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SAS, KPMG launch cloud-based IFRS9 and stress testing RegTech solutions in Asia

September 4, 2017

 

Source: FinTech Innovation

 

SAS and KPMG in Singapore have released two new Managed Analytics Service Providers (MASP) solutions - the first cloud-based, cost-effective and secure solutions in market to help financial institutions in Asia meet the International Accounting Standards Board’s (IASB) new IFRS9 reporting standards which take effect from 2018, as well as with enterprise stress testing.

 

Built on Microsoft Azure, KPMG expects the cloud-based IFRS9 and Enterprise Stress Testing risk analytics solutions to benefit banks with significant cost savings and business agility as compared to an on-premise software solution. The MASP model will allow financial institutions to access KPMG’s expertise in financial risk management and IFRS9 compliance, as well as SAS’ expertise in risk technology and model implementation, without the need for extensive investment in staff training or consulting services.

 

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