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Software Mind in cooperation with Fortis Bank Polska SA has developed a new version of Software Mind Risk Management, a comprehensive support tool for departments that deal with identifying, supervising, monitoring and reporting events that increase credit risk.
The system is dedicated to both retail and corporate banking. The main task of the solution is automatic monitoring of the bank product portfolio and detecting as well as reporting new unfavourable situations increasing credit risk, i.e. a part or the whole outstanding credit instalment, a decrease by the determined by the Bank turnover scale of company revenues, registering a bank client in the inter-bank database of unreliable clients (Banking System, Registry kept by the Polish Banks Association), attachment of claims on the customer’s account. Should a significant, specified by the bank risk level occur, the system automatically employs processes aiming to limit or totally eliminate the risk.
The implemented solution will significantly allow to automate the monitoring process of bank credit customers, thus contributing to visible cost reduction and improved credit risk control. System flexibility and configurability allow the bank to quickly adapt to changing business requirements. The solution has been implemented, among others, in Fortis Bank Polska SA.
Software Mind Risk Management has been granted the Recommendation of Gazeta Bankowa in the category of IT Solution in the third edition of the Hit of the year 2010 for financial institutions contest.
“The experience shows that due to many elements affecting the credit risk, the existing risk management mechanisms are insufficient. It is necessary to analyze the current status of the credit portfolio through the analysis of dozens of parameters from different data sources. With a large volume of available credit product, the “manual” risk monitoring is ineffective and inefficient. The Software Mind Risk Management system automates these processes by providing up to date information on the status of the entire credit portfolio of the bank with particular emphasis on the defined types of risks and threats” says Radoslaw Stachowiak, Sales Development Director of Software Mind SA.
Complete offer of Software Mind SA for financial sector includes a broad package of solutions supporting organization internal processes from the perspective of the individual business lines and process location, i.e. front, middle or back office. The solutions support both sales and after sales tasks such as credit risk management.