Competition in the credit risk management segment continues to heat up among European banks. This has been driven by several factors, including Basel III and tighter regulatory frameworks, the push to capture market share as economies rebound, and evolving consumer expectations.

As financial institutions aim to navigate these market dynamics and improve profitability, they are eyeing ways to be more efficient and effective in credit risk management, which can be an important differentiator in a competitive market. Recent studies suggest there’s room for improvement. One, looking at 509 banks from 2010 to 2022, found weaknesses in traditional methods for managing credit risk. And the European Central Bank has suggested there are challenges in how banks gather and report risk data.

Generative artificial intelligence (AI) is becoming a viable option for banks to fine tune their approach to credit risk management. It can not only drive efficiencies, but free up valuable resources to focus on more complex problems.

The video showcases a new tool developed by Oliver Wyman and GFT that can reduce report creation by 30%-40%, allowing analysts to focus on strategic decision-making. The Credit Risk Assistant is a transformative advancement in AI-driven risk management, combining efficiency and accuracy to empower financial institutions in navigating the complexities of credit risk.

Key features of the tool include data and loading for efficient retrieval, customized document generation that links uploaded data to specific sections, and traceability that enhances transparency by providing reliable sources for each report section. Additionally, analysts can interact with the tool through a chat feature for corrections, ensuring the final output their standards. The tool also supports multilingual PDF export, facilitating global communication while maintaining a professional format. This innovative solution positions banks at the forefront of credit risk assessment.

Presenter:

In the fast-paced world of banking, every second counts. What if we could revolutionize credit report generation, making it faster, more accurate, and more efficient? Welcome to Credit Risk Assistant — GFT and Oliver Wyman's generative AI powered solution that's changing the game in risk assessment.

Voice-over:

Picture a typical day in banking risk assessment. Analysts hunched over their desks, manually combing through endless financial documents, racing against time to compile credit reports. Hours turn into days as they piece together critical financial insights, always conscious that a single oversight could impact major lending decisions.

But what if we could transform this process while preserving the invaluable human expertise at its core? This was the challenge that sparked the creation of Credit Risk Assistant.

Watch as our solution springs into action. In mere seconds, it processes vast amounts of financial data that would take hours to review manually. Through the power of advanced generative AI, Credit Risk Assistant intelligently analyzes this information, generating comprehensive credit reports in minutes instead of hours.

Our system speaks your language — literally. The system works in multiple languages, handling financial documentation from any market. Each analysis includes confidence scores and source links, so analysts can easily verify and refine the findings.

The numbers speak for themselves. Risk analysts cut their report creation time by 30-40%, freeing them to focus on what they do best: making complex risk decisions. As they keep working with the tool, the system learns and adapts, getting smarter while staying within compliance guidelines.

But perhaps most importantly, Credit Risk Assistant doesn't aim to replace human judgment — it enhances it. It serves as a sophisticated copilot, providing analysts with an intuitive interface to refine and customize reports. This partnership between AI and human expertise results in faster, more informed lending decisions while maintaining the highest standards of risk assessment.

Our solution isn't just saving time and reducing costs — it's positioning banks at the forefront of AI-driven risk management, creating a future where efficiency and accuracy go hand in hand.

Presenter:

Credit Risk Assistant by GFT and Oliver Wyman is redefining credit report generation. Ready to see how it can transform your risk assessment process? Visit our Innovation Lab's Experience Catalogue and request a live demo today. The future of credit analysis is here, powered by AI, perfected by you.

The transcript has been edited for clarity.

Competition in the credit risk management segment continues to heat up among European banks. This has been driven by several factors, including Basel III and tighter regulatory frameworks, the push to capture market share as economies rebound, and evolving consumer expectations.

As financial institutions aim to navigate these market dynamics and improve profitability, they are eyeing ways to be more efficient and effective in credit risk management, which can be an important differentiator in a competitive market. Recent studies suggest there’s room for improvement. One, looking at 509 banks from 2010 to 2022, found weaknesses in traditional methods for managing credit risk. And the European Central Bank has suggested there are challenges in how banks gather and report risk data.

Generative artificial intelligence (AI) is becoming a viable option for banks to fine tune their approach to credit risk management. It can not only drive efficiencies, but free up valuable resources to focus on more complex problems.

The video showcases a new tool developed by Oliver Wyman and GFT that can reduce report creation by 30%-40%, allowing analysts to focus on strategic decision-making. The Credit Risk Assistant is a transformative advancement in AI-driven risk management, combining efficiency and accuracy to empower financial institutions in navigating the complexities of credit risk.

Key features of the tool include data and loading for efficient retrieval, customized document generation that links uploaded data to specific sections, and traceability that enhances transparency by providing reliable sources for each report section. Additionally, analysts can interact with the tool through a chat feature for corrections, ensuring the final output their standards. The tool also supports multilingual PDF export, facilitating global communication while maintaining a professional format. This innovative solution positions banks at the forefront of credit risk assessment.

Presenter:

In the fast-paced world of banking, every second counts. What if we could revolutionize credit report generation, making it faster, more accurate, and more efficient? Welcome to Credit Risk Assistant — GFT and Oliver Wyman's generative AI powered solution that's changing the game in risk assessment.

Voice-over:

Picture a typical day in banking risk assessment. Analysts hunched over their desks, manually combing through endless financial documents, racing against time to compile credit reports. Hours turn into days as they piece together critical financial insights, always conscious that a single oversight could impact major lending decisions.

But what if we could transform this process while preserving the invaluable human expertise at its core? This was the challenge that sparked the creation of Credit Risk Assistant.

Watch as our solution springs into action. In mere seconds, it processes vast amounts of financial data that would take hours to review manually. Through the power of advanced generative AI, Credit Risk Assistant intelligently analyzes this information, generating comprehensive credit reports in minutes instead of hours.

Our system speaks your language — literally. The system works in multiple languages, handling financial documentation from any market. Each analysis includes confidence scores and source links, so analysts can easily verify and refine the findings.

The numbers speak for themselves. Risk analysts cut their report creation time by 30-40%, freeing them to focus on what they do best: making complex risk decisions. As they keep working with the tool, the system learns and adapts, getting smarter while staying within compliance guidelines.

But perhaps most importantly, Credit Risk Assistant doesn't aim to replace human judgment — it enhances it. It serves as a sophisticated copilot, providing analysts with an intuitive interface to refine and customize reports. This partnership between AI and human expertise results in faster, more informed lending decisions while maintaining the highest standards of risk assessment.

Our solution isn't just saving time and reducing costs — it's positioning banks at the forefront of AI-driven risk management, creating a future where efficiency and accuracy go hand in hand.

Presenter:

Credit Risk Assistant by GFT and Oliver Wyman is redefining credit report generation. Ready to see how it can transform your risk assessment process? Visit our Innovation Lab's Experience Catalogue and request a live demo today. The future of credit analysis is here, powered by AI, perfected by you.

The transcript has been edited for clarity.