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Now that IFRS 9 is in effect across many banking markets, we will start to see business performance gaps resulting from different approaches to compliance. Smart institutions went beyond ticking off compliance boxes to building componentbased models, implementing agile software and developing comply and compete cultures. Today they have clearer, more detailed insight into portfolio performance under various future economic conditions—and the means to act promptly. This is the upside of best practice IFRS 9 compliance: It offers banks more competitive ways of managing risk and capital for sustainable growth through economic ups and downs.