ICS BANKS® International Financial Reporting Standard 9 (IFRS9) ECL is a sophisticated, forward-looking Expected Credit Loss model specifically designed to assist banks and financial institutions in accelerating the recognition of potential losses. This system is crucial for early identification and mitigation of credit risk, ensuring robust compliance with IFRS9 standards. The module supports both general and simplified approaches for its impairment model, which mandates the recognition of impairment losses based on the stage of a financial instrument, reflecting any decline in its credit quality. It is applicable across various banking sectors, including Islamic Banking, Commercial Banks (Conventional Banking), and adheres to FAS 30 and IFRS9 Financial Instruments requirements. The IFRS9 Module seamlessly integrates with the broader ICS BANKS® core banking system, offering intelligent features that empower confident decision-making. The underlying ICS BANKS® platform itself is built with innovative, modular, secure, and agile technologies, designed to be cloud-native and cloud-agnostic, supporting future-proofed digital banking products and an omnichannel experience. This comprehensive solution provides business agility to drive productivity and efficiency, profiling customer social engagement, and automating processes to deliver high accuracy and cost savings.

Features & Benefits

• AI-Powered Expected Credit Loss (ECL) Model
  • A forward-looking model that accelerates the recognition of losses, helping banks and financial institutions identify and mitigate credit risk early, ensuring robust compliance with IFRS9 standards.
  • Adopts general and simplified approaches for impairment modeling.
  • Covers Islamic Banking, FAS 30, Commercial Banks (Conventional Banking), and IFRS9 Financial Instruments.
• Intelligent Credit Risk Recognition
  • Features an AI-powered Probability of Default (PD) Model, applicable at both facility and account levels, to support confident decision-making.
• Flexible Scope and Segmentation
  • Offers flexibility for products within its scope, covering retail, SMEs, and corporate segmentation in alignment with bank business objectives.
• Comprehensive Audit Capabilities
  • Allows authorized users to perform a comprehensive review and modification of all system outputs, complete with robust audit capabilities.
• Seamless System Integration
  • Fully integrates with the ICS BANKS® core banking system and ICS BANKS® Credit Scoring & Risk Rating system, enabling internal rating calculations for customer credit quality and informed staging/classification decisions.
• Cloud-Native & Cloud-Agnostic Platform
  • Built as a complete cloud-native and cloud-agnostic platform, ensuring future-proofed digital banking products and business agility.
• Open Banking & Omnichannel Experience
  • Leverages an Open APIs Architecture to unify all digital systems, providing a seamless omnichannel experience for customers.
• Automated Processes & Robotics
  • Incorporates automated processes and robotics to drive productivity and efficiency, resulting in time and money savings with high accuracy.