INSUBCONTINENT EXCLUSIVE:
Meet Spin Analytics, a startup that wants to leverage artificial intelligence to automatically write credit risk modeling regulation reports
The company is participating in Startup Battlefield at TechCrunch Disrupt Berlin.If you work for a big bank, you know how painful it can be
Every time you start selling a new asset, you need to comply with regulations around the world
You need to validate the model, stress test and make sure that everything is sound
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Spin Analytics calls its platform RiskRobot
First, you need to get a clean data set
The startup helps you aggregate, merge and cleanse data before processing it
This process alone usually takes 4 to 6 weeks.Second, RiskRobot makes sure you comply with regulations in Europe, the United States and all
Overall, you can expect to leverage Spin Analytics to write a report in less than two weeks.Spin Analytics has been working on this product
Credit risk management currently costs $500,000 to $1 million per model
It sounds a bit convoluted, but it also sounds like a great business opportunity.
