Enterprise business analytics firm Qlik said that Moody’s Analytics, a provider of credit analytics and data, has selected Qlik for its RiskBench solution, an innovative online platform for benchmarking and estimating default and recovery risk.
The RiskBench solution combines Moody’s Analytics global data assets and credit risk models with data visualization technology powered by Qlik Sense, enabling credit market participants to improve monitoring of portfolio risk, to evaluate market expansion opportunities, and to estimate expected credit losses.
By integrating Qlik Sense into its RiskBench platform, Moody’s Analytics solves one of the challenges facing the financial industry – the ability to aggregate large amounts of data on borrowers for peer benchmarking and risk assessment. Qlik Sense enables Moody’s Analytics to share visual dashboards illustrating credit benchmarks and risk measurement indicators for deeper evaluation and understanding of the borrowers’ creditworthiness. In addition, the RiskBench platform allows users to slice and dice the aggregated data by many different variables – such as asset size, region, and industry – to provide unrivalled insights to better assess risk profiles.
“Through its visual and interactive dashboards, our RiskBench solution empowers all users – from risk analysts to executives – to monitor and benchmark the performance of commercial loan portfolios against relevant peers,” said Mehna Raissi, Senior Director, Enterprise Risk Solutions, Moody’s Analytics.
“Qlik Sense simplifies our ability to provide the highest level of customizable insights to our customers, allowing them to view portfolios metrics quickly, compare benchmarks and adapt to our evolving industry.”
The RiskBench platform enables risk professionals to model and calculate impairment provisions required under the IFRS 9 and CECL accounting standards. Qlik Sense visualizations summarize the loss estimates calculated by Moody’s Analytics credit models.
“Financial institutions are turning to Qlik more than ever for assistance in aggregating large amounts of disparate data that can then be turned into actionable insights for key decision makers,” said Paul Van Siclen, Director of Industry Solutions, Financial Services. “Qlik’s platform approach to business analytics is transforming firms’ ability to manage risk, maximize growth in profitability and improve customer relationships.”