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The new accounting standard “IFRS9” goes live on 1 January 2018 and will drive a complete transformation of how banks calculate credit losses on their loan portfolios. This major methodological change is forcing banks to completely rethink how they measure and manage credit risk. The answer lies in building a new integrated finance and risk approach on a tightly controlled and performant risk framework. For many institutions, that means SAS®. The analytics leader was named a category leader in Chartis’ 2016 RiskTech Quadrant® for Credit Risk Management Systems for the Banking Book.

“Banks using SAS® credit risk solutions can benefit from robust data management and analytics to deliver high-performance environments,” said Chartis Managing Partner Peyman Mestchian.

The report states that category leaders like SAS have the “depth and breadth of functionality, technology, and content, combined with the organisational characteristics to capture significant market share by volume and value.” Chartis describes them as providing best-in-class solutions, a range and diversity of offerings, global reach, and deep domain knowledge in various risk topics.

“The new IFRS 9 standard is not only computationally demanding but will be policed by both external auditors and financial regulators.  As a result, there is considerable scrutiny of the credit risk systems planned to support the new processes. Banks need rigorous frameworks in place to meet these requirements and provide an overall enterprise credit risk intelligence layer,” said Head of Risk Solutions at SAS UK & Ireland, Simon Goldsmith. “Our IFRS9 credit risk solution not only supports the required modelling complexity but also delivers the control demanded by auditors and regulators.”

In ranking the completeness and market potential of SAS credit risk solutions, Chartis considered:

  • Integration of risk and finance data
  • Flexible credit solution for developing and managing risk models including those for PD, LGD and EAD
  • Enterprise stress testing
  • Flexible and automated regulatory and internal reporting
  • Real-time business intelligence tools

For market potential, Chartis looked at:

  • Existing banking credit risk management client base
  • Growth strategy and brand
  • Geographical reach
  • Financial strength

Chartis bases its rankings on in-depth independent research into market trends, participants, expenditure patterns and best practices. Reports are written by experienced analysts with hands-on experience in selecting, developing and implementing risk management systems for a variety of industries. Using consistent and objective criteria, Chartis evaluates vendors that have a significant presence in a given target market due to market penetration or innovative solutions.

To learn more about SAS’ credit risk management solutions, visit SAS Credit Risk Management.