As it’s the time of year for giving, we thought we’d take a light-hearted peek into what the chief risk officer might want for Christmas from their risk analytics software provider:
For 2017, I’d like it if you could take the hassle and stress out of credit and lending risk decision-making. With that in mind, my Christmas wish list this year is:
- Speed – I’d like our customers to wait no longer than a second for a decision on their loan or credit application. I want us to be so responsive that customers have a ‘Siri’-like experience. This would accelerate our customer onboarding and improve our customers’ experience
- Independence – I’d like to be able to build new offerings or products, test them and go live with them in just a few hours. I don’t want to be dependent on my IT organization and I don’t want to be dependent on my vendors
- Flexibility – everything is about data these days. But we’re not making the most of it if it takes us weeks or months to integrate to service bureaus. I need integration with structured and unstructured data services in hours
- Automation –manual steps in our processes hold us back; so what I’d like is as much streamlining and end-to-end automation as possible
- Compliance – regulation is a fact of life in our industry. But I need a better way of managing the requirements that come out of it. A flexible platform supporting rapid process updates would help me stay on top of changes.
With this wish list granted I can look forward to a high-performing, risk-managed 2017; which beats a book token any holiday season.
Chief Risk Officer
Provenir wants to help you get what you want this yuletide season. We send glad tidings to all our customers, partners and prospects. Happy holidays and a prosperous New Year!