Phoenix Default tool is a powerful plug&play banking software for IT implementation of a new EBA Default definition. Our solution is based on the best practice methodology, confirmed by BIG4 consultants, proven through Default automation in the largest CEE banks and offers the highest possible level of automation, covering all default triggers/events, prescribed by EBA, ECB, Local regulators or recognized by practice.

What do we offer?

Very experienced business experts with hands-on experience in Default automation

Dedicated software development team and agile project methodology

Translation of complex regulatory requirements into functional specifications

Powerful, highly flexible and easy to use/manage tool to support quick new DoD implementation

Non-invasive integration architecture – no need to rewrite legacy software

Extensive reporting and required data marts creation


What do you get?

Full EBA and local regulatory compliance

We developed Ibis Default solution based on best practice methodology proven through Default automation in the largest CEE banks. Traceability and high level of data outputs documentation will enable high quality risk parameter modelling to be used for credit decision, risk pricing or provision calculation.

The highest possible level of automation

Our solution offers the highest possible level of automation, covering all default triggers/events, prescribed by EBA, ECB, Local regulators or recognized by practice. For all triggers that cannot be (currently) automated, we offer manual entering and suitable processes. Automation of existing or adding new triggers fully flexible and managed by bank through steering tables.

Timely default recognition

In addition to full automation regulatory process, you can expect timely default recognition, proper management of NPL portfolio, as well as upgrade of cured clients.

WE COVER THE WHOLE PROCESS

EBA, ECB and Local Regulator compliance

Default app - proposal

Illustrative integration to a bank’s environment

Standard modules and functionalities

Setup module

Roles
Identity / Access Policy and User rights management

Data input & data validation

Data migration from the Bank Data Mart and transformation to pre-defined format
Technical data validations
Business logic validations
Data correction system

Web based GUI

Admin dashboard
User dashboard
Client view / action on client
Upgrade ready clients
Steering tables mngmt
Reports
Techical default mngmt

Notifications system

E-mail notifications for tasks (open trigger review or upgrade ready client)

Trigger recognition

Automated trigger - sent through input
Manual trigger - entered by user
Trigger list - manageable through GUI
Soft (with confirmation) triggers
Hard (not confirmation needed) triggers

Event activation/ deactivation

Different processes regarding events activation/ deactivation:
DPD
Distress Restructuring
Credit loss
Bankruptcy
Non- accrued status
Other UTP

Cure period

Different duration for different events
Additional criteria for forbearance

Healing

Automated upgrade for Retail based on successfully completed cure period and available performance rating
Manual upgrade process for Corporate

Dimension/ Steering tables

Parametrization and management
Different dimensions used in process
Drop- down menu lists
Rating scales
Business lines
....

Output data marts

PD data mart
LGD data mart

External databases

Credit bureau data
Bankruptcy register data
Pledge register data
Law register data
Cadastre data

Default DPD counter

Default DPD counter on client level with thresholds based on Basel exposure classes

30 60 90 Day Implementation Plan

THE FIRST 30 DAYS

Preparations

New Default definition policy proposal / analysis

Business requirement document alignment

Functional specification proposal and alignment

Input data alignment

AT 60 DAYS

Finalization

Set up application

Trigers/events within dimension & steering tables

Data import tests

UAT

Defect solving

AT 90 DAYS

Launch

Parallel run on MVP basis

Functionalities/ performance fine tuning

Additional trigers automation based on new data input provided

Roadmap agreement

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