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Fiserv helps financial institutions address complexities of CECL compliance with launch of Prologue Credit Loss Manager

Solution is an integral part of an efficient, streamlined approach to risk management

BROOKFIELD, WI (September 13, 2017)Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, announced today that the company is helping financial institutions efficiently and effectively respond to the shifting regulatory landscape with the launch of Prologue™ Credit Loss Manager. The solution provides support for the final Current Expected Credit Loss (CECL) standards from the Financial Accounting Standards Board.

“Risk management and compliance in an evolving regulatory environment is a significant challenge facing financial institutions,” said Jerry Silva, research director, IDC Financial Insights. “When navigating the requirements of the coming CECL standard, it’s critical that the institution anticipate what data is needed to meet the new requirements as well as assess the availability, quality and accessibility of this data.”

The CECL standards, which will become effective in 2019 and 2020, based on the size of the financial institution, require financial institutions to alter the way they approach their end-to-end reserving process, replacing the current incurred loss approach with a lifetime expected loss estimate. As institutions refine their understanding of these changes, they will be able to begin to proactively design current capital reserve calculation and risk management strategies with solutions from Fiserv.

Prologue Credit Loss Manager provides financial institutions with a broad range of information required to measure credit losses including “reasonable and supportable” assumptions that affect expected collections of principle or payments on financial instruments under the CECL standards. Because the solution allows consideration of any reasonable approach that reflects the possibility of a credit loss, accounting and risk managers and executives can better plan and adjust their strategy.

“Effective risk management is a key factor in financial institution efficiency and profitability,” said Dan Drees, senior vice president, Risk & Compliance, Fiserv. “The flexibility of Prologue Credit Loss Manager enables more effective risk management by providing financial services professionals with a more holistic, and realistic, view of their institution’s credit exposure.”

Financial information from Prologue Credit Loss Manager can be seamlessly integrated with insights from other Financial Performance & Risk Management solutions from Fiserv to provide financial institutions with a more unified, accurate and manageable view of their overall business performance.

In a world that is moving faster than ever before, Fiserv helps clients deliver solutions that are in step with the way people live and work today – financial services at the speed of life. Learn more at fiserv.com.

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About Fiserv

Fiserv, Inc. (NYSE: FI), a Fortune 500 company, aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale and business management platform. Fiserv is a member of the S&P 500® Index and has been recognized as one of Fortune® World’s Most Admired Companies™ for 9 of the last 10 years. Visit fiserv.com and follow on social media for more information and the latest company news.

Contacts

Fiserv Media Relations:
Mark Jelfs
Senior Manager, Communications
+1 262-737-8244
mark.jelfs@fiserv.com

NCR Atleos Media Relations:
Scott Sykes
Executive Director, Public Relations
scott.sykes@ncratleos.com

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