It is imperative for companies to have a robust and effective credit risk modelling process in place. Credit risk models (and many other model types) must pass regulatory scrutiny and internal audit requirements, all with the aim of ensuring that the models developed will perform as required and to minimise any potential model risks. The accuracy and reliability of this process are crucial for financial institutions, as their credit risk models directly impact their lending decisions and overall profitability.

Paragon's Modeller has evolved over three decades, continuously improved and refined into a trusted and valued tool for credit risk analysts and modellers. With a focus on simplicity and ease of use, Modeller embodies a commitment to excellence, with best-in-class processes and methodologies to deliver best-in-class predictive models.

Process standardisation is the key to efficiency whilst reducing the risk of errors or re-work. It involves establishing clear procedures and best practices for specific tasks and processes. In the context of model building, it means defining a consistent methodology for data preparation, model design, feature selection, model training, model validation, and deployment.

Selecting the right credit risk modelling software is a critical decision for financial institutions seeking to develop and deploy credit risk models efficiently and effectively, whilst complying with guidelines and regulations. To assist you in this crucial process, we've distilled the most important considerations into the top 10 questions you should ask when evaluating credit risk modelling software.

We had great pleasure in sponsoring the Gala dinner at the recent 18th Credit Scoring and Control Conference held in Edinburgh and awarding the Paragon Best Paper Award. The biannual conference is organized by the Credit Research Centre at the University of Edinburgh and is the world's premier conference for credit scoring and credit risk related topics.