Watch how Experian can empower you with the right data and the right reserve levels at the right time.
CECL, or current expected credit loss, is a new accounting standard that estimates expected credit losses by using historical information, current conditions and reasonable forecasts. CECL compliance is critical as it’s considered one of the most significant accounting changes in decades to affect entities that borrow and lend money.
Our CECL solution, the Ascend CECL Forecaster™, delivers compliance in a click. Built with lenders of all sizes in mind, it includes the data you need for required historic modeling, consulting for modeling expertise and loan loss calculation. And on top of it all, it’s easy to use, easy to read and easy to report — making compliance a breeze.
With required reserves anticipated to increase due to the new CECL standard, every percentage point matters. That’s why Experian serves as your trusted advisor and can perform a gap analysis to update your current strategies.
Plus, we’ve collaborated with Oliver Wyman to create the Ascend CECL Forecaster. This powerful combination of Oliver Wyman’s analytics and Experian Ascend Technology Platform™ will help you comply with CECL and understand the impact to your business. Additionally, you can leverage these findings to improve overall profitability and maximize the dollars available to you to reinvest into growing your organization.
Additionally, Experian can help with your data needs. Data quality is a foundational first step in CECL modeling so your business can trust that accurate, relevant and complete data helps you precisely estimate and measure credit losses for loans and debt securities. We can help you elevate your current data landscape and determine what you need to do to clean it up and build a sustainable data quality and data governance strategy.
Watch the demo video to see how you can be CECL compliant in a click.
We’ve combined Oliver Wyman’s analytics and Experian Ascend Technology Platform to help you comply with CECL.
Built with lenders of all sizes in mind, it includes the data you need for required historic modeling, consulting for modeling expertise and loan loss calculation.
It’s easy to use, easy to read and easy to report. Maximize the dollars available to you to reinvest into your growing organization.
We include both consumer and commercial data for custom analytics to support CECL compliance.
The CECL model is the new Financial Accounting Standards Board (FASB) standard for estimating and measuring credit losses for loans and debt securities. CECL is a change from the current incurred-loss model and brings with it significantly greater data requirements, including historical data for the life of the loan.
Preparing for and implementing CECL will compel financial institutions to think about credit risk in new and more timely ways and to either recalibrate existing models or develop new ones. Critical components to manage during CECL implementation include data preparation, loan segmentation, methodologies selection and process validation.