Moody’s Analytics, a global provider of financial intelligence services, announced that the Johannesburg-based Standard Bank Group has selected CreditLens ™ from Moody’s Analytics to digitize and automate its credit processes.
Built using the latest Cloud technology, the CreditLens platform helps financial institutions to digitally transform their business lending processes to enable them to make better-informed credit decisions faster. Holding assets totaling 148 billion USD, Standard Bank Group is the largest African bank by this measure. It offers banking and financial services in 20 countries in sub-Saharan Africa. This large footprint is one of the reasons why the bank has turned to a cloud platform. “Managing our systems on-site across so many segments and regions were becoming less and less effective, and knowing that the CreditLens platform would be continually maintained by improving products in the cloud has been a huge attraction for us,” he said.
Said Gordon Turnbull, Director of Corporate Client Credit at Standard Bank Group. “It is also critical that the solution we choose allows us to use our own internal risk rating models, which the Moody’s Analytics product does. The bank will use the CreditLens solution to automate the key components of its credit function, including data ingestion and workflow. Using the cloud functionality of the solution, the bank ultimately has the ability to provide near instantaneous credit decisions from its front-line staff anywhere in the field. “We are excited to help Standard Bank Group transform its credit infrastructure through modern architecture and cloud technology,” said Elaine Wong, Director of Loan Assessment and Lending at Moody’s Analytics.
“As the largest African bank and as a standards institution in the field of financial innovation, Standard Bank Group is uniquely positioned to benefit from the flexibility and configurability of the CreditLens platform to facilitate in place of a faster process generating better decisions. Said, “Moody’s Analytics provides financial intelligence and analytical tools for business leaders to make better-informed decisions faster. Our strong risk expertise, extensive information resources, and innovative technology application enable our clients to navigate with confidence in a changing marketplace. We are recognized for our award-winning research, data, software and professional services solutions that together deliver a seamless customer experience. We inspire trust in thousands of organizations around the world through our commitment to excellence, our open-mindedness and our commitment to meeting the needs of our customers. Moody’s Corporation reported revenues of $ 4.4 billion in 2018, has approximately 13,100 employees worldwide and operates in 42 countries.