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
