10 March 2023
Implementation in Bhutan – ECL & FRA

Client Profile

One of the largest banks in Bhutan adopted CARE Risk – ECL and FRA to achieve regulatory compliance and regulatory reporting infrastructure.


To comply with IFRS 9 reporting and to automate the Financial Reporting, thus, to increase efficiency and productivity across the bank.
Also create one single data base for analysis.

Problem Statements

IFRS 9, a new guideline in Bhutan and the bank was first to adapt it – lot of uncertainty on the models and approaches to be used for computations and data required for the same.
Bank had data from two different core banking system as there was a migration happening during our implementation leading to challenges in data quality.
Computation of complicated statistical computations such as PD and LGD and availability and storage of Historical Complexity involved in preparation of IFRS 7 Risk based Disclosures.
Computation of complicated statistical computations such as PD and LGD and availability & storage of Historical Data required for the computations,
Reconciliation of GL balances with transaction balances and generation of financial statements basis IFRS standard.
Concurrence of auditors with respect to computations.


Robust data validation engine acted as Single Data warehouse helped the bank sanitize historical data availability, computation and reconciliation issues.
Globally accepted best practices models was built in the system to enable the bank to comply with reporting on time.
The whole computation process was automated using a trigger-based approach. 
System facilitates historical data storage required for PD & LGD computation and manual upload facility where historical data was unavailable in legacy system.
Efficient user audit trail, controls, workflow, authorization and hierarchy approvals mapped as per bank’s policies thus facilitate the bank to obtain auditor concurrence seamlessly.
Fully configurable Reporting Engine which can be configured from the front-end by users, thus, generating Risk Based reports with drill down feature till transaction level.


Bank of Bhutan became the first bank in the entire country to comply with IFRS reporting norms and generation of IFRS set of financial statements with the help of our solutions.
Enabled integrated reporting through enhancing accountability, transparency and integrity.