirements
• Override of IFRS 9 Stage and Account classification with the workflow management process.
• Generate account-level cash flows and EIR
• Selection of Amortization process at the granularity of multi-dimensions
• Amortization of Fees, Premium/Discount, Cost, and calculation of Modification Gain/Loss Amortization cost supported to fulfill the requirements of IFRS 9
• Slice and dice data with user-customizable analytical reports