Yields.io, Model Validation Service of the Year 2019

Yields.io is delighted to share with you that we won the award of “Model validation service of the year” 2019 by the prestigious Risk.net, in New York, United States. This is a recognition of our hard work, experience and vision in the area of Model Risk Management. Model Validation of the Year Yields.io offers a […]

Yields.io, Model validation service of the year 2019

Yields.io is delighted to share with you that we won the award of “Model validation service of the year” 2019 by the prestigious Risk.net, in New York, United States. This is a recognition of our hard work, experience and vision in the area of Model Risk Management.

Model Validation of the Year

Yields.io offers a comprehensive model risk platform for automating and industrialising model validation and monitoring. It offers a cost-efficient approach to model risk and aids compliance with regulatory initiatives and international standards such as the European Central Bank’s Targeted Review of Internal Models, the Bank of England Policy Statement (PS) 7/18, the US Federal Reserve’s Supervision and Regulation Letter (SR) 11-7 and others.”

Financial institutions use Yields.io across the three lines of defence. First-line use cases include pre-validation – automated model testing and report generation – and ongoing monitoring of models such as those for valuation and various types of valuation adjustment. Second-line applications are centred mostly on automating and industrialising the validation process. In the third line of defence, institutions use the platform to create additional challenges to models.

Yields.io was founded in 2017 by Jos Gheerardyn and Sebastien Viguie, two model risk management veterans.

Judges’ comments

“The Yields.io solution integrates the most important steps in model validation into one platform and takes into account the critical regulatory standards. Users can experiment with AI features to see to what extent they are useful for validation.”

“Yields.io offers a generic model validation platform that satisfies a number of requirements. Their client references are positive. This is a marketplace that is not yet fully defined and developed, but the company is well placed to succeed further.”

For all the details, read the announcement article.

Interested in learning more? Watch a demo of Chiron, our flagship product.