Fast train through Basel, with final stop IRB
How the 2017 stress test scenarios can inform IFRS 9
Jaywing’s IFRS 9 software Horizon, finalist in two categories at 2017 Credit Awards
13 April 2017
The awards, which honour all high achievers within the credit industry, will take place on Thursday 11th May. Jaywing's IFRS 9 software Horizon, is a finalist for both best credit and collections technology, and data and analytics expertise.
As lenders make the shift away from traditional statistical models, Artificial Intelligence (AI) technology and machine learning techniques are set to drive the next frontier for risk management. As the regulatory burden broadens and consumer expectations rise, lenders will need new ways of automating processes to streamline and manage credit risk while reducing manual intervention.
Research and advisory firm Gartner, identified machine learning as a top ten strategic technology trend in 2016 and said businesses must find ways to actively leverage machine learning if they wish to gain competitive advantage.
At Jaywing, everything we do is grounded in data science, and Horizon is our latest foray into the use of Machine Learning to drive credit risk modelling. The way that Horizon uses an established modelling methodology alongside machine learning techniques to produce IFRS 9 models presents a distinct advantage for Jaywing clients, who can now become compliant with IFRS 9 regulations without having to deploy advanced modelling resources at a project for an extended period.
Our approach builds on our experience helping over a dozen lenders with IFRS 9, coupling this with our modelling software to quickly and efficiently build compliant, regularly-updated models based on their own data.
This dramatically cuts the amount of design, test and deployment effort that would otherwise be required in a typical modelling project, enabling clients to be up and running quickly.
Horizon can also be used in stress testing and to validate the outputs of a more traditional manual model development.
We are looking forward to celebrating with all the finalists at the awards ceremony on the 11th May.