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In most organizations, the financial performance of customers and counterparties is analysed manually. Risk assessments are therefore very time-consuming, while the result can turn out differently for each analysed company. Moreover, high-risk or problematic companies are sometimes missed or discovered too late and other companies can be incorrectly classified as high risk. Entering, processing and reading data therefore takes a disproportionate amount of time, while the insights obtained are insufficiently used.
A platform that facilitates automated risk analyses on the financial statements of customers, counterparties and suppliers.
Account managers within banks are expected to know in detail how their customers are doing. How are things financially? Are liquidity problems imminent? Are there opportunities for cross-selling? And how are the direct competitors performing? Collecting and keeping track of all this information takes a lot of time, while as an account manager you obviously have more to do - such as having a conversation with your customer. So how do you provide in-depth and up-to-date insight?
Credit risk managers have the task of keeping track of the overall status of the corporate loan portfolio. They need to have a precise understanding of the financial status of all their customers in order to be able to accurately assess the likelihood of loans being repaid. On this basis, the level of provisions for bad loans can be determined. It takes a large amount of time to zoom in on each individual customer however. Also, the existing internal data usually gives only a limited picture of what's going on with customers.