Fairfax, Virginia, September 2014 – Exprentis Inc., a Virginia-based provider of compliance data analytics and knowledge engineering services, recently completed a significant anti-money laundering (AML) model validation project for a large Midwestern bank.
The firm, which serves a variety of personal as well as corporate clients, selected Exprentis to help validate its AML analytical models operating on a multitude of platforms. Exprentis validated dozens of models utilized by the firm’s various business units and worked to improve customer evaluation, risk scoring, and operational use of these models. The work was performed under a new model risk governance framework just introduced by the firm.
“We have performed many model validation projects, but we’ve never worked under such tight deadlines and with such high intensity. The new requirements introduced by the model risk governance framework created a lot of challenges, but we still delivered great results on time,” said Dr. Roman Vichr, Exprentis’ Vice Present of Technology and Engineering. “The quantitative analysis required really state-of-the-art skills and discipline.”
About Exprentis, Inc.
Exprentis is a software solutions firm providing products and services targeted to the regulatory compliance and risk management needs of financial services firms. Exprentis’ services include compliance data analytics, development of analytical detection models, model optimization and validation, setup and enhancements of model risk management frameworks, and technology research and feasibility studies. Exprentis’ products include regulatory knowledge-based products that help to automate compliance processes, enhance workflows, and ensure consistency of alert and case investigations and reporting. For more information go to www.exprentis.com.