FINANCIAL TECHNOLOGY

Our marketing software analyzes user behavior and engagement, and provides you with analytic tools so you can measure marketing campaign effectiveness.

Data Pro specialists have wide experience in automating the marketing process. In cooperation with your team, our developers will craft software capable of solving the following digital marketing challenges:

Risk Assessment

We developed software for automating the process of identifying and measuring the potential risk factors in the financial industry. Our system provides accurate information that will be a sound base for risk management decision making.

Current Expected Credit Losses (CECL)

The software for predicting the potential losses of the banking institutions in credit and loan activities. By analyzing a number of factors, the system estimates the possibility and the approximate amount of money loss.

RISK ASSESSMENT

A risk assessment is one of the most comprehensive ways that a company’s decision-makers can get the information they need to evaluate the potential risks and threats to their organization. A risk assessment allows you to make educated and informed decisions about what actions you’ll need to take to reduce your risks or eliminate threats.

Businesses in all types of industries conduct risk assessments for different reasons. Banks might conduct a risk assessment to manage their risk of defaults on loans. Nuclear power plants might do a risk assessment to manage risks to public safety. As more and more companies across industries are relying on computers and security, IT risk assessments are becoming standard for governments and private businesses.

No matter what type of risk is being investigated, all risk assessments include identifying threats that could affect a company or organization’s critical operations and assets. These can include a range of things, including criminals and intruders, terrorists, disgruntled employees, and even natural disasters. Anything that could harm a company’s critical operations is a risk.

While every element in the risk management cycle has its own level of importance, a risk assessment offers the foundation for the rest of the cycle. When implemented correctly, risk assessments can help businesses develop their basis for establishing procedures and policies and finding implementation techniques that are efficient yet cost-effective.

A company’s risks and threats evolve and change over time. That’s why it’s important to do routine risk assessments and make changes as needed to their controls, policies, and procedures.

Because every company is unique, the risk assessment process can vary from company to company. Working in cooperation with the financial institutions, our specialists have obtained a deep understanding of their business processes’ risk governance. We can develop an efficient software system for the following needs:

Bank Internal Audit

To maintain the level of service and security, the banking institutions require periodical internal software system inspections. Modern bank audit software can enhance your bank’s productivity by checking the work of the bank infrastructure and spotting the weak points in it.

BSA/AML Audit

 In order to assess a bank’s efficiency of BSA/AML compliance procedures, its system needs to be reviewed regularly. We can develop a software system that will evaluate the workflow of the bank in order to find out the violations or reviewing the effectiveness of tracking the suspicious activity.

IT Audit

For the banking industry, security is the area of primary importance. Working as part of your team, our developers will introduce a reliable security system that will protect the money of your customers. Our team will take care of the secure storage of your sensitive information and preventing data leaks.

CURRENT EXPECTED CREDIT LOSSES (CECL)

CECL (Current Expected Credit Losses) is the accounting standard that changes the way banks and financial institutions that offer credit will account for expected credit losses. The Financial Accounting Standards Board (FASB) introduced the new accounting method of CECL in 2016.  It replaces FAS-5 and FAS-114. The standards go into effect in 2020, so banks need to be ready to change how they manage their organizational processes for risk management.

CECL applies to GAAP-based countries, including the United States and Israel. It also applies in a limited capacity to Japan and is optional in Switzerland.

The introduction of CECL represents a major shift from the current incurred loss model that accounting practices currently follow. The main change banks will experience is that with CECL, the expected credit loss is calculated over the life of the loan. This major change poses some challenges to institutions who will now be forced to consider credit risk in a new and more efficient way.

In some cases, financial institutions will need to overhaul their existing operations to develop new models to assess and identify credit risk. In addition, CECL is going to impose significantly more requirements on financial institutions.

While Excel is still an acceptable tool that financial institutions can use to fulfill CECL requirements, it’s not necessarily the best or most efficient, particularly for more complex methodologies. CECL software has several advantages over Excel. First, it allows you to disaggregate a portfolio quickly and more narrowly. It also lets you work with multiple methodologies.

Our CECL software can help manage the following:

Data availability

Access and track data easily with software that gives you the information you need at your fingertips instead of relying on spreadsheets.

Production workflow

Any time a new process is introduced, it has the potential to completely disrupt workflow. Our software improves your workflow so you don’t lose efficiency.

Modeling lifetime losses

The biggest challenge for banks will be determining expected credit losses over the lifetime of the loan. Our software models lifetime losses, giving you accurate information, you can use to configure loans.

Our team is ready to boost your business

“Tailored. Flexible. Competitive.”