FINCA Impact Finance Partners with Finastra to Meet IFRS9 Regulatory Standards

Fusion Risk will ensure regulatory compliance and increase efficiency and profitability of FINCA Impact Finance’s provision of financial services.

November 20, 2018, Washington, DC, and London, UK—FINCA Impact Finance has gone live with Fusion Risk to improve its short-term regulatory compliance and reporting in line with the International Financial Reporting Standard 9 (IFRS9). Fusion Risk is a retail banking risk and compliance solution provided by Finastra, a UK-based financial services software provider.

Also implemented in partnership with Neoflex, a leading Russian IT services company, Fusion Risk will optimize FINCA Impact Finance’s day-to-day operations and increase efficiency and profitability in its provision of financial services.

“We needed a solution that would allow us to comply with regulatory requirements and manage the efficiency and profitability of our lending business around the globe”, said Roman Hingorani, FINCA Impact Finance’s vice president & CFO. “Fusion Risk, which is being implemented by a diverse team that cuts across our Finance and Information Technology departments, eliminates the complexity around regulatory compliance by implementing single data management processes for FINCA Impact Finance’s 20 subsidiaries.”

Fusion Risk will help FINCA Impact Finance ensure regulatory compliance and data management as it continues to implement digital innovations to improve efficiency and better serve its customers under FINCA 2.0.

Read the full press release here: https://www.finastra.com/news-events/press-releases/finca-impact-finance-goes-live-finastra-meet-regulatory-standards.