Modelling Risk is something that many in financial services treat now as commonplace. The problem is when someone has to check the models and provide the relevant Corporate Governance to ensure that Regulators are satisfied that models within a company are doing the job they are supposed to. This is where EQV and the Digital Twin of an Organization might be very useful.
Olga Venosa, Head of UK Sales and Modelling at EQV, tells #DisruptionBanking: “Our system is unique as it provides a unique core into the systems software of any organization. Which means we are actually able to provide a more consistent approach to system architecture.“
“In risk management or trading we can use AI and we can develop customized solutions. Our system has been quite successful in the banking industry in Italy and we almost cover the entire market. The success is built on the interaction which we have with our clients. Our strength is in the fact that our system can adapt to any organization.
We asked Olga about all the banks plunging literally billions of dollars into Tech so far this year? See our piece on Deutsche Bank from June.
“We recognize the dynamism of the industry, the constant regulatory pressure and regulatory demand, and our system is capable to adapt. I was a risk manager in the past in the City of London,” Olga goes on to say, “What I have seen is that organizations spend an incredible amount of money on the Tech side, but what they forget is to use a more ‘strategic’ solution. With a top down bottom up approach which is what we like to use, this can be achieved.
“Very often when management decisions are taken to invest in Tech in a bank they do not communicate properly internally. Credit and Market risk management are held separately in banks and can sometimes lead to doubling up on risk within the Bank. Having a system like ours would negate this problem and improve the storage and analysis of the information whilst being easier for the regulator to understand internal controls.
“EQV’s Sphera has been classified as a Digital Twin of an Organization type of product. The Digital Twin of an Organization is the capability of a system to be able to replicate all the processes of an organization. The uniqueness of our Sphera DTO product is that we can adapt completely to an organization with this replication.
“Resilience is the key to our system.”
For more insights from Olga please follow the link below to the video on our YouTube channel:
For more details about how EQV’s innovative Sphera system can help your organization, download more details below:
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Author: Andy Samu