New software product helps Deutsche Bank customers to better manage their credit risks and improve product profitability/ Risk management tool geared towards financial institutions, leasing and guarantee companies
Deutsche Bank’s Risk Management Advisory (RMA) group today announced it has introduced numerous enhancements to its web-based risk management tool Comprehensive Approval System (COMPAS).
COMPAS is an advanced web based lending platform for banks and financial institutions. The software helps to significantly increase the profitability of lending based products. COMPAS automates, standardizes and systematically manages the loan origination and credit approval process by providing an automated decision engine while managing the specific credit risks inherent in lending.
Jan Gross, Global Head of Risk Advisory Services at Deutsche Bank emphasized the importance of credit risk management: “Effective credit risk management is a vital component of a bank’s overall risk management and is essential to the long-term success of any banking organization.”
Among the new features that boost product’s effectiveness
• X-Process functionality, one stop solution to all risk management processing needs, support of multiple processes and regulatory rating systems (e.g. Corporate, SME and Retail)
• Counterparty Group Management, facilitates holistic view on risk, joint risk assessment & process automation option for parent-subsidiary relationships and related counterparties
• Web services interface, allows for COMPAS modules like the scoring and approval processing kernel to be used via COMPAS front end or from any other system, supports flexible integration with core banking engines.
In addition, COMPAS is available as a modular and flexible business suite. Customers have the option to select and deploy only the functionalities they need which offers customers increased flexibility and decreases total cost of ownership. Costs of implementation of new functionalities are greatly reduced.
Deutsche Bank RMA group developed COMPAS utilizing best practice risk management knowledge, as well as proven technical and business expertise of its premier solution development partner, Luxoft. Luxoft’s involvement makes COMPAS more competitive on the highly populated market of Credit management tools.