S&P Capital IQ Partners with Bluering for New Credit Risk Management Offering
Partnership offers S&P Capital IQ's credit assessment scorecards on Bluering's Commercial Credit Processing platform, offering a seamless end-to-end credit risk management solution to banks in the Middle East & North Africa
London, UK - February 17, 2014 - S&P Capital IQ, a leading provider of multi-asset class data, research and analytics, and Bluering, a software company that delivers credit management solutions to banks and financial institutions in the Middle East and North Africa (MENA), has today announced a partnership to expand Bluering's Commercial Credit Processing platform by integrating S&P Capital IQ's credit assessment scorecards.
The platform - which combines loan origination and internal credit risk ratings in one system - now hosts S&P Capital IQ's probability of default (PD) and Loss Give Default (LGD) credit risk assessment scorecards which are used to analyse various types of corporate, specialised lending, financial institution and public finance exposures. The scorecards - models for credit risk ratings - consider both quantitative and qualitative risk factors, and are used by clients in their Internal Rating Systems to comply with the Internal Ratings Based (IRB) approach as described in the Basel accords and national regulations.
Addressing a challenge faced by banks, S&P Capital IQ's partnership with Bluering offers bank credit professionals in MENA a seamless end-to-end credit solution on a single platform. Through this offering, clients now have the ability to analyse all types of companies of any size and ownership structure, in any geography or sector, all in one place.
"The integration of S&P Capital IQ's scorecards with Bluering's Credit Processing Platform combines best-of-breed solutions for commercial lenders seeking to better manage and understand risk," commented Michael Baker, Head of Solutions and Services for S&P Capital IQ. "In order to comply with the Basel accords, MENA-based commercial banks need to demonstrate greater transparency of their internal rating models and improved management of counterparty risk data. S&P Capital IQ and Bluering address these issues within an integrated risk management platform, providing an end-to-end credit workflow solution managing financial data, PD and LGD methodologies, and risk management reporting."
"Our aim is to provide the most comprehensive and state-of-the-art credit management solution to the banking sector in the Middle East," commented Fares Kobeissi, Chairman of Bluering, highlighting the uniqueness and added value that the alliance between S&P Capital IQ and Bluering brings to the market. "The combination of the most advanced risk rating models with a specialized credit process automation platform addresses the credit requirements of commercial banks and credit institutions." He added that the solution covers both 'credit risk' and 'operational risk of credit', thus helping banks improve their credit portfolio and minimise defaults.
Indeed, S&P Capital IQ has signed its first agreements for implementation of the scorecards as a result of the partnership with Bluering. Al-Mawarid Bank and Jammal Trust Bank, both based in Lebanon, have adopted S&P Capital IQ's generic corporate credit assessment scorecard in order to meet requirements set by the Central Bank of Lebanon. The flexibility of both the scorecard model, which replicates the ratings criteria of Standard & Poor's Ratings Services, and the platform allows it to be implemented within the banks' existing IT infrastructure.
About S&P Capital IQ
S&P Capital IQ, a part of McGraw Hill Financial (NYSE:MHFI), is a leading provider of multi-asset class and real time data, research and analytics to institutional investors, investment and commercial banks, investment advisors and wealth managers, corporations and universities around the world. S&P Capital IQ provides a broad suite of capabilities designed to help track performance, generate alpha, and identify new trading and investment ideas, and perform risk analysis and mitigation strategies. Through leading desktop solutions such as the S&P Capital IQ, Global Credit Portal and MarketScope Advisor desktops; enterprise solutions such as S&P Capital IQ Valuations; and research offerings, including Leveraged Commentary & Data, Global Markets Intelligence, and company and funds research, S&P Capital IQ sharpens financial intelligence into the wisdom today's investors need. For more information visit: www.spcapitaliq.com.
Bluering offers extensive end-to-end solutions for pre-lending decision making in banks and financial institutions helping them maintain full control over their credit management process and comply with internal and external regulations & policies. With credit management being our area of expertise, our job is to ensure a perfect balance between risk and return by providing to banks credit automation solutions that help evaluate their customer's risk prior to lending. Bluering has a wide range of fully integrated products and services that entails everything from consultancy to implementation and training. Built using the latest technologies, Bluering credit management solutions can be configured to meet each financial institution's requirements, ensuring a unique, comprehensive solution of superior quality. Our determined and highly trained team of consultants, each a specialist with many years of experience in the credit management field, work meticulously to ensure that every project is successfully completed and the client's total satisfaction is secured. Because of its commitment to providing a successful product implementation and with its culture being centered on the continuous development of company resources, Bluering has managed to add some of the most prominent regional Banks to its clientele list and is now expanding into the global market. Bluering is rapidly becoming the answer to all retail and commercial banks' credit management needs, filling a niche in the market for complete credit management solutions. For more information please visit www.bluering.com.
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