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SPIN Analytics case study

RISKROBOT combines explainable AI and automation to build regulatory-compliant credit risk models

Traditional credit risk modelling processes are inefficient and slow

Changing regulatory requirements and macroeconomic conditions mean banks are constantly updating their credit risk models, a largely manual and inefficient process.

RISKROBOT on Azure automates model development and validation

RISKROBOT automates the building and documentation of credit risk models, typically reducing overall effort by 90 percent and total costs by 70 percent.

European Tier 1 bank accelerates model approval with RISKROBOT

A bank turned to SPIN Analytics when regulators rejected a vital model after a year of effort. Using RISKROBOT, the new model’s development took five days and was approved by regulators.

SPIN Analytics empowers banks and FinTechs with explainable AI automation in credit risk modelling

A Microsoft partner since 2018, SPIN Analytics is a FinTech leader headquartered in London, United Kingdom. The company aims to support banks by easing the bottlenecks and resource constraints created by developing and redeveloping regulatory-compliant credit risk models for wholesale and retail portfolios in response to supervisory requirements, expansion into new products and markets, and macroeconomic changes such as the COVID-19 pandemic and government rescue plans.

Although credit risk models have become more sophisticated, the process for building and updating models remains largely manual and bespoke. Considering all the preparation, development, documentation, validation, and approval stages, each new model typically requires 6-12 months of work and $200k to $1.5M per model.

"In my many years of managing teams building and validating credit risk models, my biggest frustration was that even conceptually simple changes would take so much time and effort," said Marc Intrater, US Market Leader, SPIN Analytics. "I had to decide, based on intuition not data, whether the cost was justified. With RISKROBOT, what was slow and difficult is now as fast and easy as its 'ought’ to have been. I can now try out changes and let the data, rather than intuition alone, decide."

RISKROBOT on Azure: The new paradigm for credit risk modelling

Available in the Azure Marketplace, SPIN Analytics' RISKROBOT is an explainable, AI-based platform providing auditable, end-to-end automation to industrialize core credit risk modelling processes and accelerate model building and redevelopment in a transparent and auditable way.

SPIN Analytics combines expert judgment with explainable AI and automation, enabling a credit risk modeller not only to build and update high-quality, regulatory-compliant models quickly at low cost but also to maintain and update models easily. RISKROBOT allows modellers to develop, redevelop, and validate models in hours instead of months, saving thousands of hours of manual effort and millions of dollars.

Taking full advantage of Azure security features as well as many fully managed and scalable Azure services, including Azure Database for PostgreSQL, Azure App Service, and Azure Files, RISKROBOT ensures compliance with banks' strict privacy rules, data security, and high efficiency at a low cost.

RISKROBOT consistently delivers sustainable business benefits, including dramatically decreased deployment times, increased quality of models and documentation, and improved data quality, to help banks turn their risk modelling utility from an artisan workshop into an industrial factory.

“With Microsoft Azure, we can streamline the integration of RISKROBOT into our customers' infrastructure to digitize credit risk modelling. Microsoft Azure provides our customers with a cost-effective and highly scalable environment for our analytics, which meets the highest standards of data security.”

—Panos Skliamis, CEO, SPIN Analytics

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