UK financial services group Lloyds TSB has installed banking risk management software from SAS, a North Carolina-based data management software vendor. The technology will help the bank to meet Basel II credit risk compliance and further automate its risk management processes.The application covers the bank's retail loan portfolio and should help it to improve its capital allocations. Manual processes such as risk reporting, performance monitoring and credit scoring will now be automated. The software will also manage the bank’s data warehouse by analysing and segmenting its data.
SAS's software is a flexible application for managing credit, market and operational risk throughout an organisation. The service incorporates credit scoring, which helps banks to perform application and behavioural scoring to assess the creditworthiness of their customer base.
Shahram Sharifi, credit risk director at Lloyds TSB, said the bank has used SAS in its IT infrastructure for the past 15 years. The additional risk management and Basel II application was chosen following a competitive tender process.
More on Technology
Result comes despite tougher rules on market manipulation and abuse
Focus needs to be on reacting, not stopping every threat
Companies can wring more value from regulation-mandated data
Risk's annual round-up of new software developments
Sign up for Risk.net email alerts
Sponsored video: Tradeweb
Multifonds talks to Custody Risk on being nominated for the Post-Trade Technology Vendor of the Year at the Custody Risk Awards 2014
Sponsored webinar: IBM Risk Analytics
Nominated for two technology awards
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.