31 Jan 2020
In December 2019, the RiskMinds International event was held in Amsterdam, Netherlands. This was the first time ElysianNxt and b.fine participated in the RiskMinds International event by proposing a fully automated end-to-end solutions for BASEL 4 and beyond. ElysianNxt and b.fine are well known for their state-of-the-art technology used in their solutions which provides a user-friendly interface with optimal performance in the class above the rest.
Our product director for Risk, Piet Mandeville, chaired the panel discussion at RiskMinds International on BASEL 4 implementation challenges. Together with other expert practitioners, he shared the main challenges financial intuitions would face from BASEL 4 adoption by 2022. Participating in such an renowned event was a great opportunity for ElysianNxt and b.fine to be recognized as technology innovators in the global market and conversate with the risk community.
“After a hugely successful 2019 with all our IFRS9 implementations, the introduction of our state-of-the-art Basel4 solution in December marks an important next milestone for the company. RiskMinds 2019 was the platform of choice to launch our real-time Basel offering in European. The overwhelming interest shown both during and after the event shows banks are in dire need of better and (much) faster solutions overall. Many FIs are now running their Basel EOMs on the same solutions using the same technologies for over a decade now and have hit the boundary of what those systems can handle both in terms of user friendliness and processing power. Our near real-time processing together with our innovative approach towards delivering customer value seem to respond to a very urgent need across the banking industry.” says Piet Mandeville, Product Director – Risk from ElysianNxt.
“The RiskMinds International conference was a great opportunity to showcase b.fine’s and ElysianNxt’ joint offering for CRR2/Basel IV compliancy. Through the different conversations at our booth with CROs and senior managers combined with the focus group sessions, it became clear that that banks are still struggling with their regulatory risk & reporting processes and are really welcoming solutions like BASEL.NXT and BRX. Thanks to BASEL.NXT and BRX, banks can regain control and oversight of their processes and don’t need to compromise any longer on data quality and submission deadlines.” says Klaas Van Imschoot, Head of Data Strategy and Governance at b.fine.
About ElysianNxt
ElysianNxt has been well known for using the latest technology and applying micro-services and data streaming architectures in their Financial and Risk Solutions. Together it brings real-time Finance and Risk management to the financial industry.
With the unparalleled performance and the cutting-edge technology, ElysianNxt is now fully supporting more than 18 financial institutions across APAC for their adoption of IFRS 9.
Real-time simulations and stress tests on millions of contracts are performed in a matter of minutes instead of hours or days. The exceptional performance, lower total cost of ownership together with the user intuitive interface makes ElysianNxt very different to the traditional vendors.
ElysianNxt head office and development center is located in Bangkok (Thailand) and other offices are located in Jakarta (Indonesia) and Mechelen (Belgium).
About b.fine
b.fine was established in 2017 by Klaas Van Imschoot and Bert De Vriendt with a vision to industrialize the reporting processes within the financial industry. Today, several banks rely on b.fine to transform their time-consuming reporting processes into an effective reporting supply chain through different engagement models:
- Advisory: through its team of senior business and technology consultants, b.fine assists banks on their journey towards a fully managed reporting supply chain to overcome these challenges.
- Managed Services: due to an ever increasing regulatory pressure with shorter deadlines, banks are facing challenges to keep their reporting platforms up-to date and the associated costs under control. In order to support the financial institutions in keeping up the pace of regulatory change, b.fine has developed an ingenious service catalogue. Financial institutions can opt for the full menu or for an «à la carte» approach.
- Technology Solutions: b.fine has bundled its expertise gained on many different regulatory driven projects into its BRX platform. BRX is the first user-centric platform which supports the full reporting process in the most optimized way.
Contact b.fine:
Address: Co.Station Brussels, Parvis Sainte-Gudule 5, 1000 Brussels
Website: https://b-fine.eu/
Email: info@b-fine.eu
BRX: www.b-fine.eu/brx
About RiskMinds International
RiskMinds International is one of the world’s largest risk management events where over 700+ CROs and experts from financial institutions such as Banks, regulators, academia and much more get together to share views and discuss topics about financial risks. Financial Risk solution providers are also key participants in this event as they take the opportunity to demonstrate their latest Risk software solutions to many key decision makers from countries around the globe.
