Experian, a global leader in data and technology, has joined forces with ValidMind, a pioneer in model risk management solutions, to revolutionize how financial institutions handle regulatory compliance, operational risk, and model governance.
This strategic collaboration integrates the powerful analytics and modeling capabilities of the Experian Ascend Platform with ValidMind’s cutting-edge automation for model governance and documentation. The partnership delivers a comprehensive solution that tackles key industry challenges, including regulatory compliance, operational inefficiencies, and the demand for scalable governance frameworks.
Redefining Compliance and Efficiency
The joint solution automates and optimizes critical components of model risk management, such as model documentation, validation, and governance. By leveraging AI-driven templates, financial institutions can ensure standardized, high-quality documentation while accelerating regulatory submissions. This significantly reduces the time and effort required to comply with stringent regulations, including SR 11-7, E-23, SS1/23, and the EU AI Act.
“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.”
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Key Features Driving Transformation
The integrated solution provides financial institutions with advanced capabilities for enhanced model risk management, including:
- Automated Model Development and Validation Documentation – Customizable, AI-powered templates for credit, fraud, and other financial models, with the option to incorporate Generative AI (GenAI).
- Enhanced Risk Governance – Seamless integration with the Experian Ascend Platform ensures comprehensive tracking, monitoring, and audit readiness.
- Regulatory Compliance – Built-in tools for ongoing performance monitoring, independent validation testing, and bias detection, aligning with industry standards and regulatory expectations.
“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, GenAI, and statistical models.”