BCI Miami selects Wolters Kluwer’s OneSumX CECL
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You can activate this feature and other links for ALL VENDORS with a VendorMatch Premium subscription. Additionally you can gain access to an increased depth of data, summary reports, RFX reports (detailed completed RFIs - available to financial institutions only) and comparison grids. Please click here for more information.
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To protect vendor data only financial institutions and recognized advisors can subscribe to VendorMatch Premium. Please click here for more information.
or contact us to discuss a subscription.
Subject to reasonable use.
Survey Summary
The Survey Summary provides a download of the vendor profile, solution profile and the VendorMatch Discovery survey vendor responses used to power the directory. All responses are provided by the vendor online.
Note that this report is a high level summary of the vendor's credentials and a solution's capabilities designed to assist with solution short-listing. The RFX report is the more comprehensive Request For Information report designed to support evaluation and selection, this will only show where the vendor has completed the "RFX" RFI.
HOW TO SUBSCRIBE
To protect vendor data only financial institutions and recognized advisors can subscribe to VendorMatch Premium. Please click here for more information on Premium features or contact us.
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The RFX report is an XLS download of the Vendors response to the “RFX” Request for Information for this solution.
The RFX is a centralized golden copy of a RFI authored by our analysts based on their expertise in running real-life system evaluation and selection projects and completed by the vendor online.
Note to protect vendor that only Financial Institutions and recognized Advisor can subscribe to this feature.
In each instance the first time the link is used the user requests permission to access the RFX report and it is the vendor who is required to authorizes access. You will be alerted when the vendor has reviewed your request and granted permission.
HOW TO SUBSCRIBE
Please click here for more information on Premium features or contact us.
To learn more about subscribing to our service options, please contact us here
BCI Miami, the U.S branch of Chile’s Banco de Credito e Inversiones, has chosen Wolters Kluwer Finance, Risk & Regulatory Reporting (FRR) to provide software for managing its financial reporting obligations for the Current Expected Credit Losses (CECL) accounting standard.
OneSumX CECL includes the ability to develop and build an expected credit loss model that needs to be run in multiple scenarios. It also includes Expected Credit Loss calculators that can work with expert judgment or macroeconomic scenarios and allow for re-usage of methodologies such as vintage or loss-rate methodologies as described by the standard.
Notably, OneSumX CECL allows for a combination of forward-looking term structures and support for calculation and subsequent accounting processing of credit-adjusted effective interest rate (EIR), amortized cost and effective interest for purchased or originated credit-impaired instruments.
“We are delighted to welcome BCI Miami as the latest bank to use our award-winning software for managing CECL reporting obligations,” commented Claudio Salinardi, Executive Vice President and General Manager, Wolters Kluwer FRR. “We continue to provide banks throughout the region with access to a truly integrated finance, risk and reporting platform and look forward to working with BCI Miami on the implementation.”
Governance, Risk & Compliance is a division of Wolters Kluwer, which provides legal and banking professionals with solutions to help ensure compliance with ever-changing regulatory and legal obligations, manage risk, increase efficiency, and produce better business outcomes.