SPIN Analytics was highly recognised among the Top10 FinTech companies during MONEY20/20 in Amsterdam where it presented its New AI-Powered Solution which Boosts Development and Compliance of Banking Credit Risk Management Function

SPIN Analytics, which has developed RISKROBOT the most advanced solution for automating Credit Risk Model development, validation and management, participated between 4 and 6 of June at MONEY20/20 the biggest European FinTech Conference, and was selected by a special organisers’ committee among the Top10 FinTech companies.

“Our expert judging panel selected SPIN Analytics to be one of just 10 startups in our pitch competition at Money20/20 Europe 2018, recognising the company as a pioneering FinTech business which brings digital transformation for the global banking industry in the Regulatory Credit Risk space. At Money20/20 we are delighted to support startups at all stages – they are the lifeblood of this industry with new ideas, innovations and disruptions. SPIN Analytics is a great example of this.” said Tracey Davies, President, Money20/20.

“Banks constantly strive to increase shareholders’ and customers’ value by decreasing internal costs while applying new technologies extensively. Although the expansion in multiple new credit products has a bigger impact on the long-term sustainability of banks, it has become a costly procedure due to strict mandatory regulatory requirements, data limitation and manual work by internal risk analysts and IT resources. We developed RISKROBOT to address this huge opportunity and bring agility and efficiency to the banking sector,” said Panos Skliamis, CEO & Co-founder for SPIN Analytics.

SPIN Analytics developed RISKROBOT, a credit risk modelling and management platform for regulatory risk requirements in the aftermath of the recent financial crisis. The product is based on more than 25 years of credit risk-modelling experience and R&D by the team and on their collective work across major multinational banks. RISKROBOT minimizes model development and maintenance time up to 90% and can reduce the total direct and indirect costs by more than 70%.

There are three primary components to the product:

1. Data management such as data ingestion, normalization and homogenization, culminating in a highly performant, optimal Credit Risk Data Warehouse
2. Automatic Model Development via optimal modelling techniques and regulation matching
3. Fully automated Regulatory & Audit documentation report creation

RISKROBOT allows Banks to rapidly develop Credit Risk Models needed for underpinning new Credit Products with substantial benefits in:

• Scalability

• • Agile and flexible data structures
  • Big-data support and automated Data Cleansing
  • Capability of developing and maintaining multiple credit scorecards and models

• Fast and accurate Decision Making

• • Automation
  • Robust and accurate scorecards
  • Fast development of Credit Models
  • Close monitoring borrowers’ credit behavior and models’ performance.

• Reliability and business continuity

• • Solid and durable database
  • Mirroring, backup and disaster recovery
  • Robust software platform

• Compliance

• • Suites of models (PD and life-time PD, LGD, EAD/CCF)
  • IFRS9 / CECL / BASEL III
  • Fast and low-cost development & maintenance