Banks routinely use models for a broad range of activities, including: underwriting credit, valuing exposures, instruments, and positions, measuring risk, managing and safeguarding client assets, and determining capital and reserve adequacy. In recent years, banks have applied models to more complex products and with more ambitious scope, such as enterprise-wide risk measurement. Model risk should be managed like other types of risk.
The process to re-code, re-test and audit models is cumbersome and prone to numerous errors. In addition, financial institutions continue to struggle with how to pull vast amounts of their data along with data from other sources and putting them to use in decisioning systems.
Our suite of advanced tools help customers deploy, audit, integrate and execute predictive models with greater ease at a lower cost for more consistent decisions, outcomes and business performance, regardless of the credit source used.
Equifax helps your organization comply with regulations from the OCC, CFPB, CARD Act and Dodd-Frank Act. Our solutions help you make better, more relevant offers with an extended view of consumer credit behavior. We provide actionable consumer credit, economic and demographic data, as well as integrated solutions for model design and deployment.