Postbank using Experian implemented IFRS for half a year

The Experian company in February, 2018 announced that thanks to solutions of Postbank company could complete successfully in 2017 the project on implementation of IFRS 9 of all for half a year.

Thanks to the implementation of IFRS 9 performed using Experian the bank passed from model of the suffered losses to model of foreseeable losses that will allow financial institution to take steadier position during potentially possible financial crisis. Besides, IFRS 9 are expected helping the banks locating the sufficient capital, to secure and adequately to reserve the loans granted by them.

Experience and analytical skills of Experian company, her profound knowledge of our sector and flexibility of the proposed solutions played an important role and allowed us to receive the desirable in such short term. Our director of risk management, my colleagues and specialists of Experian worked in close cooperation for fulfillment of requirements of regulating authorities and an adherence to deadlines of the implementing solution IFRS 9 considering all features of business of Postbank — the risk management expert of bank noted.

Experian managed to receive the necessary result thanks to experience with models on ensuring compliance with standards of Basel, GDPR and PSD2 — the consultant of Experian Marian Matakiyev told. — United approach to work became the key to success also: consultants of Experian and the staff of Postbank on a regular basis held internal meetings for development of the most effective strategy of risk management for bank for the purpose of ensuring growth and profitability of its business processes.