IFRS 9 and Digital Touchpoints Intersect for Digital Success

Posted by eCM Global on Jul 17, 2017 7:12:00 AM



eCM Global’s online technology solutions have several innovative digital touchpoints utilizing technology for invocative selling or etuitive analysis, as well as innovative service touchpoints such as automated text and email services.  However, doing business online, a financial institution must be able to respond “now.” To ask a loan applicant to come back later for a decision or telling them you’ll get back to them, is the same as telling them to take their business elsewhere.

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Topics: IFRS 9 & Digital Touchpoints Intersect for Success

IFRS 9 Make Your Tomorrows Today

Posted by eCM Global on Jul 2, 2017 11:46:58 PM



You may believe that you can put off compliance to IFRS 9.  The regulators will be more lenient, no hurry.  You admit that you will need to do it and sooner would be better than later.  How much better, you may not fully understand.  Consider for a minute that no matter when you begin implementing IFRS 9, you may have to adjust your financials for 2018.  If you haven’t done any evaluation of your credit risk, with a forward-looking provision, what will happen when you finally get around to that evaluation of your provision amount?  All your current loans, spanning a few years, will be evaluated for risk, all your new loans and any investment instruments, will be evaluated.  Your provisioning amount at that time may be quite an impact.  The amount could impact your capital requirements and your profit and loss.

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Topics: IFRS 9 Make Your Tomorrows Today

IFRS 9 Credit Risk Management - The Foundation to the Future

Posted by eCM Global on Jun 19, 2017 10:12:38 AM


Our IFRS 9 Credit Risk solution is a complete lending solution for financial institutions. Building a foundation with: a unique credit risk model for your financial institution; automated governance of both policies and procedures; stakeholder communications; auditability; data management; data retention and historical analysis. While at the same time, establishing the future by integrating IFRS 9 into our digital tools, thereby streamlining compliance for future growth. 

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Topics: IFRS 9 The Foundation to the Future

IFRS 9 Credit Risk Compliance Opens New Markets

Posted by eCM Global on Jun 5, 2017 2:58:43 PM



Our whitepaper “Business Currents and Technology (BCT) Convergence – Business Solutions for Financial Institutions,” identifies our technology approach that helps financial institutions increase revenues, improve service and attract new customers.  It also is a reminder of the importance of IFRS 9 credit risk management and how, if it is integrated within your lending operations, it will positively impact organic growth, market share and service.

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Topics: IFRS 9 Credit Risk Compliance Opens New Markets

IFRS 9 Roadmap - A Time for Action (Part 3)

Posted by eCM Global on May 28, 2017 10:34:31 PM


In our previous discussion concerning stakeholder communications, we concluded: compliance and accountability should be systemic within a software application.  Policies are the definition of accountability, stakeholders the integrators, communications the monitor and technology the enforcer.   It is essential that policies, stakeholders, communication requirements and the software are in sync and understand their roles in ensuring the IFRS 9 project success.

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Topics: IFRS 9 Roadmap - A Time for Action

IFRS 9 Roadmap - A Time for Action (Part 2)

Posted by eCM Global on May 24, 2017 10:18:00 AM


Now that you’ve selected who the stakeholders are and defined their roles and responsibilities, you have established your core IFRS 9 Credit Risk project management team.  The next step is to define your IFRS 9 credit risk policies and procedures.  As we mentioned in Part I of the roadmap, there are many considerations, such as; IFRS 9 procedure and policy for data management, to include lineage, lifecycle, data governance and data impact on loan originations and approvals, credit risk model development and its interaction with loan processing, managing the impact of expected credit loss and provisioning, etc.

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Topics: IFRS 9 Roadmap - A Time for Action

IFRS 9 Roadmap - A Time for Action (Part 1)

Posted by eCM Global on May 22, 2017 9:47:09 AM


With the time for compliance winding down, IFRS looms ominously like a storm on the horizon.  Considering how it impacts your lending area, you’re hoping that this storm passes by, without damage.  That’s not going to happen and you know it.  Therefore, the concern becomes whether you are operating in a manual or automated lending environment.  If your lending operations is manual, you should consider converting as soon as possible to automation.  The long-term effect to a manually operated lending area could be devastating compliance fulfillment.  If automated, the solution remains manageable.  In either case, we have the answer for your financial institution.  Both situations have the same basic concerns, in fulfilling IFRS 9 for loans; portfolio review, IFRS policy decisions, IFRS credit modeling impact, stakeholder accountability, historical retention and IFRS auditability.

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Topics: IFRS 9 Roadmap - A Time for Action

IFRS 9 Stakeholder Accountability Through Communication

Posted by eCM Global on May 17, 2017 8:57:00 AM


Accountability is typically thought of as a personal responsibility and being able to hold someone accountable is dependent on the quality of an individual.  However, accountability of a stakeholder, or of any manager, is dependent on factors typically out of the direct control of the individual.   As a result, the accountability of an individual is diluted the further downstream responsibilities are delegated.  To minimize the dilution of accountability, stakeholders must be given good communications, delivered through automated governance.  An organization must develop a plan that defines and delivers automated governance on functional processes to ensure adherence to corporate policies.  The first step is to clearly articulate both, the Board’s strategy, framed through the policies, and further defined through operational policies, meant to cause adherence to the Board’s strategy.

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Topics: IFRS 9 Stakeholder Accountability

IFRS 9 Data Management

Posted by eCM Global on May 15, 2017 11:45:54 AM


IFRS 9 may be your organization’s inception of data’s predictive capability for your organization.  Predicting the current expected credit loss will lead your organization into the world of data management.  It will make essential, the understanding of; where a piece of data was produced, where it journeyed through your organization and how it was used along the way.  The lineage of every piece of data, used for decision making, within your credit risk model, needs to be identified and managed.  On its journey the data’s life cycle will have various intersections with other processes and policies that will necessitate new policies and practices for data.

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Topics: IFRS 9 Data Management

Governance, in Word or in Deed?

Posted by eCM Global on May 8, 2017 12:47:39 AM


Good governance encapsulates the policies, processes and relations by which corporations are managed and directed. Governance implies the responsibility to manage to the policies defined for running any organization, identifying the distribution of rights and responsibilities among different participants in the corporation, such as; board of directors, managers and other stakeholders and includes the policies and procedures for making decisions in corporate affairs, including functional operations. Governance includes monitoring the actions, policies, practices, and decisions of corporations and affected stakeholders.

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Topics: IFRS 9 Governance