Mark Watkins
Director, EQ Riskfactor
Make Faster Decisions for New Lends
When you use data extraction with EQ Riskfactor you can view prospective clients as if they are existing customers. This leads to faster credit decisions and risk monitoring controls are established from the outset using EQ Riskfactor’s historical trend analysis. This helps new business teams to analyse the prospect as if they are a client within EQ Riskfactor.
With enriched data the right decision can be made, for both the prospect and the lender, in the most effective, accurate and transparent way. This delivers a positive and valued experience for the prospect and ensures the lender remains competitive.
Save Time With Deeper Data
EQ Riskfactor clients already use extracted data across a number of our products.
This capability removes the need for a number of historical and manual processes. The real-time data and analysis adds value and improves monitoring of both the prospect and the client.
Within EQ Riskfactor 3 key modules deliver an additional level of risk monitoring.
- Client Analysis (Core)
- Fast Pre-population of Review Templates.
- Financial Covenants set from extracted Management Accounts.
- Visibility of Debtors and Creditors – Factoring view for all clients.
- Item level analysis at invoice level.
- Trend comparison of Prospect vs existing client in the same sectors.
- Due Diligence
- Pre-populated audit and survey workbooks.
- Parameter driven testing – High risk transactions identified for focus.
- Less time-consuming due diligence process for Prospects and Clients onsite – historical data already collated.
- Data extraction and EQ Riskfactor analysis combined to provide the surveyor/auditor with significant pre-site visit information.
- Risk-based approach to Due Diligence enabled.
- Invoice Discounting Analysis
- Factoring view for all clients.
- Consistent calculation of reserves.
- Significantly reduced time from receipt of ledgers (via extraction) to reserve calculation and facility updates.
- Borrowing base calculation capability for new business opportunities.
Risk Based Portfolio Monitoring
EQ Riskfactor functionality drives a risk-based approach to portfolio monitoring as resource capacity is focused where it is needed which allows increased time for client centric activities. Unique algorithms identify deteriorating collateral and indicators of facility manipulation, for example a potential fraud.
The use of data extraction across a lender’s risk management processes and procedures, in conjunction with EQ Riskfactor, keeps the lender one step ahead. When data extraction is used, prospective clients are ‘benchmarked’ from the outset with focused operational conditions set from the start.
Use of EQ Riskfactor develops a risk-based approach ethos throughout the organisation, prompting lenders to address clients that step out of their ‘EQ Riskfactor – Swim Lane’. Data extraction enhances this analysis and enables Lenders to make the correct decisions to protect their exposure in real-time.
