Banks have been reluctant to handle data-heavy tasks such as credit risk analytics in the cloud, for understandable reasons. But firms such as CubeLogic hope this will change, given the rapid pace of new regulations, heightened risk management mandates and the potential of external economic shocks that can potentially change a bank’s exposure to potential credit peril faster than traditionally deployed risk systems can handle.
“Costs and time frame of IT deployment are a large part of risk…you get a long lead time before businesses can get their hands on new risk software,” says Lee Campbell, CTO of CubeLogic.
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