In this episode of the ElysianNxt Podcast, we explore how Creditspring, a UK-based alternative lender, transformed its compliance-driven IFRS 9 journey into a foundation for long-term business intelligence amidst rapid growth and increasing regulatory complexity. Jim Donnet (Chief Financial Officer) and Charles McCulloch (Finance Director) of Creditspring join Chris Puype (CEO & Founder) and Matthias Coessens (Managing Director EMEA) of ElysianNxt to discuss how collaboration, transparency, and shared commitment turned compliance into confidence.
From Audit Pressure to Scalable Processes
As Creditspring’s fixed-fee loan portfolio expanded beyond 1.6 million loans and £650 million in disbursements, its Excel-based IFRS 9 models could no longer deliver the transparency or precision auditors demanded. Facing growing data volumes and audit scrutiny, the team sought a sustainable, scalable solution to automate Effective Interest Rate (EIR) and Expected Credit Loss (ECL) calculations.
Selecting the Right IFRS 9 Solution
Creditspring’s selection process extended beyond software functionality and cost. The team valued a partner who demonstrated:
- Commitment and ownership – from detailed demos to a “we’ll make you a referenceable client” delivery mindset
- Continuity and trust – the same people steering the journey from initial discussions through to go-live
- Open collaboration – the team’s willingness and platform’s ability to adapt to Creditspring’s unique fixed-fee lending model
These principles led to the selection of ElysianNxt’s IFRS9.NXT platform, offering end-to-end auditability and a clear, intuitive framework for complex regulatory calculations.
Delivering Results Beyond Compliance
The implementation journey was driven by teamwork and transparency between both organisations. What began as an audit-driven IFRS 9 initiative has evolved into a platform that delivers business value beyond compliance:
- Faster recalibrations of EIR & ECL assumptions
- Improved audit readiness and internal controls
- Actionable insights that inform product-mix and credit-performance decisions
Conclusion
Through close collaboration, Creditspring and ElysianNxt turned IFRS 9 from a regulatory task into a driver of smarter decision-making, stronger governance, and long-term financial stability.
Listen to the full episode to hear how partnership and trust can turn complex compliance into meaningful IFRS 9 performance.
