- A suite of products for assessing and quantifying risks in a regulatory compliant and cost effective manner.
- Informed by our extensive experience of industry methods and regulator expectations.
- Our risk products are in use in leading firms.
Our products help our clients address these challenges:
All our products are designed to help our clients meet their regulatory requirements. We are currently supporting our investment manager clients pivot to assessing risk under ICARA in response to the new IFPR regulation. We are also helping firms prepare for the new consumer duty act as well as providing data to ensure the fair treatment of customers. We continue to support clients with regard to Pillar2 assessment and ICAAP.
Risk experts with deep industry expertise and regulatory insight are in short supply. We developed our suite of risk products so our clients know they can access and benefit from our deep insights and experience at any time. What’s more our scoring products increase effectiveness. Contact customers sooner with elanev Contact and reduce the time wasted on accounts that won’t pay or purchase using elanev Propensity.
Our products reduce OPEX costs and increase profitability. Your cost base is increasing. The cost-of-living crisis limits price increases in response. Instead clients use our products to become more efficient. They continue to maintain a high quality service and meet their customer duties.
OPERATIONAL RISK MODEL
• The Regulator recognised method to assess pillar 2 OR
• Quantify the OR of your business, products & portfolios
Very popular with our challenger banking clients! The elanev OR model affords our clients the ability to assess pillar 2 capital in a simple, repeatable and real-time manner. Benefits from our experience of some 50+ industry approaches, rigorously vetted and cognisant of regulator feedback. Cheaper than either maintaining an internal solution or using other external vendors.
ICARA RISK MODEL
• The Regulator recognised method to assess risk of harm
• Quantify possible material risks to clients, firm & market
In use at UK and global investment firms! Our ICARA aligned risk model enables our clients to assess capital with respect to activities that may have the potential to cause material harm to clients, the firm and even the wider market. Benefits from our extensive experience of industry approaches and regulatory discussions and feedback. This continuously benchmarked solution is simple to apply and more cost effective than either maintaining an internal solution or using other external vendors.
The following products are helping firms reduce their IFRS9 provisions and unexpected credit losses.
• Contact late payers sooner; reduce IFRS9 provisions
• Reduce false contacts; reduce conduct/harassment risk
In live UK deployments daily right party contact rates are 15% greater with elanev Contact than with those provided by a well-known predictive dialler deployed with a dedicated dialler manager. elanev Contact includes the propensity of contacting the account holder and the 3 best times each day for contact. Apply to email, SMS, voice blasts and outbound. When used with our ‘recommended channel’ scores will help you manage inbound volumes as well.
• Screen all accounts for customer financial vulnerability
• Reduce provisions with better alignment of forbearance
elanev Resilience is built from an extensive set of dynamic UK financial indicators overlaid with daily outcomes. Outcomes include validated assessments of vulnerability made by trained agents against regulator approved drills e.g. TEXAS. This means it is more relevant and current than the alternatives. What’s more it applies to all customers in the UK. These include prospective, new and current customers as well as both the credit active and inactive.
elanev has supported clients with the following risk models and analytics.
CYBER RISK MODEL
• The world’s first commercial cyber risk model
• Quantify the impact of cyber resilience failures
Our industry-leading cyber risk model has been in service since Q1 2017, before the IMF proposed a similar theoretical approach in 2018! Apply our regulatory cognisant cyber risk model to quantify potential losses from information, communication and technology risks in your business.
CREDIT CONCENTRATION RISK
• Regulatory approved approach to assessing CCR
• Assess geographic, single name and sector concentration
Our banking and lending clients love this tool. It’s a simple to use, repeatable, real-time approach for gaining a better understanding of the credit concentration risk within a portfolio arising from an unequal weighting of loan amounts to single, or groups of, counterparties.