# Jaywing releases Horizon, a new IFRS 9 modelling solution that encapsulates its extensive credit risk expertise
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2016-09-07
Category: BUSINESS
Category URL: https://financedigest.com/category/business
Meta Title: Jaywing Launches Horizon: New IFRS 9 Impairment Solution
Meta Description: Discover how Jaywing's Horizon helps lenders meet IFRS 9 requirements quickly, cost-effectively and to best practice standards. Gain full transparency and
URL: https://financedigest.com/jaywing-releases-horizon-a-new-ifrs-9-modelling-solution-that-encapsulates-its-extensive-credit-risk-expertisehtml

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- Jaywing looks ahead to IFRS 9 implementation challenges with launch of Horizon, a new IFRS 9 impairment solution that helps lenders of all sizes meet the requirements quickly, cost effectively and to a best practice standard

Today, credit risk analytics expert Jaywing announced the release of Horizon, its new IFRS 9 impairment solution that enables lenders to quickly and cost-effectively produce IFRS 9 provisions, while supporting stress testing and ICAAP processes.

IFRS 9 will be a significant change to the financial reporting of banks and other lenders. It will affect many stakeholders, including investors, regulators, analysts and auditors. Given the importance of UK lenders in the global [capital markets](https://www.financedigest.com/jason-colodne-of-colbeck-capitals-april-3-market-rewind.html "Jason Colodne of Colbeck Capital’s April 3 Market Rewind") and the wider economy, the effective implementation of the new standard has the potential to benefit many stakeholders. Conversely, a low-quality implementation based on [approaches](https://www.financedigest.com/uks-finance-minister-sets-out-new-economic-approach-to-finance-bosses.html "UK’s finance minister sets out new economic approach to finance bosses") that are not fit for purpose has the risk of undermining confidence in the financial results of lending organisations.

Horizon provides lenders with a best practice [approach that deals with all aspects of IFRS 9 impairment modelling using regular feeds of a lenders’ own data](https://www.financedigest.com/how-finance-firms-can-unify-two-data-approaches-to-improve-both-compliance-and-security.html "How finance firms can unify two data approaches to improve both compliance and security"). The model engine combines Probability of Default (PD), Exposure at Default (EAD) and Loss Given Default (LGD) components to calculate Expected Credit Losses (ECL) over long ranges and under different economic scenarios. In addition, its user-friendly interface allows lenders to adjust the models to their individual requirements, while providing full transparency regarding all components of the solution.

Crucially, Horizon allows lenders to generate IFRS 9 provision without the need for a lengthy and expensive project or significant on-going maintenance overheads, making it a perfect fit for medium to small lenders. It also allows larger lenders to run their [data through an alternative](https://www.financedigest.com/how-alternative-data-drives-e-commerce-success.html "How Alternative Data Drives E-commerce Success") approach to sense-check their own bespoke approach.

**Horizon includes many features and functional implementations required for IFRS 9, such as:**

- User-friendly functionality to support IFRS 9 impairment calculations and expected loss modelling;
- A [single platform that can be used globally](https://www.financedigest.com/single-lead-ecg-machines-market-global-leading-companies-analysis-revenue-trends-and-forecasts-2027.html "Single Lead ECG Machines Market Global Leading Companies Analysis, Revenue, Trends and Forecasts 2027") for IFRS 9 and other regulatory requirements;
- Securely hosted, web-based and operates without the need for other calculation or [analysis](https://www.financedigest.com/due-to-the-advancements-in-technology-the-medical-image-analysis-software.html "Due to the advancements in technology the medical image analysis software") software;
- Users are up and running with everything they need much more quickly than equivalent in-house development;
- [Model development](https://www.financedigest.com/research-and-technological-innovations-to-bolster-developments-in-animal-model-market.html "Research and Technological Innovations to Bolster Developments in Animal Model Market"), execution and reporting are all undertaken within one environment, with full data exports for use in reporting.

**Ben O’Brien, [Managing Director](https://www.financedigest.com/tmwi-appoints-steve-hadfield-as-managing-director-as-the-agency-readies-itself-for-further-growth.html "tmwi appoints Steve Hadfield as Managing Director as the agency readies itself for further growth"), Jaywing,** said: “One of the main challenges to IFRS 9 implementation will be the methodology changes from incurred to expected losses. Many lenders won’t have the required expertise on-hand to help them [address these challenges](https://www.financedigest.com/rising-to-the-challenge-addressing-the-difficulties-of-pillar-2-reporting.html "Rising to the challenge: Addressing the difficulties of pillar 2 reporting"). That’s why we developed Horizon, it provides lenders of all [sizes with a best practice impairment solution that addresses the many challenges](https://www.financedigest.com/uk-economy-still-below-pre-pandemic-size-underscoring-challenge-for-truss.html "UK economy still below pre-pandemic size, underscoring challenge for Truss") of implementing impairment calculations.”

Jaywing has extensive experience in credit risk analytics and has developed this solution based on over 17 years’ experience helping many of the UK’s lenders from Shawbrook Bank through to Nationwide and Coventry Building Society with IFRS 9, IRB, [stress testing](https://www.financedigest.com/demystifying-us-feds-approach-on-systemic-climate-risk-stress-testing.html "Demystifying US Fed’s approach on Systemic Climate Risk Stress Testing"), ICAAP and credit grading requirements.

To find out more visit [**http://risk.jaywing.com/**](http://risk.jaywing.com/)


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