Fitch Solutions Strengthens Counterparty Risk Solution with ‘AI’ Powered News, Expanded Macroeconomic Data and New Global Bank Rankings
Fitch Solutions announced a number of powerful enhancements to its Counterparty Risk Solutions, each designed to help risk professionals make faster and more insightful decisions. The Counterparty Risk Solution now includes a curated news monitoring service, Country Risk Data from BMI Research, and Bank Rankings – all delivered through the Fitch Connect platform.
Fitch Connect News: This innovative offering uses machine learning and text mining technologies to gauge news sentiment on user-defined portfolio of banks, curated from thousands of global sources. This unique service applies a ‘negativity algorithm’ against entity and portfolio content, learning to deliver increasingly relevant content based on user behavior and delivered within his or her credit risk workflow.
Country Risk Data: This qualitative view of BMI Research’s macroeconomic data, forecasts and risk indices features macroeconomic and political risk analysis for 163 countries globally, and covering 99.9% of global GDP. BMI’s macroeconomic and political risk content is combined with Fitch’s proprietary content and relevant financial data.
Bank Rankings: Leveraging its extensive Fundamental Financial Data, Fitch Solutions has developed a Bank Ranking methodology to offer insight into banks’ positioning on a global and country basis. Bank Rankings provide a clear indication of a bank’s relative standing compared to peers, both current and historic. Bank Rankings are available based on Total Assets, Risk Weighted Assets, Tier 1 Capital and Operating Profit.
Brian Filanowski, Global Head of Product, Fitch Solutions, commented: “By listening to our users, we continue to offer differentiated solutions targeted at helping relieve some of the pain-points in their workflow. The release of the curated news monitoring service is a great example of a differentiated solution. Our innovative offering saves our users time sifting through various news websites and allows them to spend more time on managing their exposures and mitigating risks.”
Fitch Solutions is a leading provider of solutions for counterparty credit risk professionals. Fitch’s Fundamental Financial Data has the largest coverage of bank fundamentals in the market, economic data on sovereigns, including 3-year forecast data, as well as financials on insurers and corporates. The Counterparty Risk Solution also includes access to credit ratings and research from Fitch Ratings, as well as Financial Implied Ratings and other analytics that provide insights into local market dynamics and what is behind the numbers. The suite of products and services that comprise the Counterparty Risk Solution is available through a number of delivery channels, including desktop and enterprise applications.
“Over the last ten years, the financial services sector has been undergoing a transformation that involved the introduction of many new systems and processes to comply with financial regulation,” said Mr. Filanowski. “Our goal is to help counterparty risk managers by integrating relevant content from various sources into one tailored solution that helps drive fast and insightful decisions.”
Fitch Solutions is a world-leading provider of credit intelligence and the primary distributor of Fitch Ratings content. Today, 90% of the world’s leading banks and financial institutions, as well as multinational companies, government agencies, and consulting firms based in more than 118 countries depend on Fitch content to inform their business decisions.
BMI Research is a leading provider of macroeconomic and industry research, and analytics. For over 30 years, BMI has produced quality analysis and forecasts on macroeconomics, political risk, capital markets, and 22 industry sectors.
Together, Fitch Solutions and BMI Research comprise the information services business of Fitch Group, a leading provider of essential financial information and services to the global financial markets. Fitch Group is majority-owned by Hearst.