Integrated solution built on the Experian Ascend Platform accelerates how financial institutions manage regulatory compliance, operational risk and model governance
COSTA MESA, Calif.–BUSINESS WIRE–
Experian, a leading global data and technology company, and ValidMind, a leader in model risk management solutions, today announced a strategic partnership designed to transform how financial institutions manage regulatory compliance, operational risk and model governance.
The partnership combines the advanced data, analytics and modelling power of the Experian Ascend Platform with ValidMind’s leading solution for model governance and documentation automation. The integrated solution addresses some of the most pressing challenges that financial institutions face, including regulatory compliance, operational inefficiencies, and the need for scalable governance solutions.
A New Era of Compliance and Efficiency
The solution automates and streamlines key aspects of model risk management, including model documentation, validation, and governance, significantly increasing consistency and reducing the risk and time required to meet compliance requirements, such as SR 11-7, E-23, SS1/23, and the EU AI Act. By integrating AI into customizable templates, financial institutions can ensure consistent, high-quality documentation and streamlined regulatory submissions.
“Our collaboration with ValidMind complements our Ascend Platform and offers our customers innovative technology to automate and accelerate their model risk management processes,” said Keith Little, President, Experian Software Solutions. “This partnership empowers financial institutions, insurance companies and fintech organizations to meet regulatory challenges with confidence and agility.”
Transformative Features for Financial Institutions
The integrated solution provides advanced features for model risk management:
- Automation of Model Development and Validation Documentation: Clients can customize pre-built templates for credit, fraud and other models with the option to leverage GenAI.
- Enhanced Risk Governance: Seamless integration with Ascend Platform ensures robust tracking, monitoring, and audit readiness.
- Regulatory Compliance: Tools for ongoing performance monitoring, independent validation testing, and bias detection that adhere to industry standards.
“This partnership is poised to establish a new industry standard for scalable, automated model risk management,” said Jonas Jacobi, CEO of ValidMind. “Together, we can help financial institutions reduce risk, improve efficiency, and accelerate the adoption and implementation of AI, Gen AI and statistical models.”
Proven Technology Demonstrating Results
The Experian and ValidMind partnership has delivered value to financial institutions, insurance companies and fintech organizations. Early adopters of the solution reported significant reductions in documentation timelines and improved audit readiness.
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