Bangkok, February 2022
ElysianNxt is delighted to announce that Srisawad Corporation has chosen the IFRS9.NXT solution to fully automate its TFRS 9 calculations and reporting.
Srisawad Corporation Public Company Limited is a Thailand-based company engaged in financial services. The Company operates two major business segments, namely hire purchase and personal loans. Srisawad has expanded in the past decade and the company now has multiple entities in Thailand and neighbouring countries.
ElysianNxt’s award-winning IFRS 9 solution is part of a pioneering, end-to-end risk platform that was custom built with the latest streaming technologies and is aimed at meeting the ever-changing demands of risk and finance professionals. Designed to process large and complex calculations almost instantaneously, Srisawad has the ability to see the immediate impact of their provisions by performing a near real-time simulation and stress-testing. In addition to meeting and exceeding current regulatory requirements, the flexibility of IFRS9.NXT solution will also allow Srisawad’s users to perform multiple what-if scenarios across all their entities and business segments.
“I will guarantee you that even in the smallest village on a remote Thai island you will find the striking logo of Sriswad. This Microfinance powerhouse required their millions of loans calculated in real-time to comply with IFRS 9 regulations. ElysianNxt is delighted to partner with Srisawad giving their users the ability to not only run real-time calculations but also simulations within the .NXT platform. “
– Chris Puype, CEO & Founder ElysianNxt
About Srisawad Corporation
Srisawad Corporation Public Company Limited, formerly Srisawad Power 1979 Public Company Limited, is a Thailand-based company engaged in the financial services. The Company operates two major business segments, namely hire purchase and loan. The Company offers a wide range of hire purchase financing and secured loans for houses, land, personal and commercial vehicles, motorcycles, international labors, agricultural machinery and equipment, together with unsecured personal loans for retail customers in Bangkok and upcountry provinces, such as Ratchaburi, Suphanburi, Lopburi, Chonburi, Saraburi, Ayutthaya. Besides, the Company is engaged in the provision of non-performing assets management, investment in other companies, management and consulting services for retail credit systems in local and foreign countries, as well as credit sale in foreign countries. www.sawad.co.th
About ElysianNxt
ElysianNxt is a fast-growing RegTech company focused on developing the most technologically advanced, user-friendly, real-time Risk and Finance solutions. Comprised by seasoned industry veterans and subject matter experts, the company was established to provide an alternative solution to the traditional, outdated, monolithic applications that the financial industry is accustomed to in their quest to automate their back-end financial calculation obligations.
The company which was founded in 2017 has a head office and development centre in Bangkok, Thailand and other offices in Jakarta, Indonesia and Brussels, Belgium. To date, ElysianNxt has 37 client installations across 6 countries – Belgium, The Netherlands, France, Indonesia, Thailand and Malaysia. www.elysiannxt.com
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