SPSS for Banking -- Credit Risk Model Validation Endorsed by SAP.
CHICAGO -- SPSS Inc. (Nasdaq: SPSS), a worldwide provider of predictive analytics software, announced today its SPSS([R]) for Banking -- Credit Risk Model Validation 1.0 has become an SAP-endorsed business solution.
SAP-endorsed business solutions are complementary to SAP([R]) software offerings, are developed in accordance with SAP development guidelines and provide additional choices and flexibility for businesses running SAP software. SAP-endorsed business solutions are powered by the SAP NetWeaver([R]) platform and offered by SAP partners.
SPSS for Banking -- Credit Risk Model Validation includes the market-leading SPSS Clementine([R]) predictive analytics platform, which recently achieved "Powered by SAP NetWeaver" status. SPSS Clementine is complementary to the SAP Bank Analyzer set of applications for finance and risk management. The communication between SAP Bank Analyzer and SPSS Clementine is enabled through the SAP NetWeaver Exchange Infrastructure (SAP NetWeaver XI), a component of the SAP NetWeaver platform that supports the exchange of messages among a number of systems.
The SPSS predictive analytics platform offers a wide variety of advanced modeling capabilities and has the ability to work with large amounts of data and hundreds of different variables. It significantly increases data mining productivity and returns, while enabling quicker and more effective credit risk modeling processes. The results of the analysis in the SPSS software solution are available to SAP customers through integration with the SAP NetWeaver Portal.
"We're pleased our SPSS for Banking -- Credit Risk Model Validation solution is endorsed by SAP," said Patrick McCue, vice president of worldwide alliances at SPSS. "Our collaboration with SAP allows SPSS' predictive analytics to be easily leveraged within existing SAP solution-based environments, helping banks further in their journey toward becoming predictive enterprises."
This SPSS software solution enables banks using SAP Bank Analyzer to validate their analytical models in order to better assess their credit risk, required as part of the internal ratings-based (IRB) approach under the Basel II regulations. The qualification of credit risk allows banks to better manage this risk and define their minimal capital requirements. SPSS for Banking -- Credit Risk Model Validation helps financial institutions compare model prediction with actual credit scoring results, enabling the statistical validation of the performance of their models and, thereby, comply with Basel II regulations.
"SAP's strategy for the banking industry focuses on bringing together our enterprise service-oriented architecture and banking-specific applications with leading solution providers to enhance and complement solutions provided by each company," said Marc Derungs, vice president of banking at SAP. "Being able to deliver end-to-end processing capabilities to a bank's credit-risk assessment procedures is a strategic business benefit that our joint banking customers will experience through this relationship."
Added McCue, "As part of this expanded cooperation with SAP, we will have a stronger market presence in marketing and delivering SPSS for Banking -- Credit Risk Model Validation, making its capabilities available to many more financial organizations across the globe."
About SPSS Inc.
SPSS Inc. (Nasdaq: SPSS) is a leading global provider of predictive analytics software and solutions. The company's predictive analytics technology improves business processes by giving organizations forward visibility for decisions made every day. By incorporating predictive analytics into their daily operations, organizations become Predictive Enterprises--able to direct and automate decisions to meet business goals and achieve a measurable competitive advantage. More than 250,000 public sector, academic, and commercial customers rely on SPSS technology to help increase revenue, reduce costs, and detect and prevent fraud. Founded in 1968, SPSS is headquartered in Chicago, Illinois. For more information, please visit www.spss.com.
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