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IFRS 17 compliance with out-of-the-box capabilities

How FWD Group achieved compliance and transformed finance

Client: FWD Group
Solution: IFRS 17 Solution
Industry: Insurance
Challenges: IFRS 17 & IFRS 9 compliance, accomodating rapid growth

Results delivered​

Addressed data and calculation needs required to comply with IFRS 17 & IFRS 9

Gained a solution that the finance and actuarial teams could understand and own

Supported the move to a new Group General Ledger

Provided a scalable solution to accomodate acquisitions and organic growth

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In their own words​

The breadth of functionality and the ability of the solution to deliver strategic value beyond compliance, is what attracted us to Aptitude Software in the first place. Aptitude Software’s management commitment was highly valued, and we were impressed by the amount of out-of-the-box capabilities that the solution offered to us.

David Man

Head of Finance Modernization and Technology, FWD Group

Watch the video!​

Project

FWD began implementing the Aptitude IFRS 17 Solution at the start of Q2 2018 and was one of the first insurers in the world to enter the UAT phase for IFRS 17 adoption. FWD is now closer to fulfilling its
goal to build a technology platform that will go above and beyond compliance.

Solution

After a selection process, FWD Group selected the Aptitude IFRS 17 Solution. It’s a highly configurable, enterprise IFRS 17 solution underpinned by a calculation engine and a highly extensible, rich subledger. This is the perfect choice for Insurers with complex, multi-entity requirements looking to leverage IFRS 17 compliance as a catalyst to drive finance transformation.

See our IFRS 17 Solution in action