ECL Master is a new software solution being developed by NTT Data Luweave to help financial institutions calculate Expected Credit Loss (ECL) in compliance with new accounting standards from Japan's ASBJ.

Who is this solution for?

The solution is targeted at financial institutions in Japan that need to adapt to the new, more complex ECL-based impairment model for financial assets, which aligns more closely with IFRS9.

What is the purpose of the 'preliminary co-creation project'?

It is a collaborative initiative with multiple clients and accounting consultants to study and standardize the business workflows for ECL operations before the official launch of the ECL Master solution.

What are the main features of ECL Master?

Its key features include standardizing business processes like amortized cost and ECL calculation, optimizing costs by using existing product assets, and creating a data foundation that can be reused for management metrics and future regulatory needs.

When will ECL Master be available?

NTT Data Luweave aims to launch the service during fiscal year 2027, following the finalization of the new accounting standards by the ASBJ.

AI News NQ Analysis

NTT Data Luweave Launches Preliminary Co-Creation Project for "ECL Master," an Expected Credit Loss Calculation Solution

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AI Summary (NQ-processed)

NTT Data Luweave is developing "ECL Master," a new solution to help financial institutions comply with new accounting standards for Expected Credit Loss (ECL). They have launched a preliminary co-creation project with clients and consultants to standardize business workflows, aiming for a service launch in FY2027.

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Frequently Asked Questions

Q: What is ECL Master?: A: ECL Master is a new software solution being developed by NTT Data Luweave to help financial institutions calculate Expected Credit Loss (ECL) in compliance with new accounting standards from Japan's ASBJ.
Q: Who is this solution for?: A: The solution is targeted at financial institutions in Japan that need to adapt to the new, more complex ECL-based impairment model for financial assets, which aligns more closely with IFRS9.
Q: What is the purpose of the 'preliminary co-creation project'?: A: It is a collaborative initiative with multiple clients and accounting consultants to study and standardize the business workflows for ECL operations before the official launch of the ECL Master solution.
Q: What are the main features of ECL Master?: A: Its key features include standardizing business processes like amortized cost and ECL calculation, optimizing costs by using existing product assets, and creating a data foundation that can be reused for management metrics and future regulatory needs.
Q: When will ECL Master be available?: A: NTT Data Luweave aims to launch the service during fiscal year 2027, following the finalization of the new accounting standards by the ASBJ.