Response Analytics Licenses Innovative Credit & Collateral Risk Platform to the Federal Home Loan Bank of Seattle

March 18, 2016

 

Adaptive Technology and Innovation Satisfy Emerging Collateral Management Needs

 

SCOTTSDALE, AZ. – Response Analytics Inc., an enterprise software solution provider for financial services organizations, announced today that the Federal Home Loan Bank of Seattle (Seattle Bank) has licensed Response Analytics’ Credit & Collateral Risk Management (CCRM) solution. The Response Analytics’ CCRM solution will be used to automate and manage credit and collateral processes and reporting from a single, centralized and secure data warehouse. This selection by the Seattle Bank was the result of an extensive and competitive due diligence selection process.

 

The Federal Home Loan Bank of Seattle is one of 12 Federal Home Loan Banks. The Federal Home Loan Banks are privately owned and operated financial cooperatives, which collectively provide more than 7,700 members—including community banks, thrifts, commercial banks, credit unions, community development financial institutions, and insurance companies—with short- and long-term funding through their secured lending programs.

 

 “Response Analytics offers innovative software, particularly well-suited to the Seattle Bank's business needs,” said John Stewart, SVP and Chief Risk Officer at the Federal Home Loan Bank of Seattle. “The company's ability to satisfy our requirements for ‘out of the box’ capabilities, flexible system integration and adaptability, was central to our decision to license the system.”

 

Response Analytics’ next generation CCRM solution benefits from an industry-first Client Adaptive Technology (CAT) architecture composed of innovations for data integration, data management, business rules, analytics, reporting and presentation. Unlike first-generation solutions, Response Analytics’ solution permits granular loan-level analysis and user-defined control over data structure, risk calculations, business rules and presentation. At the Seattle Bank, Response Analytics’ solution may be used to:

  • Centralize all member loan collateral in a single data repository, accessed securely through a web-based interface;

  • Systematically process member loan submissions and collateral eligibility using automated data integrations, and perform real-time quality control to ensure error-free data; 

  • Automate the calculation of unique, member-specific loan level collateral values, associated haircuts (discounts) and adjustments to borrowing capacity, based on specific risk drivers for asset classes;

  • Stratify and report on portfolios by asset classes and monitor member bank and collateral performance with user-defined dashboards, interactive reporting and alerts; and

  • Provide automation for on-site and off-site member collateral surveys/audits with integration to the central collateral management system and archiving for analysis and trending.

 

“We are committed to using innovation to reduce credit risk and operating costs while enabling improved business decisions for our Federal Home Loan Bank customers and clients in general,” said Brent Lippman, Chief Executive Officer of Response Analytics. “This second Federal Home Loan Bank selection affirms the relevance of our innovations for emerging business needs across financial services, and we are grateful to the Federal Home Loan Bank of Seattle for its patronage and for embracing innovation.”

 

About the Federal Home Loan Bank of Seattle

The Seattle Bank is a financial cooperative that provides liquidity, funding, and services to enhance the success of its members and support the availability of affordable homes and economic development in the communities they serve. The Seattle Bank's funding and financial services enable approximately 360 community financial institutions to provide their customers with greater access to mortgages, commercial loans, and funding for affordable housing and economic development. The Seattle Bank serves Alaska, Hawaii, Idaho, Montana, Oregon, Utah, Washington, Wyoming, American Samoa, Guam, and the Northern Mariana Islands. The Seattle Bank, like all of the Federal Home Loan Banks, provides 10 percent of its net income to support affordable housing.

 

About Response Analytics

Response Analytics, Inc. is an enterprise software solution provider for financial services organizations. With a pedigree for identifying innovation gaps, Response Analytics is focused on promulgating an unprecedented next generation credit and collateral risk management platform for financial services institutions. Unlike first-generation applications or approaches, Response Analytics provides a client-adaptive platform which provides unlimited system integration and new levels of control and productivity while reducing total cost of ownership.

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