Oracle Financial Services Analytical Applications and PwC announced a global collaboration to offer premium technology, implementation and consulting solutions to help financial institutions meet near-term and ongoing compliance with the International Accounting Standards Board's (IASB) new IFRS9 and FASB's proposed CECL reporting standards. The collaboration will pair Oracle's software and analytical solutions, which provide pre-built rules, methods and reports, with PwC's compliance consulting and implementation expertise. Together, the two companies will provide financial services clients with full line of sight into all needs related to the new IFRS 9 accounting standard that banks must comply with by 2018. Among the key features of Oracle and PwC's IFRS9 compliance offering are: Pre-built rules analytical & models for addressing key IFRS 9 requirements including stage identification, cash flow calculation, PD term structure modeling & ECL calculation; Unified platform with a modular design that allows for easier extension of existing client technology, as well as the flexibility to integrate related regulator and accounting applications; Ability to identify and implement rules for account-level stage allocation; Development, calibration and implementation of models for calculating expected loss provisions across all asset categories including POCI assets; Cutting-edge credit risk models for point-in-time PD adjustment, lifetime PD, LGD, EAD and macroeconomic factors, EIR/EIS and credit adjusted EIR; and tools to help ensure technology environments are more effective and efficient through industry benchmarking and standardization.