Post-COVID WorldCredit Risk Management in a Post-COVID World
Neural Technologies’ Credit Risk Management solution provides a scalable credit risk management solution for enterprises across a wide range of industries, with risk prediction models that allow smooth onboarding of customers in even a fraught financial landscape.
The need for a dynamic credit risk management strategy is evident in an ecosystem still framed by the uncertainty of COVID-19. Global debt has spiraled to eye-watering figures during the pandemic, with research by the Brookings Institute indicating that total global debt saw its largest single-year increase since 1970.
Private domestic debt made up a significant portion of this increase, highlighting the real challenges that many households are facing, and accounting for more than 60% of the total rise in global debt. This figure was even more stark in emerging market economies, where domestic debt accounted for more than 90% of total rise in debt, compared to around one-half in advanced economies.
Enterprises need smart credit risk solutions that are fit-for-purpose in this landscape, balancing the need to maintain nuanced but vital credit risk decisions against the unprecedented challenges facing households.
