Experian launches new Ascend Portfolio Loss Forecaster™ in collaboration with Oliver Wyman to help analyze risk & forecast ...
10 Junio 2020 - 7:00AM
Business Wire
Forecaster tool helps lenders make better
decisions with customized forecasts and macroeconomic data
Experian®, the world’s leading global information services
company, in collaboration with Oliver Wyman, a leading global
management consulting firm, today launched the Ascend Portfolio
Loss Forecaster™, a new tool that uses Experian’s comprehensive
data along with up-to-date macroeconomic forecasts to analyze risk
accurately across consumer loan portfolios. Built on the Experian
Ascend Technology Platform™, the new product delivers immediate
access to a combined set of industry-leading data and models
powered by machine learning to analyze the impact of today’s
rapidly changing macroeconomic conditions.
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the full release here:
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After the longest period of economic growth in post-war U.S.
history, the unprecedented and sudden changes in economic
conditions due to COVID-19 require lenders to gain instant insights
to assess impact and losses to their portfolios. The new Ascend
Portfolio Loss Forecaster combines the power of Experian data with
industry-leading loss forecasting models from Oliver Wyman and
leverages macroeconomic forecasts from Oxford Economics. Lenders
can calculate multiple scenarios, including a set of
COVID-19-specific macro-forecasts, to validate and improve the
accuracy of their portfolio predictions.
“Experian’s agility and innovative technologies allow us to help
lenders make informed decisions in real time to mitigate future
risk,” said Greg Wright, chief product officer of Experian’s
Consumer Information Services. “We’re proud to work with our
partners, Oxford Economics and Oliver Wyman, to bring lenders a
product powered by machine learning, comprehensive data and
macroeconomic forecast scenarios.”
“It is important that the banks take into account the evolving
credit behaviors due to the COVID-19 pandemic, in addition to the
robust modeling technique for their loss forecasting and strategic
decisioning,” said Anshul Verma, senior director of products at
Oliver Wyman. “With the Ascend Portfolio Loss Forecaster, lenders
get robust models that work in the current conditions and take into
account evolving consumer behaviors.”
The Ascend Portfolio Loss Forecaster is a turnkey solution that
includes credit and collateral data including Experian loan-level
data: VantageScore®, bankruptcy scores and customer-level
attributes. It incorporates loan level forecasting models built by
Oliver Wyman using Experian’s historical data, encompassing over
5,000 consumer credit attributes. The product features built-in
custom macro-forecasts from Oxford Economics, including a
COVID-19-specific macro-forecast. Based on a hazard rate
methodology that’s well suited for high levels of uncertainty,
Experian’s tool can help lenders be more responsive to changing
macroeconomic conditions.
For more information on Experian’s Ascend Portfolio Loss
Forecaster, please visit
https://www.experian.com/business-services/portfolio-loss-forecaster.
To watch Experian’s webinar on portfolio loss forecasting, please
visit
https://www.experian.com/business-services/look-ahead-2020/resource-library/portfolio-loss-forecasting-stress-testing-webinar?cmpid=pr.
About Experian
Experian is the world’s leading global information services
company. During life’s big moments – from buying a home or a car,
to sending a child to college, to growing a business by connecting
with new customers – we empower consumers and our clients to manage
their data with confidence. We help individuals to take financial
control and access financial services, businesses to make smarter
decisions and thrive, lenders to lend more responsibly, and
organizations to prevent identity fraud and crime.
We have 17,800 people operating across 45 countries and every
day we’re investing in new technologies, talented people and
innovation to help all our clients maximize every opportunity. We
are listed on the London Stock Exchange (EXPN) and are a
constituent of the FTSE 100 Index.
Learn more at www.experianplc.com or visit our global content
hub at our global news blog for the latest news and insights from
the Group.
About Oliver Wyman
Oliver Wyman is a global leader in management consulting. With
offices in 60 cities across 29 countries, Oliver Wyman combines
deep industry knowledge with specialized expertise in strategy,
operations, risk management, and organization transformation. The
firm has more than 5,000 professionals around the world who work
with clients to optimize their business, improve their operations
and risk profile, and accelerate their organizational performance
to seize the most attractive opportunities. Oliver Wyman is a
wholly owned subsidiary of Marsh & McLennan Companies [NYSE:
MMC]. For more information, visit www.oliverwyman.com. Follow
Oliver Wyman on Twitter @OliverWyman
Experian and the Experian trademarks used herein are trademarks
or registered trademarks of Experian and its affiliates. Other
product and company names mentioned herein are the property of
their respective owners.
VantageScore is a registered trademark of VantageScore
Solutions, LLC.
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version on businesswire.com: https://www.businesswire.com/news/home/20200610005182/en/
Annie Russell
Experian Public Relations
1 714 830 7927
annie.russell@experian.com
Jung Kim Oliver Wyman 1 646 364 8355 jung.kim@oliverwyman.com
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