This is Raftâs second credit risk contract win in two months and represents the Companyâs first major Canadian customer. Powerex Corp., a wholly owned subsidiary of BC Hydro, will implement the core raft credit solution which provides advanced credit risk management capabilities including: exposure management and reporting, sophisticated workflow and comprehensive collateral management.
In addition, Powerex will be implementing raft scoring which will allow them to evaluate a counterparty on relevant criteria specifically selected and weighted for their particular industry, in order to score and calculate credit limits.
"We are delighted that Powerex has chosen raft credit to compliment their credit risk management strategy going forward and we are excited to be working with them to help achieve their business objectives." said David Priestley, Executive Chairman at Raft. "As our first major client in Canada, Powerex will provide us with an excellent reference site for future clients in this region which is a strategically important market for us."
Chris Boltwood, Credit Risk Manager at Powerex said "Powerex is extremely pleased with its selection of Raftâs industry-leading credit system, and is looking forward to implementing both raft credit and raft scoring. Credit risk management practices, processes and reporting capabilities are an integral part of Powerexâs control environment. The ultimate objective of obtaining a flexible and advanced credit system such as Raftâs is consistent with Powerexâs objective to align its credit risk management practices with industry best approaches to risk management."