ACTICO concluded a contract with CIMB, a top ten bank in ASEAN and the second-largest bank in Malaysia. ACTICO’s Credit Risk Management Platform will be replacing the banks’s in-house developed system. The target is to meet increasing internal and regulatory needs across the CIMB Group.
Targets:
> Accelerating the time-to-market
> Acalable regional rating system for CIMB Group
> Rollout planned fot late 2017 for entities in the APAC region
Fast time-to-deploy in the face of changing regulatory requirements
Banks always endeavor to adopt regulatory requirements and implement them swiftly within strict timelines. ACTICO’s Credit Risk Management Platform helps banks to master this challenge. This platform provides intuitive tools that empower system implementors to manage their credit risk rating models themselves using a graphical modeling approach and implement the changes in an existing business landscape. This was a main reason why CIMB chose ACTICO after a thorough evaluation and comparison with its market peers.
Rollout of the Credit Risk Management Platform in seven countries
The rollout of the new rating system is planned for late 2017 and covers CIMB entities in the APAC region: Malaysia, Indonesia, Thailand, Hong Kong, Singapore, and China. The initial project scope covers 13 scorecards, most of which were developed in CIMB Malaysia and adapted to the regional requirements in the other countries.
Thomas Knöpfler, CSO at ACTICO, sees ACTICO’s implementation and strategy to further develop the Asian region as one of their key markets. “CIMB is known as one of the most innovative banks in ASEAN. We are proud that, after Maybank in Indonesia, we now have a second flagship customer in the Asian market. Our collaboration is conceived as a long-term technology partnership.”
