Platform Assisted Model Validation & Audit with Chiron App

What are the problems
the bank faced?

The audit team of a top-tier bank in France was looking for an efficient and sustainable long-term solution that will enable them to enrich their existing review of validation process.

Our Solution

An on-premise installation of Chiron App was chosen since it was easier to overcome data-privacy issues. The audit team then leveraged various Machine Learning (ML) techniques available out of the box to perform additional challenges, such as:

  • Automated anomaly detection (30% efficiency gain)
  • Automated benchmarking (25% efficiency gain)
  • Standardized back testing (20% efficiency gain)

The Chiron App integration enabled the bank to efficiently audit their models. More importantly, this helped their team discover new issues that would have otherwise severely impacted the bank’s business.

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