Secure Trust Bank in regtech project with Jaywing
UK-based Secure Trust Bank has selected credit risk analytics firm Jaywing and its new Echelon solution to automate commercial IFRS 9 processes.
Jaywing is an existing tech supplier to the bank. The new project will see the development of the underlying credit grading – “slotting” – models. Using Echelon, Secure Trust Bank credit grades each application at point of risk assessment. The solution, which is web-based and fully supported by Jaywing, provides the underwriters with consistent commercial credit grading which feeds into the bank’s IFRS 9 processes. The results are delivered “faster and with far greater consistency”, the vendor states.
“We needed to implement a solution which would tick a number of boxes,” says Mark Guise, head of risk at Secure Trust Bank.
“We had to be confident that the software would be user friendly and of value to our existing lending process, without disrupting our existing systems and processes. It was also critical that we were able to control the rule-sets very quickly and easily.
“Echelon provided the cross-site flexibility we required, whilst also providing the stability and security needed.”
Jaywing’s other customers include Ghana Bank, Shawbrook Bank, Everyday Loans, Coventry Building Society and Paragon.
Secure Trust Bank has been trading for 66 years, based in Solihull, West Midlands. It specialises in real estate business finance, asset and commercial finance, consumer finance (mortgages, motor and retail finance). It has 767 employees, a customer base of nearly one million, a loan portfolio of £1.6 billion and customer deposits totalling £1.5 billion.