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Genesis International has launched an answer to automate financial institution processes for offsetting credit score danger in lending and financing.
The Genesis Credit score Insurance coverage Utility (CIA) aids lenders in constructing and managing world portfolios of credit score insurance coverage and danger participation agreements.
As well as, it’s relevant to a spread of economic, funding and transaction banking processes.
CIA additionally replaces a sequence of guide processes with an built-in answer that merges world insurance coverage portfolio information and facilitates environment friendly workflow for distributing danger.
Moreover, it permits banks to modernise how they cut back credit score publicity whereas mitigating operational and monetary danger on the identical time.
Options of CIA embody:
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- Finish-to-end workflow overlaying insurance coverage RFQs, pricing, approvals, coverage binding and claims;
- Integrations with business main mortgage reserving platforms;
- Alerts to handle premium schedules, coverage occasions, expoure monitoring and counterparty limits;
- Danger distribution monitoring, and
- Customisable person configurations.
“Distributing credit score danger entails a posh, information intensive course of that calls for a know-how answer to assist the lender function effectively in constructing and monitoring insurance coverage and MRPA portfolios,” mentioned Will Brown, Gross sales Engineer at Genesis International. “Our utility replaces an ecosystem of spreadsheet processes with an built-in answer that helps banks scale business and funding banking companies whereas decreasing operational danger and price.”
“Growing scalable, auditable purposes to exchange spreadsheets in vital enterprise processes is a key means we assist monetary companies rework their know-how and operations,” mentioned Tej Sidhu, Chief Know-how Officer at Genesis International. “CIA reveals how technical and enterprise elements within the Genesis platform ship the integrations, specialised workflow, analytics, visualization and controls that drive efficiency and effectivity.”
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