Risk Transformation to enable a fast, digital credit-granting process
Overview.
A UK retail bank struggled with fragmented risk management systems and data silos hindering customer experience and regulatory compliance. COFORGE helped them build a modern data platform and risk management practices, enabling faster credit decisions, improved reporting, and reduced costs.
Challenges.
Fragmented legacy systems with siloed data across credit risk, market risk, and regulatory reporting.
Operational and regulatory risks due to data inconsistency.
Slow credit-granting process hindering customer experience.
Limited data analytics capabilities for risk assessment.
Solutions.
Analyzed and designed a phased implementation for a modern risk management solution.
Reshaped data structures for credit decision engines and implemented a data quality framework.
Built a new Big Data platform with independent data pipelines for scalability.
Developed microservices applications deployed on OpenShift containers for fault tolerance.
Provided risk analysts with advanced analytics tools for real-time risk identification.
Built a cloud-ready solution for future public cloud migration.
Migrated data from legacy systems to the new platform while managing legacy operations.
The Impact.
Metric
Improvement
Credit Approval Rates
Doubled
Credit Losses
Reduced by 20%
Reporting & Compliance
Enhanced self-service reporting and regulatory framework
Maintenance Costs
Reduced by 45%
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WHAT WE DO.
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