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Progress’ Corticon fosters agile banking

Zafirah Salim | Sept. 19, 2014
It improves decision-making and cuts development costs by managing the business rules that drive business processes.

In the credit reporting system, the rules themselves come from a combination of regulatory sources such as the Monetary Authority of Singapore (MAS) and statistical analysis from the DBS Credit Portfolio Analytics Department.

Now that Corticon is powering the credit rules process, DBS routinely passes both internal and external audits by the MAS. This not only reduces their own credit risk, it also reduces the amount of funds which once had to be held in reserve to cover potential bad loans. 

With the help of Corticon, DBS has built a better credit model; reducing risk and the amount of financial reserves that must be held aside to cover unanticipated losses. In the long run, Corticon is also helping to improve operational speed, delivering and updating new credit-scoring models, reducing errors in model, and enhancing agility and adaptability.


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