AI leader Altada and credit specialist CreditExpo join forces to enhance decision-making in risk management and compliance reporting within financial services sector
CORK, Ireland, and NY, USA, 17 June 2022 – Altada Technology Solutions Limited, a global provider of artificial intelligence (AI) solutions that supercharge data-driven decision-making in financial services, travel/security and healthcare sectors, has announced a strategic partnership with CreditExpo, a consulting and software company specialising in the management and analysis of retail credit risk.
The partnership between Altada and CreditExpo is expected to create exciting new opportunities within the financial services market. CreditExpo assists financial institutions to measure and forecast credit risk through its Empirical Credit Management (ECM) software. Altada leverages AI to generate structured datasets from previously inaccessible information, dramatically increasing the number of available data sources for financial services teams.
“We’re really happy to have teamed up with CreditExpo and look forward to expanding our capabilities as we explore new possibilities in financial services,” said Allan Beechinor, co-CEO of Altada. “Our strategic partnership will unlock previously untapped data resources, empowering banks to make better decisions around portfolio and risk management.”
Altada’s acclaimed AI solution helps financial institutions to extract value from large, unstructured data sources, such as loan portfolios, by parsing the components of multiple document types. This information can be fed into the user’s own investment model to enhance and accelerate decision-making in relation to risk assessment and loan management.
This technology, in combination with CreditExpo’s ECM software, will deliver a range of benefits including faster and more accurate evaluation of loan applications, loan portfolios, risk factors, compliance reporting and ongoing portfolio management.
“It’s very exciting for us to join forces with Altada and we can’t wait to show our customers how this pioneering technology will enhance their decision-making and add value to their portfolios,” said Dr Patrick Shallow, CEO of CreditExpo. “In addition to benefiting from Altada’s technical ingenuity, we think this partnership also has the potential to increase our presence on the international stage.”
Founded in 2017, Altada is a global provider of artificial intelligence (AI) solutions that supercharge data-driven decision making in the financial services, travel/security and healthcare markets. The company’s Data Intelligence Platform integrates the first AI engine that leverages optical character recognition (OCR) and natural language processing (NLP) to analyze large volumes of structured and unstructured data, enabling users to not only make sense of their information but to also gain meaningful market insights that drive competitive advantage. Altada is headquartered in Cork, Ireland, and operates 13 offices across Europe, the US and Asia, including Dublin, Malta, London, Miami, New York, San Francisco and Delhi. Privately-held, Altada is backed by venture investment from Rocktop Partners, Elkstone Partners and Enterprise Ireland. To learn more, please visit https://www.altada.com/.
Credit Expo is a consulting and software company, specialising in the measurement and management of all aspects of credit risk and compliance reporting. Credit Expo was founded in 2001 by Dr Patrick Shallow, CEO, designer and patentor of the core methodology, ECM Analytics, rewarded with a PhD from UCD’s Smurfit Business School.
ECM is a dynamic, cloud – based expert system designed to measure credit risk across the full range of retail lending instruments in Consumer Finance and Mortgages. ECM and its sister products, SME software and Effective Yield Calculator for mortgages have been extensively back tested and are in popular use among Irish Financial Institutions. The core algorithms draw on the alternative principles of Banking, Maths and Actuarial Science.
To learn more, please visit https://creditexpo.ie
+353 85 2309679
Credit Expo Contact:
Patrick Shallow PhD, FIB(sa)
CEO CreditExpo Ltd
Nova UCD, Belfield, Dublin 4.
+353 87 8167097
Picture (left to right) –
- Graham Baitson, Altada’s Global Head of Emerging Technology
- Niamh Parker, Altada’s Co-CEO & Co-Founder
- Gavin Teehan, Altada’s Head of Relationship Management
- Allan Beechinor, Altada’s Co-CEO & Co-Founder
- Patrick Shallow, CreditExpo’s CEO