May 2020
COVID-19 presents fintechs with an opportunity to accelerate collaborations between banks!?
Agility and resiliency are keys to reflect the new normal after COVID-19. Organizations are required to adjust their data and methodologies speedily, and banking is no exception. The below link is a highly suggestive insight from McKinsey & Company. Model risk management (MRM) is the big issue for all banks as their models have broken down across their business. How can they best address this challenge? Technology and talent are obviously key enablers for MRM. North America is clearly leading the pace in technology adaption and investment, however other regions are facing a large space for a catch-up because they still too much rely on inhouse development according to the […]
COVID-19 presents lenders with an opportunity to accelerate digital transformation!?
The whole picture of consumer credit by COVID-19 is still covered in a vail. But one thing seems to become clear for those people who are involved in consumer credit markets that the pandemic will change credit risk modeling permanently. At CREDI AI, we’ve been discussing COVID-19’s impact on consumer finance with the subject-matter experts and professionals. Some of their insights aligned with what we’ve seen as we’ve been using machine learning to monitor consumer credit behavior amid the pandemic. The economy of Hong Kong shrank 8.9 percent year-on-year in the first quarter of 2020. That was the steepest pace of contraction since the series began in 1974 as the […]