Integrated solution built on the Experian Ascend Platform accelerates how financial institutions manage regulatory compliance, operational risk and model governance
Experian, a leading global data and technology company, and ValidMind, a leader in model risk management solutions, today announced a strategic partnership designed to transform how financial institutions manage regulatory compliance, operational risk and model governance.
The partnership combines the advanced data, analytics and modelling power of the Experian Ascend Platform with ValidMind's leading solution for model governance and documentation automation. The integrated solution addresses some of the most pressing challenges that financial institutions face, including regulatory compliance, operational inefficiencies, and the need for scalable governance solutions.
A New Era of Compliance and Efficiency
The solution automates and streamlines key aspects of model risk management, including model documentation, validation, and governance, significantly increasing consistency and reducing the risk and time required to meet compliance requirements, such as SR 11-7, E-23, SS1/23, and the EU AI Act. By integrating AI into customizable templates, financial institutions can ensure consistent, high-quality documentation and streamlined regulatory submissions.
"Our collaboration with ValidMind complements our Ascend Platform and offers our customers innovative technology to automate and accelerate their model risk management processes," said Keith Little, President, Experian Software Solutions. "This partnership empowers financial institutions, insurance companies and fintech organizations to meet regulatory challenges with confidence and agility."
Transformative Features for Financial Institutions
The integrated solution provides advanced features for model risk management:
- Automation of Model Development and Validation Documentation: Clients can customize pre-built templates for credit, fraud and other models with the option to leverage GenAI.
- Enhanced Risk Governance: Seamless integration with Ascend Platform ensures robust tracking, monitoring, and audit readiness.
- Regulatory Compliance: Tools for ongoing performance monitoring, independent validation testing, and bias detection that adhere to industry standards.
"This partnership is poised to establish a new industry standard for scalable, automated model risk management," said Jonas Jacobi, CEO of ValidMind. "Together, we can help financial institutions reduce risk, improve efficiency, and accelerate the adoption and implementation of AI, Gen AI and statistical models."
Proven Technology Demonstrating Results
The Experian and ValidMind partnership has delivered value to financial institutions, insurance companies and fintech organizations. Early adopters of the solution reported significant reductions in documentation timelines and improved audit readiness.
About ValidMind
ValidMind is the only centralized, purpose-built platform that streamlines and integrates model risk management activities for model developers, model validators, and auditors working on traditional AI, GenAI, and statistical models. Based in Palo Alto, Calif., ValidMind is changing how regulated businesses approach AI governance and model risk management, helping them achieve unprecedented efficiencies, cost savings, and risk reduction associated with all model types. Learn more at www.validmind.com.
About Experian
Experian is a global data and technology company, powering opportunities for people and businesses around the world. We help to redefine lending practices, uncover and prevent fraud, simplify healthcare, deliver digital marketing solutions, and gain deeper insights into the automotive market, all using our unique combination of data, analytics and software. We also assist millions of people to realize their financial goals and help them to save time and money.
We operate across a range of markets, from financial services to healthcare, automotive, agribusiness, insurance, and many more industry segments.
We invest in talented people and new advanced technologies to unlock the power of data and innovate. As a FTSE 100 Index company listed on the London Stock Exchange (EXPN), we have a team of 22,500 people across 32 countries. Our corporate headquarters are in Dublin, Ireland. Learn more at experianplc.com.
Experian and the Experian marks used herein are trademarks or registered trademarks of Experian and its affiliates. Other product and company names mentioned herein are the property of their respective owners.
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Contacts:
Michael Troncale
Experian Public Relations
+1 714 830 5462
michael.troncale@experian.com
