Provenir announces the launch of a Financial Analysis & Ratings solution (FAR v1.0) which is currently live at Nordea Bank AB, a leading Bank in Europe.
FAR was built in conjunction with, Nordea Bank AB to facilitate the analysis of the financial performance of companies and the derivation of ratings on a company’s credit worthiness. FAR helps to automate a bank’s lending policy, ensuring that a thorough analysis of the financial position of a company is made. Key features are the ability to easily capture multiple types of financial data & automatically apply rating models specific to industries or countries; a simulations engine to predict future financial performance and the ability to integrate existing ratings models, logic and calculations held in Excel, SAS, PMML etc.
The FAR module has provided the following benefits:
· A common tool for financial analysis and rating of corporate customers
- Secure compliance with internal guidelines and processes
- Improve risk management
- Ensure good data quality
- Decreased maintenance cost
- A flexible tool which allows the comparison & analysis of financial information in varying formats
- Ability to customise the financial analysis to specific business areas or industries
- Fully multi-currency and multi-language that can easily be changed by the user
The Provenir FAR solution forms part of the overall Provenir Commercial Lending Application that covers the entire lending originations process.