Zurich/New York, February 27, 2020 – The multinational management consultancy Synpulse has announced the expansion of its leadership team, and congratulates Marcel Loetscher and Daniele Abbruzzese on their promotion to partner. The consultancy’s executive team now consists of fourteen partners, including three managing partners. «The expansion reflects our successful development worldwide. More and more banks, asset & wealth managers, and insurance companies rely on professional consulting services to help navigate an environment of fierce competition and disruptive change. Synpulse meets this demand by advising on various topics, such as digital transformation, out of 13 locations worldwide,» says the CEO of Synpulse, Dr. Christoph Nützenadel. «Marcel and Daniele have built up the New York and Geneva offices and have significantly advanced our business in the USA and French-speaking Switzerland,» he continues.

North America/EMEA - Wealth Dynamix, a global leader in client life cycle management (CLM) solutions, today announced a new partnership agreement with Synpulse which will help scale up the global deployment of Wealth Dynamix's industry-leading WDX1 solution to the world’s biggest private banks, wealth, and asset management firms. 

With the London Inter-Bank Offered Rate (LIBOR) about to be phased out and replaced with SARON for the Swiss franc, banks and other financial institutions have a lot of work to do, very quickly. We take a first look at what’s involved and the reasons why you have to get started now.

In our last two articles we looked at the challenges involved in preparing data and defining the Unit of Account (UoA). These are the two things insurers tend to think about first when getting ready for 2022. But IFRS 17 is much more than an accounting and actuarial topic: it goes far beyond this, spanning the insurance industry’s entire operating model and affecting many other non-functional requirements.
 

Many insurers attempt to derive their Unit of Account (UoA) definition based on test or simplified datasets. They are shocked when they first see their IFRS 17 results based on real data. It’s much better to take steps early on to avoid these nasty surprises.

This is Part 1 in a 5 Part series publishing the results of the Next Generation Risk Engineering Market Study. 

The real challenges in IFRS17 are not accounting or actuarial topics, but essentially related to data, as the new standard requires a much finer granularity and enforces very strict data management controls.