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Effective Quality Assurance for Banks

Over the years, financial systems and networks enabling banks’ business operations have grown in scope, scale and complexity. To manage internal processes such as customer acquisition, existing customer management and collections processes ; and risk strategies such as ‘Authorization, CLI / CLD, Payment Hold’ etc., the banks have adopted newer enterprise grade platforms such as Visionplus (First Data), TS2 (TSYS), TRIAD (FICO), Blaze Advisor (FICO) and Strategy Design Studio (Experian).

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How to select a stress testing methodology?

As the world is crawling out of the global economic crisis, several efforts are underway by regulators as well as international organizations, such as the International Monetary Fund (IMF) and Bank of International Settlements, to institutionalize stress testing as an integral part of bank’s functioning. The intent is to better understand system-wide risks that can trigger widespread economic and financial instability. US Fed, therefore, has mandated an annual Comprehensive Capital Adequacy Review (CCAR) exercise for all banks to submit their capital plans for multiple scenarios (Baseline and Stressed scenarios).

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