Chartis Names Oracle as Top Category Leader for IFRS 9 Solutions

Oracle has been named the top category leader in IFRS 9 solutions by research firm Chartis Research. Oracle believes its leadership position within the Chartis Research report further affirms their best-in-class offerings for all financial services entities looking to conform to IFRS 9 standards before the January 1, 2018 deadline.

“Our placement on the Chartis Research report is indicative of our continued success in providing exhaustive and effective IFRS 9 offerings,” said Ambreesh Khanna, Group Vice President and General Manager for Oracle Financial Services. “Now more than ever IFRS 9 implementation poses a distinct challenge for financial institutions that could potentially affect their bottom line. Our solution, built on Oracle’s integrated finance and risk architecture, is here to help define, plan and execute an IFRS 9 implementation roadmap. We look forward to helping our customers meet regulatory deadlines and were delighted to hear of our best-in-class placement on the Chartis report.”

The Chartis IFRS 9 Technology Solutions Market Update 2017 Report analyzes how financial institutions are responding to IFRS 9 requirements, emerging business and technology trends in the IFRS 9 technology marketplace and how solution vendors are responding to these new demands. The report also features the Chartis FinTech QuadrantTM to better illustrate vendor landscape. This quadrant utilizes a comprehensive methodology formed through in-depth independent research and a scoring system that explains which tech solutions best meet an organization’s needs. It provides an exhaustive and in-depth look at the best IFRS-9 solutions available in today’s marketplace with Oracle ranking as the leading service provider.

“The methodology behind our FinTech Quadrant™ distills key qualities of market leaders and in the case of IFRS 9, the new accounting standard that combines both the disciplines of Finance and Risk Management, Oracle is the category leader” said Hugh Stewart, Research Director at Chartis Research. “This is because of Oracle’s strength across the large number of disciplines IFRS 9 demands. These include data management and classification, accounting and general ledger, expected credit loss calculations and governance of modelling and enclosures. Across all of these, together with their delivery, support and marketing potential, Oracle came out on top.”