DIGITAL TRENDS IN BANKING

BY CHETAN RAIKAR(166038)
Implementation of IFRS 9
IFRS 9 is an International Financial Reporting Standard (IFRS) promulgated by the
International Accounting Standards Board (IASB)
It addresses the accounting for financial instruments and contains three main topics:
classification and measurement of financial instruments, impairment of financial assets and
hedge accounting.
It will replace the earlier IFRS for financial instruments, IAS 39, when it becomes effective in
2018

Implications
Upgradation of software systems
Occurrence of cyber security loopholes
Moving away from ERP: TMS over the cloud
TMS: automate communication with banking partners, pulling cash flow data in real time while
ensuring finance data remains secure
As the treasury profession has developed, so has the TMS landscape, with vendors offering
lower-cost deployment options. The game changer in this respect has been the rise of cloud-
based solutions, whereby solutions and data are held off-premises on the TMS providers
servers and accessed through the internet

Benefits
Automatic update and upgrade of software
Better Disaster Recovery as the data can be accesses from anywhere
30% to 50% cheaper than a traditional server-based implementatio
In memory computing
In-memory computing is the storage of information in the main random access memory
(RAM) of dedicated servers rather than in complicated relational databases operating on
comparatively slow disk drives
Mobile banking and algorithmic trading generates tremendous amount of data, Traditional
relational databases are 1000x slower compared to RAM
Will be crucial for the implementation of advanced analytical and processing models

Benefits
Automatic update and upgrade of software
Better Disaster Recovery as the data can be accesses from anywhere
30% to 50% cheaper than a traditional server-based implementatio