The banking landscape is changing all over the world. Innovative startups and fin-tech companies are challenging traditional banks. Furthermore, a small local bank with fewer than 10 employees can become a serious competitor to a bank with 150 years of history. However, in order for a financial institution to be perceived as a full-fledged bank, it needs to pass a check for compliance with financial industry standards and the Central Bank's requirements. In addition, it needs to computerize reporting and analytical calculations and learn how to manage risks properly.

In the UK, there are about 74 new-generation banks (Challenger Banks) that are applying for a license from the Central Bank under a special procedure for the new breed of banks. Finastra, a recognized leader in the global market of financial market IT solutions, has chosen Neoflex as a partner for the development and support program to help Challenger Banks enter the banking market.

To perform this task, Neoflex and Finastra propose using a powerful and modern Fusion Risk platform, which makes it possible to comply fully with the requirements of national and international regulators. Metrics and forecasts of internal capital adequacy and liquidity assessment process (ICAAP and ILAAP), as well as the comprehensive stress testing powered by Fusion Risk, provide detailed analytics so bank management can make the right decision quickly.

Once a financial institution obtains a banking license, Fusion Risk can manage capital and liquidity. The Treasury and financial divisions calculate performance benchmarks in the system, which helps the bank to fulfill its current obligations and to keep clients' deposits secure. In addition, new ML-based models optimize the bank's balance, ensuring the most efficient use of capital.

Neoflex's specialists have completed over 25 successful Fusion Risk implementation projects for customers from 15 countries around the world. The company's clients include Bank on Dave, Resona, Arab Bank, Alpha Bank, Lombard Bank, BAI, Sekerbank, FINCA Impact Finance, Zenith Bank, and other financial institutions.

“In the modern financial world, it’s not the big banks, but the fast banks that come out on top. The need for identifying risks correctly and responding quickly to a changing environment places special requirements on technologies and software products. We are pleased that our experience in information technology, our consultants' expertise, and our Data Scientist team combined with Fusion Risk by Finastra allow our clients to be successful in the highly competitive UK market,” Tatyana Kosareva, Business Development Director at Neoflex, comments.

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