Independent research firm cites data, analytics and governance challenges for financial institutions in meeting new accounting standard
LONDON — June 22, 2017
HIGHLIGHTS:
- FICO was named a Category Leader in IFRS 9 solutions by research firm Chartis Research.
- IFRS 9 is a transformational event for financial institutions, changing the way they hold provisions against future credit losses.
- FICO’s solution combines precise analytics with high-speed decision management software and consulting from industry experts in compliance and risk management.
Analytic software firm FICO today announced that it has been named a Category Leader in IFRS 9 solutions by research firm Chartis. The Chartis Research report IFRS 9 Technology Solutions: Market Update 2017 cites the steep challenges financial institutions face in meeting the accounting regulation, which will cause banks to hold more capital in the form of provisions against possible credit losses.
More information: http://www.fico.com/en/solution/fico-ifrs-9-impairment-management
41 percent of APAC banks have a customer growth target of 20 percent or more for 2017
SINGAPORE — 22 JUNE 2017
HIGHLIGHTS:
- Inability to accurately assess the credit risk of unbanked applicants constrains business growth for 77 percent of respondents
- 41 percent of APAC banks have a customer growth target of 20 percent or more for 2017
- 39 percent of respondents say their credit assessment process is still mostly manual
For more information: http://www.fico.com/financialinclusion/
In a recent poll of chief risk officers from banks across Asia Pacific, 77 percent of respondents told Silicon Valley analytics firm FICO that the inability to accurately assess customers’ credit risk constrains business growth.
More than half of US firms in survey by FICO and Ovum say their protection is above average; telecommunications firms most confident of industries surveyed
San Jose — June 20, 2017
Highlights:
- 54 percent of US firms surveyed said they are better prepared for data breaches than their competitors.
- Telecommunications respondents were most confident, with 55 percent claiming they are top performers and an additional 36 percent rating their firms above average.
- Healthcare firms were least confident, with 48 percent responding that their standards are below average or they don’t know how they rate against competitors.
- Ovum conducted telephone surveys for FICO of security executives at 350 companies in the US and other countries.
Senior executives at US firms may be overconfident in their cybersecurity protection, according to a new survey conducted by research and consultancy firm Ovum for Silicon Valley analytics firm FICO. Twenty-seven percent of executives from US firms said they were better prepared than their competitors, and an additional 27 percent of these executives said their firm was a top performer. US respondents were more likely to rate their firms as above average than respondents in Canada.
More information: http://subscribe.fico.com/cybersecurity-views-from-the-c-suite
