TKS Bank completed automation of the portfolio reporting under IFRS

On January 17, 2017 the Neoflex company announced development of architecture for automation of preparation of the portfolio reporting under IFRS on the platform of the corporate data warehouse by request of Tinkoff of Bank.

Project Tasks

The reporting under IFRS - key for the guide of the customer, including at acceptance of management decisions. Before finance department of bank there was a task - to provide transparency, flexibility and high speed of preparation of this information. There was a need to design the solution which will allow bank to reduce labor costs by collecting and data processing on the loan portfolio, to refuse the manual mode of preparation and assessment of indicators according to IFRS, to make process of accomplishment of calculation centralized and to increase detailing of calculations of all required adjustments to the separate loan agreement. As the partner for accomplishment of this task Tinkoff Bank selected Neoflex company.

Advertizing "Tinkoff of Bank", (2015)

Project Progress

Specialists of Neoflex company collected requirements from business customers, prepared and approved with BRD bank (Business Requirements Document) and FSD (Functional Specifications Document) on automation of process of creation of the reporting under the loan portfolio of individuals and also on addition of a reserve for IFRS based on the corporate data warehouse of bank.

Project Results

A lot of work on inspection of business processes in bank was carried out: the volume of the prepared documentation exceeded 400 pages. To preparation of BRD and FSD from bank very high requirements were imposed. In fact, specialists of Neoflex not only conducted examination of the current business processes, but also developed recommendations about their optimization which formed the basis of the description of future solution for automation of the reporting under the loan portfolio according to IFRS. The offered technique of collecting and data processing is based on experience of Neoflex and considers requirements of international standards. Elena Lukutina, partner, director of operating activities and technology development of Neoflex

On the basis of information obtained during inspection of business processes, the command of Neoflex prepared the detailed description of the architectural concept allowing bank to transfer all processes of transformation of data by preparation of the reporting under a portfolio according to IFRS from Excel to the data warehouse. The solution proposed by Neoflex will allow bank to improve analytics of managerial indicators in terms IFRS in the uniform data warehouse and to automate the reporting under the loan portfolio taking into account all necessary IFRS adjustments by each loan agreement.

Thanks to the solution designed by specialists of Neoflex, we obtain daily operational and detailed information on IFRS indicators of separate retail loan product portfolios. It gives more transparent interrelation of the public reporting with management decisions and helps to understand and to financially estimate even small trends in a customer behavior. Pavel Tokarev, deputy finance director of Tinkoff of Bank