Krung Thai Bank implements Financial Studio IAS/IFRS

Financial Architects (FinArch), the market leading vendor for integrated Finance and Risk software solutions, announces that Krung Thai Bank has selected its flagship Financial Studio to address Bank of Thailand (BOT) IAS 39 requirements.

Krung Thai Bank Public Company Limited (“Krung Thai Bank”) decided to implement the packaged IFRS solution to achieve timely compliance with Bank of Thailand (BOT) IAS 39 date lines. “IAS 39: Financial Instruments: Recognition and Measurement” is a measure of instrument by the International Accounting Standards Board (IASB) which sets out requirements and rules for recognition, de-recognition (removal) and measurement of all monetary assets and liabilities, derivatives and equity investments. The guideline improves the transparency and provides a buffer against impaired assets, significantly strengthening the banking sector.

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