Change Management for IFRS 9 Regulations

Case Study

Change Management for IFRS 9 Regulations

Banking Labs was engaged to address 3 critical streams - M&A, Post M&A and Change Management of the impacted business lines. Addressing changes to IFRS 9 regulations concurrently under tight budget and time constraints.

The Problem

Transition to sustainable IFRS 9 solution within tight timelines.

A leading North American Bank reached out to us to upgrade to a modern IFRS 9 solution. The Bank initially felt it would be impossible to move away from their existing provider in a cost effective manner with minimal disruption.

OUR 3-STEP APPROACH:

Accelerated due-diligence was initiated to identify business objectives aligned with synergies and dependencies.
Collaborated with SMEs and business with evidence informed action plan to finalize the IFRS requirements to meet the timelines.
Proposed robust architecture with proven ingestion and consumption patterns for handling risk and loan information for the both banks portfolios.

The Approach

Technology

Their viewpoint in Risk and Finance problems is the need of the hour.

Chief Information Officer
Leading NA Bank

Technologies Used

Oracle PeopleSoft EPM

Netezza

Ab-Initio

AWS

Action-oriented Banking Labs change management strategy was successful to transition the IFRS project from DnA to Risk group.
Introduced robust solution to eliminate manual intervention in non-prod environment to reduce non prod data load process.
Refactored the design, resulting in a 20% improvement in performance of overall IFRS9 daily process.

Change Management for IFRS 9 Regulations

Case Study