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Prometeia gives Credit Managers an edge with new Early Warning tools

Prometeia, the global leader in Risk Management consulting and software solutions, announces the release of a new module of its Electronic Credit Application (ECA) Suite. The Early Warning Module is designed to effectively support the monitoring and control of loan portfolios and to implement sound and efficient remedy strategies at counterparty or transaction level.

Prometeia’s ECA brings together a state-of-art position system and a comprehensive reporting tool for managers’ performance measurement into one integrated solution, supporting and improving the early warning management of loans’ credit quality.

“Our aim is to meet the incoming needs of banks required to cope with the effect of economic recession and the uncertainty generated by the sovereign debt crisis,” comments Massimo Pedroni, Head of International Business in Prometeia. “We believe that an advanced early warning system is vital to mitigate the deterioration of credit portfolios: our tool can significantly reduce the probability of counterparties’ default, limiting the economic uncertainty embedded in the origination process. As a side effect, our solution allows to optimize capital requirements and improve the risk-adjusted performance of loan portfolio,” concludes Pedroni.

New functionalities embedded into the Early Warning Module are:

  • automatic or manual definition of a watch list of counterparties that should be subject to specific monitoring criteria, in order to prevent credit deterioration and enforce actions that will improve the risk profile and contain potential future losses;
  • dynamic portfolio tracking, signalling both the worsening and improvement of risk profile over the time;
  • user-defined definition of monitoring processes and priorities, including tracking rules designed to reduce manual efforts and operational risk normally embedded in the workflow management;
  • determination of credit limits, indicators thresholds and list of irregular events that trigger signals defining different warning levels.

Prometeia’s ECA suite encompasses other features and functionalities related to Early Warning:

  • native integration with both Prometeia’s rating engine (RatingPro), for the deployment of behavioural score/rating/early warning models, and Prometeia’s Credit Monitoring tools for an effective limit monitoring process;
  • guided procedure enabling the definition of priorities in handling irregular events, remedy actions and updates of related facilities/collaterals, with clear identification of roles and responsibilities across the organization;
  • supply of a customisable set of mandatory strategies based on risk categories, priorities and segments;
  • integration with a powerful reporting tool covering events, clients, remedy actions and KPI definition for the measurement of the early warning model performance.

ECA Suite is an integrated, workflow driven SW platform, combining powerful computational engines and state-of-the-art risk analytics. Implemented in more than ten countries across EMEA, the platform supports critical decision management and compliance with local and international regulations.