Wesleyan Bank has gone live with KnowCo’s stress-testing system, KST.

14 November 2016

KST provides comprehensive, intuitive stress-testing and business modelling functionality across liquidity, credit risk capital and IRRBB, set in a secure production environment and fed automatically with data from the Bank’s data warehouse.

KST will enable greater assurance and transparency around data integrity and offer significant reduction in senior management time spent on controlling spreadsheet risk.

Steve Deutsch, Chief Executive of Wesleyan Bank said: “Wesleyan Bank is a growing business. We are already a leading provider of short term loans in the legal market and have extended our reach into our other core customer markets including doctors, dentists, teachers and accountants.”

“KST is already making a positive difference to the way we build stress scenarios and analyse the results, and we can better assure data integrity when making important business decisions.”

The Bank is part of Wesleyan Assurance Society, a mutual established in 1841 that offers a full range of financial products and services for medical, dental, teaching and legal professionals.

With its high degree of configurability and intuitive interfaces, KST enables Wesleyan Bank to:

  • Securely store stress scenarios and business models in a production environment
  • Streamline and automate its risk data loading and stress-testing processes
  • dentify and visualise the potential effect of stress factors, individually and in combination
  • Model the behavioural responses of its assets and liabilities to a range of scenarios

KnowCo continues to work closely with Wesleyan Bank to ensure that KST continues to fully support its risk management objectives as it moves forward.

“We are delighted that Wesleyan Bank has chosen KST” said Paul Ashton, KnowCo’s Managing Director “and we look forward to continuing to provide risk management efficiencies and enhancements supporting the Bank’s drive for controlled growth.”

“We believe that the KnowCo solution is the most intuitive and transparent system for smaller- to mid-sized banks on the market, providing comprehensive capabilities around stress-testing and business modelling, all built on our deep experience of bank risk management best practice and our constantly-updated knowledge of regulatory expectations.”

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development