Reduce Cost of Compliance to Regulation Now
The Bangko Sentral ng Pilipinas aims to ensure that financial institutions have adequate and effective credit risk management systems in accordance with their credit risk-taking activities. Towards this end, the BSP has set guidelines on credit risk management in Circular 855.
Although financial institutions may employ a variety of approaches in credit risk management, the BSP expects the different areas—establishing an appropriate credit risk environment, operating under a sound credit granting process, and maintaining appropriate credit administration, measurement, monitoring, and control processes over credit risk—are effectively addressed.
CreditBPO offers a solution that may assist banks and other financial institutions in reducing the cost of compliance to regulation, such as BSP Circular 855.
The solution has the latest financial technology innovation on risk management that can help banks and other financial institutions enhance their loans processing. With the solution, your organization can:
Spend less time investigating and analyzing non-creditworthy loan applications and more time growing your commercial and SME loan portfolio.
Streamline the financial condition evaluation of your business loan applicants with the use of an algorithm that generates, with consistency and comparability, the financial rating, benchmarking, and write-up of prospective borrowers, lightening the workload of your account officers and credit analysts.
Quickly process business loan applications by using financial ratings as a filter, moving qualified applications to the next step in the process in as short a time as 24 hours to 48 hours after inputting data.
Ready to implement a transformational change in your risk management process? Schedule a call with us and we will walk you through how to leverage and make use of what today’s technology offers through CreditBPO.