Not all companies have the capacity to invest in sophisticated IFRS9 platforms and models. While IFRS9 requirements are scalable for smaller organisations, it is the expectation of Connected Analytics that organisations that can generate more accurate estimates of expected credit loss will gain competitive advantage. This will be through portfolio management (by better understanding sources of credit loss, enhancements to underwriting standards and risk appetite) and pricing (by better managing credit loss, pricing can be more appropriately set).
I9aaS (Software as a Service), in partnership with SAS and Amazon Web Services (AWS), provides our clients with a cloud-based platform to solve their IFRS9 challenges – generating the benefits of sophisticated models and estimates without costly internal implementation constraints.
The Connected Analytics I9aaS solution runs securely on AWS and offers a range of subscription options and tiers. Clients send their data to the I9aaS platform where it is verified, quality-checked and processed through a set of Connected Analytics IFRS9 compliant models, the style of which is based on a subscription tier. The platform controls workflow and governance, including overlays and the modelling outcomes and meta-data, to support transparency, with results returned to the client for use in financial reporting and disclosures, as well as ad hoc analytics.
Subscription options include Bronze (industry standard models), Silver (industry standard models customised for specific client) and Gold (fully-customised client models) and data can be processed monthly, quarterly or on-demand (real-time). Additional tools can also be accessed, including the Connected Monitoring Platform, Visualisation Dashboards and On-Demand Analytics.
This service is often provided as part of the IFRS9 Compliance Solution Set.