Risk Evaluation Service (RES)

This service would be useful to anyone who has to take decisions pertaining to matters of credit. These would include a wide gamut of organizations such as banks, financial institutions, financial services companies, investment departments of insurance, pension and mutual funds, credit controllers in large manufacturing and trading organizations, treasurers of large corporations, etcetera.

The software can separate the grain from the chaff and can analyze any industrial, service or contracting company that has a track record of at least two years of operations and has audited financial statements. Optimal results are obtained with at least four years of audited statements as the artificial intelligence module then has the required number of data points. The software will then assign to the subject a rating and provide its associated probability of default. If there are any unusual patterns in the financial statements or if the subject has resorted to any "creative accounting" (in other words, "cooking of books"), there is a good chance that the software’s artificial intelligence module will identify such exceptions and flag them for the attention of the analyst. click here for Citations.

Earlier we had licensed the solution to two banks. Testimonials from these two banks are available on request. We have now taken a policy decision not to license CreditWiz+. Instead, we make the product available to end-users on a "pay per use" basis on what is now referred to as "Software as a Service" (SaaS) model. Banks and other users will not need to buy the solution and have it installed in their premises. They provide us the data and we process the output for them. Since connectivity is not a problem anymore, this becomes a very viable option. Banks and financial institutions are, increasingly, finding this an attractive alternative because:
(i) Heavy investments in software will not be required.
(ii) The referral charges are very reasonable and can be recovered from the customer by way of service/processing fees.
(iii) There will be no annual servicing or maintenance costs. Annually, these generally approximate 20% of capital costs. Servicing of the solutions does not become an issue. Upgrades will become available automatically;
(iv) Implementation time is cut down considerably; and
(v) Banks save on staff costs for software operators/technology support.

Visit the page on RES Plans for further details. Kindly send us a request in the format given in the Risk Evaluation Report Request Form section.