Jaywing, a credit risk analytics firm, has reportedly formed a new partnership with Secure Trust Bank to streamline its commercial IFRS 9 processes.
Building on an existing partnership, Secure Trust Bank will utilise Echelon, Jaywing’s commercial credit slotting software, alongside the company’s commercial lending consultants.
Using Echelon, Secure Trust Bank credit grades each application at point of assessment. The solution provides underwriters with consistent commercial grading which feeds into the bank’s IFRS 9 processes.
Head of Risk at Secure Trust Bank, Mark Guise, said: “We needed to implement a solution which would tick a number of boxes. We had to be confident that the software would be user friendly and of value to our existing lending process, without disrupting our existing systems and processes.
“It was also critical that we were able to control the rulesets very quickly and easily. Echelon provided the cross-site flexibility we required, whilst also providing the stability and security needed.”
Jaywing combines its traditional analytical and data management expertise with an acute understanding of today’s big data and big data technologies according to its website. It aims to deliver value from regulator satisfaction to optimised processes and customer profitability. Echelon claims to be a cost-effective and easy-to-implement solution that enables lenders to manage commercial lending decisions.
Secure Trust Bank joins Jaywing’s roster of financial partners, which includes Everyday Loans and Paragon. Earlier this year, Jaywing partnered with London-based Ghana International Bank (GHIB) on a series of regulatory, credit grading and corporate banking programmes.
GHIB, which offers a wide range of personal and business banking services to connect its customers and facilitate trade and commerce, enlisted the help of Jaywing to provide expert consultancy for IFRS 9 and credit grading across the Bank’s trade finance, corporate loans and treasury assets.
Genpact, a global professional services firm that delivers digital transformation for clients, and the RegTech said they will automate and execute bespoke models for IFRS 9. The solution industrialises the rating model process and combines all the building blocks and calculation flows for IFRS 9 as an end-to-end process.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
