Delta Capita has confirmed an alliance with Yields.io to deliver enhanced model risk management solutions to its customers.
Through this collaboration, Delta Capita’s clients will benefit from Yield.io’s model risk management (MRM) technology, enabling a user to manage model risk and to streamline model development and validation in one platform, thus reducing resource demand while extracting maximum business value from its MRM department.
The company notes that model risk management, like other risk categories, must be managed on an enterprise-wide basis, ensuring a comprehensive and standardised approach to identifying, capturing, and assessing model risk across departments, subject to an overall risk appetite set at board level.
Financial services firms face a range of specific challenges in managing model risk, including expanding model inventories, a shortage of effective technology solutions, talent constraints, and the need to ensure model owners adhere to documentation requirements.
Yields.io indicates that its technology was created by practitioners with intricate knowledge of the problems faced by MRM departments. This technology will deliver enterprise management of model risk and standardise the model lifecycle by enabling collaboration across model developers and model validators.
This aims to provide an end-to-end solution for managing model risk, including the ability to link to analytics libraries and data sources, to manage model inventory and to handle documentation management.
Delta Capita’ s chief product offer for pricing and risk, George Petropoulos, says: “The rise of the strategic importance of model risk management in financial services led us to search for an end-to-end platform that standardises the model lifecycle for our clients. Using the Yields technology, our clients will be able to streamline model development and validation, reduce resource demand and industrialise their management of model risk.”
Simon Vanooteghem, director of sales at Yields.io, adds: “We believe this partnership brings the best capabilities together; award-winning technology from Yields.io supported by Delta Capita’s unique combination of deep domain knowledge and experience in bringing technology innovations to the market.”
Delta Capita is the financial services arm of Prytek and provider of managed solutions and consulting services for capital markets.
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