Utilising Echelon, Jaywing’s new commercial credit slotting software, alongside Jaywing’s commercial lending consultants, Secure Trust Bank will benefit from consistent commercial credit grading which will feed in to the bank’s IFRS 9 processes.

The brief from Secure Trust Bank required a consistent approach to credit grading across its lending portfolio, to comply with regulatory guidance. Critical to dealing with the weight of IFRS 9 requirements was to deploy a flexible option, which combined usability with ease of implementation.

Building on an existing partnership with Secure Trust Bank, Jaywing’s commercial risk specialists were employed to develop the underlying credit grading (or ‘slotting’) models. Using Echelon, Secure Trust Bank credit grades each application at point of risk assessment. The fully supported web-based solution provides the underwriters with consistent commercial credit grading which feeds into the Bank’s IFRS 9 processes, delivering results faster and with far greater consistency.

Head of Risk at Secure Trust Bank, Mark Guise, says: “We needed to implement a solution which would tick a number of boxes. We had to be confident that the software would be user friendly and of value to our existing lending process, without disrupting our existing systems and processes. It was also critical that we were able to control the rulesets very quickly and easily. Echelon provided the cross-site flexibility we required, whilst also providing the stability and security needed.”

Managing Director, Ben O’Brien says: “Echelon is a cost-effective and easy-to-implement solution that enables lenders to manage commercial lending decisions with ease. Using a ‘slotting’ approach to risk assessment, Secure Trust Bank will use Echelon to assign a configurable Probability of Default (PD) band based on underlying scores that can also be configured to reflect the information they want to capture. We’re thrilled that we’ve been able to partner with Secure Trust Bank, utilising Echelon to streamline its IFRS 9 processes and provide a fresh approach to credit grading.”

Secure Trust Bank joins Jaywing’s roster of financial partners, which includes Ghana Bank, Everyday Loans and Paragon.