Luxoft, a global provider of application and product development services and a member of the IBS Group, has delivered Compas System, a risk management tool developed jointly with Deutsche Bank's risk management advisory (RMA) division.
Compas is an advanced web-based lending tool that automates, standardizes and systematically manages the loan origination and credit approval process by providing an automated decision engine while managing the specific credit risks inherent in lending.
In order to better serve its clients, the RMA group at Deutsche Bank wanted to develop a loan origination system, which would include an automated credit decision engine, helping to surpass challenging regulatory requirements and meet international banking best practices.
Jan Gross, global head of risk advisory services at Deutsche Bank, said: “Effective credit risk management is a vital component of a bank’s overall risk management strategy and is essential to the long-term success of any banking organization. We are glad that together with Luxoft we were able to develop an advanced solution that significantly improves client satisfaction by quicker decisions and enhances overall risk management.”
Wolfgang Topp, global head of RMA at Deutsche Bank, said: “Luxoft’s involvement makes Compas more competitive. Luxoft helps us deliver a technological advanced, flexible and leading edge solution to our customers worldwide.”
Yuri Elkin, MD of financial services at Luxoft, said: “We are happy that Luxoft and Deutsche Bank once again had a winning engagement and that we are able to deliver a quality solution that meets critical market needs.”
RMA delivers a range of bespoke solutions to address the risk management and asset servicing requirements of demanding financial institutions and corporate clients in Asia, the Middle East, Europe and Africa.