Algorithmics to add administration capabilities to credit risk tool

Toronto-based Algorithmics has created a new credit administration system, aimed at streamlining management of all operational aspects of the process, including credit approval collateralisation.

The system will improve the quality and consistency of information, and aid decision-making, said Richard Tschemernjak, a managing director at Algorithmics in Vienna. “[It will] shorten the credit approval process, improve operational efficiency, manage operational risk and ensure compliance,” he added.

Algo Credit Process Manager handles credit initiation, credit approval and exception handling. Users can input credit applications into the system and track the various stages from the