It is without a shadow of a doubt that ‘big data’ and analytics is changing the face of credit risk as we know it. The amount of focus being paid to analytics is increasing, as is indicated through our survey with 25% of respondents who feel that they are now spending the majority of their time on analytics.
Since the crash in 2008, 87% credit risk professionals say that changes have been made within their organization. That being said, the reasons for these changes do vary with minimized risk related losses, compliance with regulatory expectations and the need to stay competitive in today’s market all being key drivers moving these changes forward.
Focus has changed significantly for credit risk professionals and a whole new toolbox of tricks in the area of data and analytics only makes the transition between new industry objectives and improved capabilities harder to match up.
When we asked how competent credit risk professionals found their new data analytics platforms and the ability for those platforms to more effectively manage credit risk, only 12% believe that they are doing ‘quite well’ in this new domain.
For this reason, FC Business Intelligence is organizing the Credit Risk Analytics Summit (15-16 September, New York) to bring together credit risk professionals to discuss the revolutionary changes being made in the wake of 2008 and with the advent of ‘big data’ and analytics.
Credit risk professionals will unite over two-days to discuss how novel data and analytics strategies can square up to challenges in achieving compliance, tackle risk mitigation and better manage customer relations.
So far, there are over ten C-level speakers participating and attendees coming from a range of financial services companies across North America including Ally Financial, Bank of Montreal, BNY Mellon, Capital Bank, Capital One, Citi, Credit Union Direct, Enova, Ethos Lending, Fifth Third Bank, GM Financial, Hudson Valley Bank, ICICI Bank, JP Morgan, Kabbage, Keybank, M&T Bank, Old Florida National Bank, Orrstown Bank, RBS Citizens, Santander, Suntrust Bank, Swift Capital, TCF Bank, TD Bank, Toyota Financial Services, Union Bank, United Texas Bank, USAA, Wells Fargo.
Access the Credit Risk Analytics survey right here.
Find out more about the Credit Risk Analytics Summit right here.