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Compliance Software Solutions for Financial Institutions in Kiribati

In a bid to stay ahead of the regulatory curve, financial institutions in Kiribati are turning to cutting-edge compliance software solutions.

Finevare: A Comprehensive Compliance Solution

Deloitte, a global leader in auditing and consulting services, has developed Finevare, an innovative solution designed to help financial institutions comply with complex regulations such as IFRS 9. Finevare’s comprehensive coverage includes:

  • Classification
  • Measurement
  • Calculation of risk parameters
  • Segmentation
  • Business workflow support

This makes it an ideal solution for financial institutions seeking to streamline their compliance processes. The software’s intuitive graphical interface is user-friendly, allowing administrators to easily: + Configure data sets + Run reports and simulations

IFRS17 Functionality

One of Finevare’s standout features is its out-of-the-box IFRS17 functionality, which includes:

  • Insurance contracts valuation
  • Cash-flows generation engine
  • Forecast and planning
  • Simulations and reporting
  • Accounting modules

The software also offers an extensive set of predefined IFRS17 disclosures and business reports that can be further customized to meet individual needs.

Ready-to-Implement IFRS 9 Solution

Financial institutions in Kiribati can benefit from Finevare’s ready-to-implement IFRS 9 solution, which meets all requirements for provisioning under the IFRS 9 standard. The software’s pre-configured “Model Bank” provides a starting point for customization and reduces deployment time.

Comprehensive Compliance Solution

Finevare’s comprehensive solution covers: + IFRS 9 calculations + Simulations + Automation + Process support for enterprises

This makes it an attractive option for financial institutions seeking to optimize their compliance processes. With its n-tier software architecture, Finevare integrates naturally into data warehouses, General Ledger, and BI tools, ensuring seamless integration with existing systems.

Benefits of Leveraging Finevare’s Compliance Software Solutions

By leveraging Finevare’s advanced compliance software solutions, financial institutions in Kiribati can:

  • Ensure accurate and timely compliance reporting
  • Reduce risk exposure
  • Improve operational efficiency

In summary, Finevare is a comprehensive compliance solution that helps financial institutions in Kiribati streamline their compliance processes, reduce risk exposure, and improve operational efficiency.